Maybe Dave Ramsey isn’t right about everything…

I despise and detest money. Actually, I despise and detest credit and the process of acquiring it. Yes, for the past few months I have run the gamete when it comes to financing cars. I have never had a credit card, never made a major purchase, and never been in debt even when it came to my college education. Because of that, no one would touch me when it came to financing a car; except with interest rates that went through the roof and I was not about to knowingly ruin myself. I looked high and I looked low. It was incredibly frustrating.

I finally broke and asked my sweet dad to co-sign on a loan with me and he agreed. And so the search continued. I had a pretty strict budget and was fairly adamant that the mileage be as low as possible and that it be a vehicle that I can drive with 1) confidence that it won’t break down, and 2) confidence.

For those of you who know me-from age 16 to the present-you are probably aware of the thorn in my side known as my dear little Buick LaSabre. It looks kinda like this:

Only, a little lot worse.

Yes, I have driven this little gem since I was 16 with a short spurt driving a newer version; the 2001 model:

The 2001 was fun because it had leather interior and my former boss loved for me to drive, stating that it was “like riding on a sofa.” And I have to agree. It was super comfy and made many a drive from Columbus, Georgia to Weaverville, North Carolina. However, Sarah Ann got that car when she moved to Atlanta to attend Georgia Tech. My parents thought process was that it was a safer, newer vehicle and Sarah Ann needed it more. They were probably right.

Let me be very clear about one thing before I go any further. I am ETERNALLY grateful to my sweet parents for allowing me to use their car all this time. It has gotten me from point A to point B for a long time and I am just grateful for a car.

However…it is time to move on up in the world of cars. And I have never been more excited about moving up in any world. Ever.

So, the search was on. I looked a variety of vehicles ranging from SUVs to sedans:

2003 Jeep Liberty Sport
2011 Subaru Outback
2008 Volvo S60
2008 Civic LX

Dad began looking too and enlisted the help of his trusted car-buying guy, Gippy (what does it say about us when our car- buying guy’s name is “Gippy” and our mechanic’s name is “Spanky”?) and every time the Manpanion saw anything that looks half way decent, he turned around, called me, and gave me the number to call.

Finally, Gippy called and said he had this beauty:

2003 Cadillac CTS

It has 42,000 miles on it and, frankly, still looks brand new. After saying no (too much on the price), and then re-negotiating, we said yes! and the car is MINE. Great gas mileage, great price, incredible interest rate, and one fantastic dad.

One snafu with the loan-the car is older than seven years-but Dad is a machine when it comes to good credit (love that my dad is a man of his word and that it shows even in his credit) and he has banked with the same company for years, so they were able to work with us. Just goes to show that integrity and relationships translate in almost every situation.

Establishing credit, one (relatively small) car payment at a time. Take that, Dave Ramsey.

One Comment Add yours

  1. KP says:

    Or you could just pay cash. Save your car payment (average is over $400/mo). Let’s say you save $400/mo for 10 months driving the apparently, perfectly fine LeSabre. Now, you have $4000 to buy a decent used Accord, Taurus etc. Already you’ve stepped up in car with no debt. Now, do it again. When you sell your $4K Accord, you’ll get most of that back since the car has already depreciated. Now you’re driving an $8K car 20 months in. Do it a few more times and you’ve got a pretty sweet $16K car in just over 3 years. No debt, no liabilities. Don’t forget that even the first $4K car was already an upgrade.

    Like

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