finally, own both my vehicles and increased my net worth by 10K

I have been a straight up idiot most of my life with respect to vehicles. Bless my wife for putting up with it all. November 2018 I finally got a clue. As I write this I am holding both titles to both of our vehicles. It’s the first time in my life I have held a title and it is completely mine. Exciting moment indeed!

Here is a recap of my relationship with autos and honestly the completely wrong way to do it.

I have owned driven 6 different cars or trucks in my life. 6!

I’m 33 by the way. This number doesn’t even include the 2 we own now.

The only halfway decent situation was when I 16. Worked two summers and managed saved $3,500 to buy my first car, Dad picked up the rest of the tab. It was a 1993 Toyota 4Runner. I loved it and it ended up being my sister’s first car as well. From there it went all wrong…

A quick list of the stupidity:

  • 2003 Celica: I wanted to be in the Fast & the Furious.
  • 2005 Ford F-350: thought I’d use it for landscaping, total waste of money
  • 2002 Subaru WRX: reliving my F&F days?? Waste of time and money.
  • 2011 Subaru Legacy: thought I would travel for work more than I did (I am a sales rep), never did.
  • 2012 Subaru WRX: worst of them all… this one was new.

That new car purchase makes me feel bad. I knew how dumb it was to buy a new car. Still did it anyway. It was a lessoned learned though. The internal justification to why that was a good move is another post altogether

My current whip is a 1991 Ford F-150. Cost me a total of $3,800 taxes and all. Wifey drives a 2012 Subaru Impreza we bought a few years ago, a stick shift I might add. Both are exactly what we need.

In November last year, I had the awakening and decided to pay off both. Still owed around $7k on the Impreza and $1.8k on the truck. Yea, I financed a sub $4k auto loan (insert sound of hand smacking forehead). Look, I haven’t made the best financial choices in my life, otherwise, I wouldn’t be writing the blog.

Paid off $8,800 in little under 4 months and with the value of the autos, it added around $10k to the net worth bucket.. hellz yea. It felt good doing it too.

The need for speed or the next big shiny toy is dumb AF!

ot to mention all the “upgrades” I had to have to be cool. Do you know what is really cool? Owning your cars outright.

So that’s all. Was meant to be a shorter post but I ramble. I will do a post soon about why you should buy an old truck. The side hustle opportunities are so choice.

Anyways, no blame-no shame right? Thanks for reading and… just shut up and save money.

6 comments / Add your comment below

  1. Nice job paying those auto loans off. Now your cash flow is much better. You’ll save and invest the extra money, right?
    How do you like the Subarus?

    1. I have one higher interest loan I need to tackle first then I will be able to enjoy the extra cash flow. I have owned many, they are really great cars! I always recommend them when anyone asks.

  2. Hi! I found your blog through Think Save Retire. I just read through all your posts so far and laughed pretty hard at the Fast & Furious references in this one. SUBSCRIBED! I had a similar moment 2 years ago when I realized I had great income but nothing to show for it. Our household (me, husband, puppy) had a great amount of collective income but a HUGE mountain of debt. I’m almost done paying off the credit card debt and working on student loans after that. Looking forward to more posts!

    1. Wow! Thanks for reading! I honestly didn’t think anyone would ha! You’ll have to forgive how new I am at blogging. I will get an actual sub list going soon.. when I figure it out.

      Yes, sounds like you are right in the same boat I am in now. Kinda of a.. well what have we been doing moment. Congrats on your progress! I do love this community how we all have each other’s back!

      Thanks again for the kind words! More post to come soon!

  3. Thanks for sharing! I laughed when you mentioned the new car being worst of all – only because it rings so closely to my own experience. I bought a new car out of college even though I really wasn’t in a good spot financially to do so. But paying it off finally felt so good 🙂

  4. This bummed me out a little to see your list of Subaru’s. I just paid of my car and am on track to pay off my student loans in the next couple months! (I’m also 33) I’ve been telling myself, my next car should be something I’ve always wanted – a Subaru SUV. I don’t know if that’s my heart thinking more than my head. I’m justifying it by all the camping I do (once a year). haha.

    Anyway, I love your writing! I also come across this from TSR. Keep it up!

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