subject: Go Broke and Get that New Car [print this page] Go Broke and Get that New Car Go Broke and Get that New Car
Go Broke and Get that New Car
I have sometimes been accused of being negative about new cars, and to some extent that is true. Over the years I have seen the bondage that buying new cars has placed on many couples. However, if someone has his finances under control and can save for the cost of a new car, it is his decision whether or not to buy one. One person may think a new car is a bad buy, while another may think it represents better value. But the one thing neither of them can disagree about is that when you borrow money to buy a new car, you are going to become surety for the loan.
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For most of my adult life I never bought a new car, for two reasons: one, I didn't have the funds to pay for one, and two, I couldn't see the need for one with so many good used cars available. In 1979 I was driving a ten-year-old station wagon with well over 100,000 miles on it, and I knew that I would have to buy another car within a short time. Then one of my sons attempted to back my car up our very steep driveway during a minor ice storm. Backing up our driveway in good weather was a real trick, but it was impossible in bad weather. Like most teenagers, he was not to be stymied by a "small" obstacle such as an ice storm, so he kept trying until he burned out the reverse gear.
The next time I got into my car I discovered it whirred but wouldn't move in reverse. So we got several of the neighborhood kids out and pushed the car around in the driveway so that I could pull up the hill. For several weeks I drove it anyway, while we all prayed about what kind of a car I should buy. It didn't seem logical to spend the money to repair the old wagon when it had so many miles on it.
