With my car in my garage, and repair bills topping $1,500, the thought did cross my mind is it time to replace my car? The short answer is NO. See, I had roughly $1,000 in my car replacement fund. The other $500 for the repair work came out of our emergency fund. Now for the longer version of the story.
While my car was in the shop and I was begging for rides to and from work, I started thinking what a hassle this is. I should be looking for a replacement car and say goodbye to the bug. After all my parents and mother-in-law were telling me it was time for a new car. Then I woke up.
See, here's what really matters.
- The average car payment is now $350 over 60 months. In one year that's $4,200. Much more than the $1,500 I spent in repairs.
- I'm never, ever going to be a slave again to a car payment. It's just not worth it.
- My son will be behind the wheal in 6 short months. I don't want him to think a car payment is the way "dad buys cars".
- I believe God will reward me for staying out of debt.
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