A Bigger Car

In the pursuit of living simply, I have actually succeeded in making my life more complicated.  Well, I might just be acting overly dramatic. 

Here is the ridiculous story.  When I first told my boss that I was getting married and one day would probably have children, after nearly falling off her chair she proceeded to tell (and tease) me how I was going to need a mini-van.  Now I know that some people love their mini-vans… great for you!  It is just not the vehicle for me.  I was pretty adamant with her that I would NEVER own a mini-van, even signed a paper stating that fact which probably still exists in my personnel file. 

So in an effort to prove her completely wrong, my wife and I purchased the smallest car we could find.  Well, not really.  We bought a Nissan Versa.  It is a decent economical car, pretty good on gas, and for its class of hatchbacks, fairly roomy in the back.  In our day to day life, it works pretty well for our family.  I mean, we have to finagle the recycling and trash in the back and give a push on the boxes before quickly slamming the door shut. 

Our problems have arisen when we travel.  This summer we took a few camping trips, and we had to pack around our son.  Literally.  The softer items went on top so that in the event of shifting he wasn’t bonked in the head with a cooking stove.  And truth be told it isn’t his stuff that is taking up so much room, it is ours.  Yes we are camping but that doesn’t mean we can’t sleep in comfort.  And this isn’t to mention how the back of the car sank down dramatically when we loaded our bikes on the back.  Yikes!  Sorry struts or shocks or whatever is back there.

 

So we need a bigger car.  And it is indeed a need, not a want.  We are a one car family, we don’t even like to drive.  When traveling we like to arrive at our destination, unpack and then travel by bicycle.  We also have been car-payment-free for the past year, snowballing that payment into other debt.  Knowing that it takes a village, I would love to get your thoughts.  Does it make sense to get a car just for vacations?  Is there something else we are missing here?  And, if we must get a car (thinking Honda CRV size), any recommendations? 

Is it a Good Time to Buy a Car?

People seem to be hanging on to their cars longer and longer during these challenging times. But at some point it makes sense to upgrade to a newer vehicle. A late model car will have less costly repairs and possibly better gas mileage, saving you money in the long run. With the annual spring sales upon us and car lots full of vehicles, dealers are moving into high gear to make deals and move their inventory. Now may be the ideal time to buy.

Here are a few things to remember to get the most car for the fewest dollars. First, you should determine how much you can afford to spend. Your overall monthly budget should include: your loan payment, insurance costs, gas, maintenance, and repairs. To figure out your monthly loan payment, you can use the “Calculators” on our website at umassfive.org.

Second, call or visit UMassFive to get your auto financing in place. Being preapproved can help you negotiate with the dealer about the price of the car, not a monthly payment. What good is getting a great deal on a car if your financing is costing you hundreds of dollars more in interest charges? In addition, we can tell you the true trade-in value of your current car so the dealer doesn’t underestimate your trade in.

This also would be a great time to “shop” for auto insurance. The market has become very competitive in recent years and you may be surprised by how much you can save. Just remember when you comparison shop, use the same types of coverage between policies. A policy may seem really inexpensive, but when you look closer it may offer limited protection and coverage or high deductibles you may not be able to afford. Also ask about discounts, as insurance agents use these as incentives to get your business.

Once you have found your vehicle, there are a few things you need to do before you sign on the dotted line to avoid a costly mistake. First, run a vehicle history report to determine if it was ever salvaged, stolen, or recalled, or if someone has altered the odometer. This is free and easy at Car Fax: http://www.carfax.com/. Most dealers will provide this report. Second, have your own mechanic put the car on a lift for a full inspection. This may cost you a few hours of his time but uncovering a major repair issue could save you hundreds of dollars and avoid a costly purchase!

Remember to give us a call when you are ready to buy because we have the experience to help you avoid mistakes and provide an auto loan that fits your budget.