Maybe a silly question. Dave Ramsey devotees encouraged to comment.
I have a 50 minute commute to work. My current car has 355,000 miles, the a/c doesnt work, the radiator fan doesnt work. It’s ok as long as I keep moving. If youre moving forward there is enough air passing over the radiator to prevent overheating. 30 mins of my commute is ok as its interstate. Once I get into town, the last 20 mins I deal with by shutting off the engine at red lights and turning on the heat in slow traffic. (uncomfortable to say the least in 90+ temps in the southeast USA in summer).
Used cars seem to be selling at a premium in the current economy. My gut and personality says find something reliable for $5000 (could pay cash) but that sort of deal seems a bit hard to come by. Such cars exist, but they are high mileage. Like pushing 200K miles type high mileage. I may get lucky and find a gem but I also may get a money pit, then i’m out my 5K and i’m paying for repairs.
Anyways, I got an '06 Accord yesterday. Sorta. I became hesitant when it was time to sign, so they said keep it till tuesday. It’s really nice to have A/C and smooth ride and relatively low miles (95000) and no fear of being stranded on the interstate. I dont have any other outstanding debts, but my stomach has been turning since yesterday.
Is 13,900 (financing $11000) a bit extravagant on $40,000 per year? I know there is no fixed answer, everyone’s circumstances are different.I just want opinions. My gut is saying take it back but then the idea of another day of driving in the summer with the car heater blasting makes me want to hang myself.