Wednesday, May 6, 2015

Cars, cars, cars

Back in 2008, the first year of this blog, we saved up $17,000 and I bought a 2006 nused car.  While that feels like a short time ago, its been almost 7 years.  That car has served me well, but last year (and the prior year) it cost me a pretty penny in repair costs.

Now that we have Baby Sam, and I have to wiggle and wrangle that baby stroller in and out of my trunk (even though its very large) and as the car approaches the 10 year mark, I've started thinking that I need a new/nused car.  I'm thinking about a small SUV or cross over type of car.  Something with a larger back storage area (not a trunk) so I can more easily fit the baby stroller and all the stuff that goes along with a baby.

The length of time Americans keep their cars has grown.  On average, a new car is kept for 71.4 months (or just under 6 years).  On average, a nused car is kept for 49.9 months (a bit over 4 years).  In my situation, I've exceeded the average for both data points. since I've been driving my nused car for more than 6 years.

I generally do well with resisting the influence of friends and colleagues, but most everyone I know is driving a newish car.  In fact, I recently got together with a good friend and she has a newly leased SUV.  In the last 15 years she has had 5 cars and I have had 2.  In our family, I was the one with the nice car since Mr. Sam was driving an old 1998 truck.  But, that's not true anymore.

While I'm starting to pine for a new car, our financial situation is stretched.  We have the expenses of the baby, indeed we still have a little baby debt.  We have Mr. Sam's truck debt.  And, we've barely made any progress on our 2015 savings goals (indeed we've hardly started).  We also have child care costs and a college fund to feed.  So, if I can hold off on a new or nused car for a couple of years, we'd be much better off.

As a result, my tentative plan is to start a nused car fund now so I feel like I am working towards a goal.  I need to also spend some money to get my car cleaned and tuned up, oil change, tire rotation, etc.  If I do that, I'll feel like my car is in better condition and won't be so antsy for a change.

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