Confession time.Â I’ve been thinking about buying a new-to-us car.Â And by thinking, I mean obsessing.
A little back story –
My wife and I own three paid for automobiles – a minivan we paid cash for in 2007, an 2001 Accord we paid off in 2005, and an old pickup truck that I use for hauling off trash.Â When we purchased the minivan back in 2007, we did so because our previous minivan was dying, and I didn’t want my wife to drive around in an unsafe automobile.Â I felt, and feel, that buying the newer minivan was a good idea.
Back in November, I hit a deer with my car.Â The insurance adjuster visited, and I now have an estimate for the repairs.Â The collision with the deer really bummed me out – but it also got me to thinking – Do I really want to spend $1000 – my deductible – to fix an automobile that is 9 years old?Â Perhaps I should just sell the thing, and buy something newer?!?
Fast forward –
And so, for the past several weeks, I’ve been debating about what to do with the car.Â Should I sell it, should I keep it?Â Should I fix it, should I drive it as it is?Â Should I buy something newer, or should I get the Accord repaired?Â At the end of the day, all of this self-talk managed to do was one thing –
It kept me from admitting the truth to myself!
See, I kinda, sorta want a newer car, and the collision with the deer was just the excuse that I needed to justify the purchase.Â Plus, I’ve done really well over the past few years, and I deserve a newer car.Â Right?!?
There, I typed it.Â I’ve been trying to convince myself that – as a reward for making prudent financial decisions – I should reward myself with a new car.
Instead of just spending the $1000, which I have, and repairing the Accord, I’ve seriously considered dipping into my savings and buying something nicer.Â Heck, for a fleeting moment, I even considered buying a brand new car.Â In that fleeting moment, I could actually smell that new car smell, wafting up as I tooled about town in my sweet new ride.
Thankfully, I have snapped out of my own funk, re-read several of my old posts, and come to my senses.
I do not need a new car.Â My Accord is in great shape – aside from the deer damage – and once it’s fixed, it will look (almost) as good as new.Â And, if I continue to change its oil on a regular basis, get it serviced regularly, and keep good tires on it, I should be able to drive it for several more years.
So, I’ll spend the $1000, get the car fixed, and continue to drive it.Â Sure, it wold be fun to have something newer, but the reality is, it’s just a car.Â All I need it to do is get me from point A to point B, safely.Â If I have to spend a little money, each year, to keep in on the road, so be it.Â I’d much rather pay for (reasonable) repairs than to pay for an entirely new automobile.
For a few weeks, I almost got caught up in the power of car fever.Â Thankfully, I did not listen to my temporary emotions and I chose to stick with my long-term game plan.
What about you?Â Have you ever talked yourself into a bad financial decision?Â Or, conversely, have you ever talked yourself out of one?