The BF bought a new (old) car on Friday. We paid $2,800 in cash for it. It's worth more than what he bought it for and as he was looking for Jeeps, he found that the same year and mileage usually went for around $5,000.
However, lots of maintenance was needed and the Jeep belonged to his friend, so he got a good deal. Him and his dad are going to do all of the maintenance for less then $100, so it's a pretty good deal.
He also sold his old car just a couple of hours later. We kind of regret selling it though because it still had a lot of life in it, but oh well. It's gone and it would've just sat in our driveway, and we also don't need to have 4 cars for just the 2 of us.
He bought a white Jeep Wrangler that's in good condition. He's been doing maintenance this weekend and will continue doing the rest of the car maintenance next weekend. The one thing I hate about the Jeep is that it gets HORRIBLE gas mileage. His last car got an average of 29 mpg, whereas the Jeep only gets 17 or 18. Luckily the BF's job is only around 5 miles away, so the increase in our gas budget won't be that much.
He's happy too, so I'm not upset either. He is so in love with his Jeep that it makes me laugh. We sold his old car for the EXACT same price that we bought it for 2.5 years ago. So that's quite a deal. We also didn't have any repair costs for the car for the whole 2 years, so it's like we had the car for free. So now I felt like he deserved something better, and he's also been pretty happy all weekend.
His insurance went up slightly, but not too much. His insurance is now around $76 a month instead of around $34, but that's only because we added a $500 deductible for it. We're only going to keep this deductible on it until he gets used to driving a stick shift, since this is something pretty new to him. But after that, his insurance will drop back down to around $40 because he will just have liability on the Jeep.
Yes I would have loved to buy a car that got better gas mileage and one that I could drive as well (stick shifts scare the heck out of me), but he loves it and it was super cheap.
So altogether I'm guessing this car will add a little less than $100 to our monthly budget. But in a couple of months it'll just be around $60 to $70 extra each month. Which I don't think is too bad considering that we don't have a car payment for it. What do you think? It was probably not a great idea to buy a gas guzzler, but oh well.
What car problems have you had lately? Any car costs added to your budget lately?
A couple of other questions. Does gas mileage play a big factor into what car you end up buying? What factors trump others: gas mileage, the miles on the car, value, luxury, 4 door or 2 door, etc?
Subscribe to get the free Master Your Money course!
Join the free email course and finally learn how to manage your money better, pay off debt, save more money, and reach financial freedom. Get our newsletter and get access to the freebie: