BMC Posted March 10, 2008 Share Posted March 10, 2008 1. DS hit the neighbor's car while backing into our parking spot = $1589 + a week's car rental 2. DH hit a car while making a left turn (2 of 3 lanes had stopped to let him turn - the third was a right turn only lane (but not at the entrance to the church lot he was turning into) = $1000 deductible + lawyers fees ($?) for the lawsuit 3. 17yo car fatally broke down on DS while 1 hour from home = $200+ parts to attempt repair (didn't work), 2 extra tanks of gas ($70) for fetching son, travel back and forth trying to fix the car, fetching parts etc, towing fee ($?), diagnostic at repair shop ($?) + possible repair ($?) 4. DH shopping for new car = $30K+ So much for debt free. Quote Link to comment Share on other sites More sharing options...
Maria/ME Posted March 10, 2008 Share Posted March 10, 2008 Think how much worse it would all be if you WEREN'T debt free and had same above problems? And this isn't debt from making bad choices (like mine) or wracking up credit cards. I would consider this (for lack of better wording) honorable debt. Cheer up!! Getting out of debt is amazing!! And you did it! Quote Link to comment Share on other sites More sharing options...
Excelsior! Academy Posted March 10, 2008 Share Posted March 10, 2008 A week's car rental should not cost that much! DH works for a rental company and we rented a Lexus minivan for 2 weeks for under $500. That included taxes, insurance, etc. We did get a discount, but it wasn't more than 15%. I would shop around if I were you. Why would you purchase a new car at $30K? Can't you do some research and purchase used. We ALWAYS do. If you search you can find something decent for little $. Our goal is to never again have a car payment. When you have a car pay yourself a car payment into a savings account. Then when you need to purchase a car you will have $ set aside. This will not help you in your current situation, but could be helpful in the future. Quote Link to comment Share on other sites More sharing options...
PariSarah Posted March 10, 2008 Share Posted March 10, 2008 Oh, that must be so frustrating! Whatever you can do to deal with this mess without debt, do. It can't be any fun, though. :( Quote Link to comment Share on other sites More sharing options...
KIN Posted March 10, 2008 Share Posted March 10, 2008 I'm sorry that you have some unexpected bumps! I agree with Excelsior! Academy - why buy an expensive new car? Buy used, as cheaply as possible and start putting away money for a better car without a car payment! We don't plan borrow money for a car again. Quote Link to comment Share on other sites More sharing options...
lynn Posted March 10, 2008 Share Posted March 10, 2008 Ditto with the others. Why go back into that much debt when you don't have to? There are very good used cars out there. Quote Link to comment Share on other sites More sharing options...
Basketmaker Amy Posted March 10, 2008 Share Posted March 10, 2008 Hang in there! Be thankful you were debt free before this happened! Do as much as you can to stay debt free. Quote Link to comment Share on other sites More sharing options...
jmgconner Posted March 10, 2008 Share Posted March 10, 2008 Oh no, Murphy found you! I agree with the others - First, thank goodness your are debt free. Second, where's your emergency fund? I think this qualifies. :) Third, don't buy new. Get a decent used car. Hang in there! I can't wait until we're debt free, and it's you and others like you who are an inspiration to me! Quote Link to comment Share on other sites More sharing options...
BMC Posted March 10, 2008 Author Share Posted March 10, 2008 about $1000 - which, to DH, means anything under $1500 - :confused: We will postpone the other repair the car needs, but it does mean DH will stop looking at new cars. In his defense, he did look at some used cars. As for the inquiry about an emergency fund - we were building one but DS's accident took what we had in that. And while I'm at it...... 5. DS showed me another spot on his car that needs body work/repair - HE hit a light pole in the church lot. Of course it was not in the same area as the repair needed from his accident so it will be on us He already authorized it I just hope that I can manage it all and get back the amountI had set aside for DD's camp this year. :rolleyes: Quote Link to comment Share on other sites More sharing options...
Gamom3 Posted March 10, 2008 Share Posted March 10, 2008 If my ds had an accident, he would be paying me back if he didn't have the funds to pay for it himself. Once ds gets a car, all cost are on him...insurance, gas, repairs, etc.. Quote Link to comment Share on other sites More sharing options...
Audrey Posted March 11, 2008 Share Posted March 11, 2008 If my ds had an accident, he would be paying me back if he didn't have the funds to pay for it himself. Once ds gets a car, all cost are on him...insurance, gas, repairs, etc.. ITA on this. His accident. His cost. It's a good lesson to learn. Quote Link to comment Share on other sites More sharing options...
cricket1178 Posted March 11, 2008 Share Posted March 11, 2008 A week's car rental should not cost that much! DH works for a rental company and we rented a Lexus minivan for 2 weeks for under $500. That included taxes, insurance, etc. We did get a discount, but it wasn't more than 15%. I would shop around if I were you. Why would you purchase a new car at $30K? Can't you do some research and purchase used. We ALWAYS do. If you search you can find something decent for little $. Our goal is to never again have a car payment. When you have a car pay yourself a car payment into a savings account. Then when you need to purchase a car you will have $ set aside. This will not help you in your current situation, but could be helpful in the future. We have been able to payoff all credit card debt. We have our initial $1000 and are working on our fully funded emergency fund. But, with doing this, we do not have the extra money to put back for a car. We are constantly having to deal with break downs (spent almost $700.00 in repairs this month) so we are needing another car desperately. So, what would you do? We don't want to go into debt for our car. Quote Link to comment Share on other sites More sharing options...
lynn Posted March 11, 2008 Share Posted March 11, 2008 We have been able to payoff all credit card debt. We have our initial $1000 and are working on our fully funded emergency fund. But, with doing this, we do not have the extra money to put back for a car. We are constantly having to deal with break downs (spent almost $700.00 in repairs this month) so we are needing another car desperately. So, what would you do? We don't want to go into debt for our car. If repairs are becoming more than a payment on a good used car go for the good used car and pay it off as fast as you can. Quote Link to comment Share on other sites More sharing options...
Amy in Orlando Posted March 11, 2008 Share Posted March 11, 2008 If my ds had an accident, he would be paying me back if he didn't have the funds to pay for it himself. Once ds gets a car, all cost are on him...insurance, gas, repairs, etc.. Yep. This is how we would deal with this situation also. I hope the rest works out well for you and you don't incur too much debt. Quote Link to comment Share on other sites More sharing options...
ConnieB Posted March 11, 2008 Share Posted March 11, 2008 Unless the dents are somehow restricting the use of the vehicle (for instance a panel touching a wheel so it can't be driven) or something along that line, then I would just not get it fixed right now. Yes, it's ugly, but maybe it would be a reminder to use a little more caution in driving. I drove my car with a nasty bang on it from when I was careless, not paying attention when I should have been and backed into a pole in a parking lot. Could have paid my $250 deductible and had the insurance fix it, but we didn't have $250 extra. Having to look at that dent everytime I got in the car (it was on the back corner panel on the driver's side...no way to avoid seeing it)....it really made me much more cautious about backing up. Now I find myself driving through a parking space so I'm in the opposite spot facing out, so when I go to leave I don't have to back up. But it's made me more aware. Perhaps your son could learn the same lesson I did! The good news is that I learned to be less careless through a small "no one else's car got hurt" accident. I shudder to think what might have been next! Now, one caveat....if you are leasing the vehicle, then you will eventually have to get it fixed if you're going to turn in the vehicle...or they'll charge you outrageous fees because the value of the vehicle has gone down. For us, we run our vehicles until they die (currently over 200k miles on that vehicle), so I don't worry so much about it's resale value. By the time we decide it's time for a new vehicle, this one wouldn't be worth anything even if it was pristine body! Even if you would prefer to fix it "just in case" you decide to sell it someday....it is certainly something that can wait and be budgeted for....and if your son is old enough to drive, then he's old enough to get a part time job to at least help you save up for it, if not pay for it all himself. My parents made me purchase my first car.....then they paid insurance while I lived at home, but license, repairs, gas, maintenace...that was all my responsibility. If I couldn't afford those things, then I was back to walking (and I think that's why they paid the insurance, so it was always going to be covered!). The first time I "lost" the car because it needed a new tire I couldn't afford and I had to walk to work for a couple of weeks, I learned the value of saving a little money for these unforeseen emergencies, and not buying the newest record (yes, I'm that old) or going to the movies every weekend with my work wages. Congrats though on getting your other debt gone....that's a lot of work and you should feel proud. I agree with the other poster who said that it would feel much worse if you still had that other debt on top of this new. We keep as little debt as possible (house only right now)...but every once in a while life jumps up and bites us, and I just thank heavens that we're able to take on some debt and work it off without one emergency pulling us under. That's just life. It's how you handle it that matters. Quote Link to comment Share on other sites More sharing options...
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