My wife and I are casually shopping for new-to-us cars. Both of our cars run fine right now, though with some ailments that we’ve learned to live with. Like, her car’s radio amp doesn’t work and to replace it would be a costly undertaking as it was a “premium” sound system in its day and many of the OEM parts are no longer available. A leaking moonroof. Stuff like that. We’ve been saving and our plan is to replace one or both of our cars next Spring. To the savings end, we have a car fund built up in addition to a fully funded Emergency Fund of several months’ worth of expenses.
It’s very reassuring to know that if one of our cars keeled over, we could operate on one car for a week or two while we shopped and found a deal on a replacement. And for us, a replacement will be a 2-3 year old vehicle in the $15,000 to $20,000 range paid for in cash.
Thanks for reading! In an upcoming post I’ll discuss myths and truths of new and used cars. What are you saving for? What in your life needs replacing, apart from whatever emergency might arise? Let us know in the comments below.