Our cars are fully paid for. I don’t drive the nicest cars on the road, but we don’t drive the worst either. They’re above average and best of all, fully paid for. Would I trade a car in for a newer, nicer one that comes with a monthly car payment? Not a chance.
When it comes down to it, your car is simply something that gets you from one place to another. Sure you might be in sales or some kind of position where you have clients in your car. This doesn’t mean you have to drive a BMW, it just means you have to drive something decent that you keep clean. The brand on the outside isn’t the important factor.
I couldn’t imagine adding a $300 or so car payment to my monthly budget. It would not only make things incredibly tighter for me and my family, but it would mean drastically cutting into my savings and overall investment strategy. If you agree with me, but do have a $300 payment or so, what the heck are you waiting for? Sell your car and buy a car with cash.
If you listen to Dave Ramsey at all, you would know that he recommends people buy a “clunker” to drive around in. Sure, they might require some maintenance but the outlay of cash required will still be significantly less than the money you are spending on your shiny 2008 BMW. Sell your car, buy a car with cash, and be done with it. You’ll be amazed at how not having a car payment eat into your discretionary money each month will change your life. Do it!
No related posts.
Related posts brought to you by Yet Another Related Posts Plugin.
Personal Finance