Posted byon November 9, 2007
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Right now I’m driving a 2005 Mercedes Benz C230. I got it as a birthday present from my husband 2.5 years ago. I love it! And I want to keep it forever…. but there’s two things that bug me about it.
Everybody Loves Your Money wrote an article about Money In The Bank – Cheap Cars In The Garage. He sold his 2006 car and bought a 2000 to generate some extra money.
I actually planned to do the same a few weeks ago. I don’t like the drain that cars put on our net worth as depreciating assets. I would much rather have cheaper cars and put the money into investments, however, neither one of us is good at fixing cars. Reliability is an important feature for us.
So I passed my wants on to my husband (he is the car department at our house). I want a new-to-me car with the following features: cheaper than my current car, super safe, low mileage, big enough for an expanding family, gets good gas mileage, looks “cute,” and is not a minivan.
Trying again to meet as many categories as possible landed us in a Chrysler Pacifica. The areas that slid were the gas mileage and the price tag. So much for saving a bundle.
I determined that my car is worth $22,000 (with snow tires thrown in). I figure if I can sell it and buy a Pacifica for $20,000 I’ll be happy, I wanted to go a bit cheaper, but I’m just not willing to give on some of the other things.
The only problem…. it’s going to snow soon here. No one wants a sporty car going into winter. So I guess I’ll wait it out until spring when I can sell it. I’m not sure how the math will work out in six months, though.
So I guess my car isn’t for sale…..