And the final answer is…

Monday I asked your opinion about altering our timeline on buying a second vehicle for my husband. I got quite a few responses, between the comments here on the blog and on my Facebook page. I enjoyed hearing different perspectives from you all – it was a very valuable discussion. So I thought I’d let you know what our final decision was.

We decided not to purchase the vehicle right now. We are really gaining some momentum in paying off these credit card bills, and I am afraid that putting a large chunk of money towards such a large expense (especially one that will cost additional money to maintain) will make it harder to maintain that momentum.

I also think, psychologically speaking, that being uncomfortable will make us want to get out of debt more quickly. If our lifestyle is easy and comfortable, there’s not an emotional reason to change anything. The intellectual reason is still there, but that’s harder to remember when you’re tempted to go out to eat, or buy music, or spend money on any other “extras” during the month.

We’re going to wait. Like we teach our kids, sacrificing something “good” right now can lead to having something “great” later.

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5 Responses to “And the final answer is…”

  1. buying frugally! says:

    $1,500 or less for a good condition back up emergency car!? You should do it, because the price of used cars is only going up! How do I know? I've been trying to find a good deal for a long time on a used car and can't. You need a back up for emergencies! Stuck without a ride could cost you precious time or opportunity!

    • downswithdebt says:

      I definitely understand the idea, but I still think we're going to stick with our original plan for now. We do intend to find a used car for that price, but right now we want every dollar to go towards paying off our debt. Those dollars are building momentum when they get together!

      • buying frugally! says:

        I went on the EPA web site for real world gas mileage and the 1992 V-6 four door explorer and the 1992 V-4 automatic Honda accord had a difference of just $300 over a year when driven 7500 miles. If you buy a same year Accord as the Explorer it will cost you more in maintenance and up front cost! If it is just a an emergency back up and you might even drive fewer miles it will be an even better deal. I'm just saying if this is truly an emergency vehicle the Explorer is a great bargein an possibly an even better deal than a comparable year Accord, taking into accout maintenance an up front cost. Just the facts, be informed, it isn't always better to go for MPG. Ex. automatic four door Toyota Yaris, Corollas, or Honda Civics will cost less to own over five years than a Hybrid Prius! If you can live live without an emergency vehicle–go ahead and do it! But, please give real facts to the readers or don't go around asking for advice when you had already made up your mind!

        • downswithdebt says:

          At the time that I posed the question, our family hadn\’t made a decision over whether or not to buy the car. I am definitely interested in the many, varying opinions I\’ve heard from all of my readers.

          While it would not be our primary vehicle, we wouldn\’t use the vehicle as ONLY an emergency vehicle. The gas mileage calculations I mentioned were based on information we had from owners of Explorers, not based on internet research. Still, I\’m willing to accept that the mileage costs could be less than what I said. So, based entirely on gas mileage and upfront cost, I can see that it might be be a good investment, or at least a comparable one to the Honda I referred to.

          There are pros and cons to either side of this decision. Our family has decided not to do it at this time, but I think that the discussion has been profitable from both sides. Thanks for your input.

  2. buying frugally! says:

    I my experience, i have been struggling to find a value worth it car for under $3,000. I was just saying if you needed an emergency back up and you found one for around $1000-1500? But if you have another way to get around during emergencies then go ahead and wait! You might find a more economical (mpg) for around $4,000 when you are ready!

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