I don't need your approval for my car

I must admit that I sometimes have unkind thoughts towards commercials that tell folks they can get credit regardless of their situation. Actions have consequences, and we don't really need to have brand new cars if we can't afford them. If your credit score is low, you are a high risk, or you don't have enough debt history to make the creditor comfortable.

Listen, credit is just a line of debt available to you. Creditors give you the opportunity to go into debt. You are indebted to them which means they own you. Why not save up and pay cash for your next vehicle. It pays off in so many ways.

2010 has been an interesting year for my household. I totaled a vehicle on January 31 after hitting a patch of ice outside our subdivision. I enjoyed the vehicle for the two months I owned it. I was very thrilled to know that it was valued at $1500 more than I paid for it.  I used that CASH to buy my truck for CASH off of Craig's list from the guy I bought the first vehicle from. It's taken a few hundred dollars to get the truck completely good, but it's paid for and runs well now.

Less than two weeks ago, our daughter also had a crash. While she was fine, her car was totaled as well. The good news is that she is likely to receive 50% more than she paid for the car because we bought it used for cash. This past weekend, we went to an auto auction for the first time. They had a car that was similar to her old one. We went with the expectation to pay up to $3000 cash. After inspecting the car, we decided $2300 was our limit. We won the auction for $1850. The car needs some work which may eat up the insurance money when we're done. However, Mary will have a paid for car.

If you're in the market for a car, try looking for one on Craig's list, eBay, auction, or private party. Not being slave to a lender with a payment will provide you relief that a new car can't.