Yep, although my preference on a Black Friday is to be snug and warm at home, today I braved the shopping frenzy and headed out to the big ABQ.
My co-worker NC and I left shortly after 8 and arrived at our destination a bit after 10.
What was our destination?
A car dealership!
Yep, I bought a car today. Gulp.
I test drove and looked at two - a 2011 Nissan Versa ($10,900, 35k miles) and a 2010 Toyota Yaris (47k miles, same price.)
When it came down to it, I managed to force myself to ask - 10,500 including tax, license, etc? When told nope - not even 10,900 including those ... my friend and I actually walked off the property. Nobody followed us or tried to stop us.
We went to a Jack in the Box a few streets down and had a drink. 30 minutes later we went back, and I bought the .... Yaris!
The big differences between it and the Versa: power windows, power locks, keyless entry, nicer radio/stereo, more get up and go, and THE most important of all ... it is Blue!
I put down $6,000. $2k on my credit card (offering 2% cash back for Black Friday spending), $285 cash (from sale of Honda, babysitting money, etc.), and the rest in a check.
The remainder is being financed at 1.99% for 36 months with no early payment penalties. After signing the paperwork, the co-owner/salesman said that it was the lowest finance charge he'd ever seen ($170 something.) I told him that I don't plan on paying most of it (the finance charge.)
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So now that I have replaced my car, I need to do three things:
1. Pay back the loan
2. Save money for car repairs/next car
3. Get aggressive with saving for EF
My monthly payment is $154 something. I plan to pay $200/month on normal months. Months where I have a big boost in income (3 paychecks, tax refund) half that big boost will go towards the loan. I think I should have it paid off in 18 months or less.
I plan on putting the next $100/mo in the car repair/replace fund. This is a 3 year old car. I have to be ready and prepared for any maintenance items that might come along sooner than later.
The remainder of my savings quotient will go towards the EF, as well as 1/2 of any big income boost months.
This is the plan until I have the loan paid off. After that, I have an idea of what my plan will be.
Shopping on Black Friday
November 24th, 2012 at 02:25 am
November 24th, 2012 at 04:55 am 1353732954
November 24th, 2012 at 06:04 am 1353737042
You will have it payed off in no time.
November 24th, 2012 at 02:11 pm 1353766260
November 24th, 2012 at 07:28 pm 1353785287
November 25th, 2012 at 12:07 am 1353802045
November 25th, 2012 at 02:54 am 1353812094
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November 25th, 2012 at 09:08 pm 1353877694