My New, Used Vehicle (almost)

HISTORY

Back in February 2004, when Jenn and I became debt-free, we made a decision to use the money that had been going toward debt to save up enough money to cover at least 6 months of expenses.

After we saved that money up, we decided to save up enough money to replace one of our vehicles.  Not enough to purchase a NEW car (which we wouldn't – they depreciate miserably fast!), but enough to buy a good three or four year old used vehicle.

Well, we have had that money sitting around for over two years, and it is getting near time to replace the car.

Thursday May 3, 2007

Jenn and I went to lunch on Thursday, May 3rd, and I said to Jenn, "What do you think about getting rid of our car and just have one car?"  She liked that idea a lot!  That was lunch.  A few hours later, my friend calls me and tells me that he has a great deal on a vehicle for me.

Now, when this friend calls me and tells me that he has a great deal, I listen!  He knows how to get a great deal!  He purchases cars that have been in wrecks and restores them to 100%, generally for a cost of less than 1/2 of Kelley Blue Book.  This was one of those deals!

Friday May 4, 2007

Jenn and I talked about it in detail, test-drove the same type of vehicle, and then I called my friend to tell him that I wanted to buy the car.

Friday May 11, 2007

Jenn and I went and looked at the wrecked vehicle and delivered the funds to purchase it.   It was sad to depart with my beloved portraits of Benjamin Franklin, but it was a great deal!

Friday, May 25, 2007

My friend called me and said that there was a problem with the wrecked vehicle.  Apparently, when he went to purchase the wreck, he looked it over in great detail and discovered a "kink" in the frame.  I don't know what that is, but it is a major issue!  So, he didn't buy it.

My beloved portraits of Benjamin Franklin are being mailed back to me.  I am sad that I will not get the vehicle, but MAN I missed Ben.

I think I will put Ben back into his house (the bank – high interest savings account), and let him chill for awhile!

Besides, my car only has 220,000 miles on it. 

4 Responses to “My New, Used Vehicle (almost)”

  1. Rich Brott May 29, 2007 at 6:21 pm #

    220,000 miles! I love it! Just the inspiration I need to keep my current vehicles for a very long time!

  2. Paul Moyer May 29, 2007 at 6:33 pm #

    Having a car buffer fund also brings peace of mind when you have high mileage cars. We just had a compressor go out of our nicer car (the one the wife drives of course). So we are able to pay cash for that out of our car fund instead of struggling with no AC for the whole summer.

  3. Mark Asbell May 30, 2007 at 11:31 am #

    I’m just glad to hear your friend was sharp enough and ethical enough to alert you of a problem and make it right. I have a horror story about buying a restored vehicle and it was a frame-related problem. It is very risky if you don’t know what you’re looking for and/or if you can’t completely trust the person you’re dealing with. If I ever do that again it will be with extreme caution and with more than one opinion on the “restoration” of the vehicle. Until then I’m doing what Paul Moyer commented on – car repair fund. Our mini-van has 190,000 miles and our car has 116,000 miles. So far so good.

Trackbacks/Pingbacks:

  1. JosephSangl.com » What should I do with my car? Part THREE - June 30, 2007

    [...] I do want to remind everyone that I did try to replace my car, but the deal fell through! [...]

Leave a Reply:

Gravatar Image