My last post was about hoarding cash. I guess now we have a little less cash in that stash!
My husband’s car was getting pretty bad. He’d bought it used over a decade ago and had put at least 150k miles on it. The last time he brought it in for repairs and maintenance, the quote to fix everything was pretty much about what the car was worth. So we decided it was time to get something new.
My husband took the lead on shopping around for the best deal (mostly because I don’t like trying to negotiate with people). We knew what kind of car we wanted, so he sent emails to all the local car dealers who were selling that car. He collected the offers in a spreadsheet and continued to negotiate with the different dealers, sharing what the best offers were to see if they could beat it.
We finally made our way to the dealership that had the best offer. We took a test drive just to make sure we liked it. And while we were on the test drive my husband got an email from another dealer with a competitive offer. When we got back to the dealership from our test drive, my husband told them about the competing offer. He showed them the email, and they were able to match it!
We had to transfer money from our savings accounts to our checking account so we could pay for the car, but after that went through a few days later, we picked up the new car!
I know a lot of folks focused on personal finance suggest that you should only ever buy a used car, and even then, don’t spend a ton of money on it. Yes, we know a new car loses value immediately after buying. But we plan on having this car for a long time, and it fits our current and future needs, and we plan on getting our money’s worth from it. Like Tanja of Our Next Life wrote, “decide for yourself what spending you value, then spend without guilt“. We are frugal in a lot of ways, and have been saving for a long time. We wanted a car that was safe and reliable, and could accommodate our family’s needs now and for years to come. And we believe that’s what we got.
When’s the last time you bought a car? (It was over 11 years ago for me!) What purchase have you made recently that goes against standard personal finance advice?