We have never owned a new car. Right now, we’re driving a 1996 Saab and a 1988 Volvo. We have a 2003 Saturn as a back-up. That’s a lot of cars. And they’re old. Here’s why they are saving us money:
–Repairs don’t cost as much as car payments. Sorry, but it’s the truth. If you pay $300 a month in car payments, you pay $3600 a year. We have NEVER spend that much in repairs every year! And that includes the year that we replaced the transmission in the Saab. And if our car needed $3600 in repairs, we would probably just buy another car for less than that.
–We don’t have to get full coverage. Really, we just need to save up $1500 for another car, if the worst happens! Sometimes we opt for limited collision and comprehensive, in case we hit another deer, but that still costs significantly less than full coverage.
–We keep a spare car in case one needs to be taken out of commission. We only insure 2 cars at a time though.
–The Volvo and Saturn are so simple that Rob does most of the repairs on them. While he has been through mechanics’ training, if you’re handy you could do some of the routine repairs, such as changing the belts or brake pads.
–We also work with a garage that will find junk yard parts for repairs, if you want them to.
So, we’re a bit less stylish…But then maybe not. I think the Volvo is so square that it’s hip!