Couple Money

We Bought a (Used) Car!

toyota celica

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We Bought a Used Car

Just an update, we picked up a car Tuesday. After hunting for a car for a bit, we found a great deal on a well cared for used car. Buying a used car was the best way for us to go.

The new (to us) car is pretty much what my husband needed and included a lot of what he wanted.  In case you missed the list, here's what he was looking for:

Why did with go with a used car from a private seller? Quite simply it was in our budget and we wanted to avoid getting a car loan.

Did you know that the average car loan being around $26,300 ? Comerica Bank frames it as almost half of an average person’s annual income. That $26,000 car has a monthly payment of around $464. We'd rather not getting a car loan especially when we've found a car that works for us.

A Car Fits That Our Needs

He also has a coupe and it does have manual transmission. He seems really happy with his pick and I'm glad I don't have to haul him around town. 🙂

The seller maintained the car well and had all the paperwork on the car, as in a box of paperwork. I believe that tipped the scale for my husband, as he felt that owner was more conscientious. I hope this car lasts for a bit and we can build up our car replacement fund again.

Buying a Used Car with Cash

For many of our friends, buying a car with cash isn't something that they've consider to be reasonable in their situations. I don't know their finances, so I won't second guess their decision. I will say that not having car loans has been beneficial for us for several reasons.

We're not the only ones living car loan free. One of my favorite blogs, No Credit Needed, has been tracking how they as a family have been debt free from cars for years. Based on their experience and others, we were inspired to start a car replacement fund.

If you’re looking for some more stories to help keep you focused, here are some of my favorites:

Thoughts on Buying Used Cars

How many of you purchased used cars? Have you've found them to be reliable?

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