Resourceful-Mom

My own worst enemy

Previously, I shared why experts say we shouldn’t purchase a new car, what I learned through my car buying experience and how well my first experience went. Well, my next car buying experience didn’t go quite as well.  But, like the 1st one, I think it was all in my preparedness or lack there of….

The 2nd car I purchased was a 1999 Toyota Corolla LE.  I used the exact same steps as far as financing was concerned; however, I was older and I felt a little more entitled.  This time, armed with a $15,000 pre-approval, I chose the total electric more expensive demo (I’m sure that’s an oxymoron) over the base model.   I told myself that I deserved  a car with extras.  So, add on the rear spoiler, wire it for a keyless entry (opening a truck was obviously beneath my $15,000 budget – smile), and put in an aftermarket sunroof that will remain closed the majority of the time yet somehow manage to let in enough rain to leak and enough sun to scorch the hairs on the arm I’d place on the arm rest.  Oh yea,  and don’t forget the extended warranty and I’ll pick it up in a few days, giving you ample time to build me a car, instead of my driving it home today. Smart, real smart.

With all of the extras added onto the car and my careless driving history, my car note and car insurance cost me a little more than $500 per month  for the 5 years that I paid for the car.  The car and insurance almost equaled my rent.

Very, very hard lesson to learn for a single mother recently divorced just starting a full time job.