It has been years since I have had to deal with the hassle of a car payment. I don’t like paying bills every month, especially when my income is so variable based on commissions. So paying cash for a car has always worked out best for me. Of course, thy are not brand new cars from a dealership – they are used cars that I find and decide to take a chance on and buy.
The problem with buying a used car is that you don’t know it’s history and you take a chance that there will be no serious repairs needed right away. After all the cars I’ve owned, I can say that none of them have been lemons but none of them have run trouble free forever, either.
Part of owning a car is deciding when the maintenance and repairs get to be too expensive to warrant keeping the car. I’m trying to make that decision right now on my Mazda. I just spent $2,000 on a rebuilt engine in January and don’t feel that I’ve gotten my money out of that yet. But now the brakes are acting up and the muffler is starting to rattle. So, I’m looking for repair estimates and trying to decide if I should get rid of the Mazda now or spend more money on it d try to make it last another year or two?