Archive | May 2015

To buy or not to buy a Car?

I announced to my colleagues at work that “I want to buy a car” and “with full down payment”.

They remarked – it is much cheaper to buy a car with monthly payments than buying a car with down payment.

How is it possible? until unless I get the automobile loan for 0%. And unless, it is a recession, there is no possibility of getting that kind of an loan. Can someone tell me, how does this work?

So, I did discuss with my partner about the “thought of owning a car”.  and his immediate response was -“do we need it?” and pointed out to various things that we could do with that money not invested in car.

The flash back-

Before I moved to NYC, I’ve had car. I got the used car on a loan, right out of my college. A mistake for which I really payed high premium (yes all the $$ spent on maintenance)..that was such a bad investment of my time, money, mental energy and swore to never buy an used car. Car was a necessity back then and seems like a luxury now. I do not need a car, It has been almost 5 yrs and it was easy to manage. Kudos to the amazing public transportation system. Besides, it is much easier to not own the car.

I missed the car initially, when I had to make quick trips to near by places for something, or carrying a groceries or going on an impromptu trip. I missed it dearly. Slowly, I got used to enjoying not having to worry about driving, insurance fees, parking difficulties, monthly car payments, fuel expenses, maintenance and urge to travel on impulse. Even though cost of living went skywards that compensated car related expenses, the peace of mind of not having car turned out to be amazing.

Current state of mind

Sometimes, I get carried away with wanting versus not owning a car. Car is a luxury for me, and I am in no excessive of funds to burden my self for buying one. I have been conscious of my wants and needs lately, and having no debt/ loan to pay back is liberating.

As you saw in my earlier posts about my path to minimalism. I have put a hold on impulsive buying and trying every possible way to get rid of unwanted things. Most of the times, it has been a difficult choice and I broke down several times with lot of clutter lying around in the home and feel my precious time goes into organizing stuff. I feel helpless and retard by looking at pile of stuff not knowing what to do with it.

But, not adding to the existing clutter has been great. Also, after so much of fore thought, analysis, taking a stock at my wants and needs, the decision to buy a car, only when I have sufficient funds seems like a best possible outcome for me. I just hope, my confused brain doesn’t waiver and come back to square one. This place is a  reminder for me to think – why I have made this decision in the first place.

What about you people?