Sometimes it is fun to gloat :-> Made the final payment on the XTerra today. About fucking time.
It has been through a lot and has served me well. Will be keeping it of course - no sense in ending a car payment early only to start another one!
This brings to mind an interesting rant I've had in the past. People's obsession with gas guzzling SUV's and their constant complaint that people should drive less. Think about it for a minute - if everyone who currently owns an SUV suddenly decides to sell it off - what is going to happen? Thats right, someone will buy it and re-sell it. That vehicle is going to stay on the road for some time. Yea its great to get more fuel efficient vehicles on the road - and I'm totally behind it. But seriously, its not going to solve much beyond: a) Filling the pockets of whatever auto manufacturer , b) filling the pockets of the bank whom you financed through ( IF you finance - ... hrm ) c) eat into your finances again.
There is this concept of cost/benefit and total cost of ownership. If you have a car payment of 500 a month and then add in gas at $4/gallon - what is your monthly cost?
a) 500 + ( (4*18)*3 ) + 150 = 866 per month
( $4 per gallon, 18 gallon fill-up. 3 fill-ups a month - then 150 for insurance )
b) 0 + ( (4*18)*3 ) + 150 = 366
Naturally, that is not including maintenance costs and such. We'll assume a few hundred over 3 months - it would average out. But wait, what happens if we get a cheaper car?
a) 350 + ( (4*10)*2) + 150 = 580
( Assume I get better mileage, 4-banger and all... fewer fill-ups etc )
b) 0 + ( (4*18)*3 ) + 150 = 366
That is of course assuming I can get an auto loan for $350/month. A lot of that depends on what kind of car I get and how much I put down - I fully admit. Working with simple numbers here. ( What I really want is a hybrid - but that puts me back at the freakin 400-500/month payment! )
