It was the pretty good of times, it was the pretty bad of times…

Well, I finally jettisoned my 14 year old Ford Tempo, which was begging to be put out of its, and my, misery. It still ran OK (if grumpily), but stuff kept breaking. A month ago, for instance, the exterior driver’s side door mechanism shattered because of the Chicago cold, so that it couldn’t be opened from the outside of the car. Both doors were hosed, in fact. The locks had long ago broke on both doors, and the passenger side door could still be opened from the outside–that’s how I got in the car, obviously–but you had to manually press down on the outside door handle before closing it, or the door would fly open while you were driving. And the driver’s side seatbelt reciever was broken, so I was plugging my belt into the passenger side receiver…anyway.

Aware of my straits, and rather more proactive than I am, my mom, visiting from out of town, took it upon herself to go car shopping and basically called me out of the blue and presented with a car she found. All I had to do was go in and sign the papers. (Which made it about as good a car buying experience as one could hope for.) It’s a 2006 Hyundai Accent, Charcoal Gray, with quite a few more bells and whistles than the Ford. My family has owned a number of Hyundais, and always been pretty happy with them. First of all, stuff works on it. Doors, locks, seatbelts…the whole smear. It’s 12 years younger than the Ford, and has under 32,000 miles on it, so hopefully I can keep this car for a good, long while at the rate I add mileage. The Ford also got horrendous gas mileage, and with petrol here expected to hit $4.00 a gallon before summer, that is a major advantage.

Bad news…well, I HATE owing money. Even with an interest free loan from the Bank of Mom (and yes, I’ll be 45 later this year, and am fully aware of how pathetic that is), it will be three years at best before I can pay the car off, and man, I really hate owing money. I realize in our society a $8,000 debt is weirdly small to be someone’s largest such ever, but that’s how I roll. And given how much money I make, my debtophobia serves me well.

However, I think the car is pretty sleek, it works, it should be highly dependable, last a good long time yet, has four doors, which I prefer…all in all, it’s about as good as I could hope for, or want, barring winning some Publisher’s Clearinghouse money. And I have to say, it’s nice to have a car that I can actually get into and drive somewhere without a nagging fear that maybe it won’t start when I get back into it. By the way, this is NOT a sneaky solicitation for people to hit the tip jar. (I mean, if Bill Gates is out there, fine. Otherwise…) I appreciate people using the Amazon links, but with that actually paying for my bandwidth costs and Netfnow, frankly I don’t think hitting the tip

  • Danny

    Bah! You shouldn’t stop using a car until you slam the door and it collapses in hilarious cartoon fashion.

    But hey, now you’re driving in style. And $8,000 isn’t too bad a price.

    I hear you on the debtophobia, though.

  • Ericb

    Debtophobia is a good thing. More people should have it, though I expect if everyone got it the economy would collapse.

  • Danny

    It wouldn’t collapse, but it’d be a lot slower, kind of like how Japan’s been for the last…20-odd years or so.

    It’s weird. The reason we as a nation are so rich (compared to the rest of the world) is because we keep wasting our money. It’s wild.

  • sardu

    I massacred my credit years ago (long story) It had the effect of forcing me to *gasp* buy crap I could actually pay for. Downside: I may not be able to buy a house until I’m 50 (or can pay cash) and my car financing resembles yours… but I have ZERO debt beyond that and man is that awesome. We are the free, Ken ;-)

  • Ericb

    I have one more payment on my credit card and I’ll be completely debt free for the first time in 24 years.

  • Yes, this was a comedy sketch, but it really shouldn’t be:

    http://www.hulu.com/watch/1389/saturday-night-live-dont-buy-stuff

    Eric–Congrats, sir. That’s huge. Good for you. I know I look forward to VCP-Day (Victory over Car Payments) already.

  • Joe

    But think of all the ladies you “entertained” in the backseat of your Ford Tempo! All the bells and whistles in the world will never replace those memories!

    And by “entertained” I meant had sex with.

  • ADAMBOMB 1701

    I’m still holding on to an aging 1991 Tempo. The hood catch is broken, so the hood flops around as I drive. And, some jackass took out the bumper and parking light lens last year. The lens was easily replaced, but the bumper has yet to be. Although it looks like an easy enough job. Just got to find a used one.
    Until I’m no longer obligated to pay child support (my son is now 18, so there’s a light at the end of the tunnel) the Tempo has to keep going. Broken hood or not. Lucky for me, it still starts up reliably. And, no payments!

  • Ericb

    The only car I ever owned was a 1978 Datsun B210 that my parents gave me. It had been my father’s drive to work car and as he had a very long commute by the time I got it it had more than 100,000 miles on it. Despite that it was a tough little car and I had very little trouble with it. I guess you could call it the Japanese version of a VW Bug. I haven’t owned a car for almost 20 year now. These days I just use the subway.

  • KeithB

    You could argue that you are not in debt if the car is worth more than you owe.

    For example, I owe about $200,000 on my mortgage. However, even in these uncertain times I could probably get about $500,000 for my house. Therefore, I am not “in debt” because my asset is greater than my liability.

    However!

    In your case you probably paid no money down so the car will soon be worth less than what you owe. Than you will be in debt.

    It is silly to pay interest on a cheeseburger you ate in July for 20 years!

  • Danny

    “You could argue that you are not in debt if the car is worth more than you owe.”

    Well, you could. But then you’d be wrong. That’s not how debt works. Even if Ken were to win the lottery tomorrow, using a ticket he found in the car, he’d be in debt until he paid it off.

    “For example, I owe about $200,000 on my mortgage. However, even in these uncertain times I could probably get about $500,000 for my house. Therefore, I am not “in debt” because my asset is greater than my liability.”

    It’s alright people. I’m a professional. (Or will be next year, when I get my BA in Economics)

    You’re in debt because you owe money. This is the one and only measure of what debt is. Sure, you could sell your house and pay off your debt, but then

    a. You wouldn’t have a house
    b. You’d be $200,000 poorer than if you just sold the house without being in debt.
    c. Because of a. and b., you’d have to buy a cheaper house. And, therefore, you’ve lost the utility you would’ve got from the nicer, bigger house.

    Yeah, you’re $200,000 in debt, regardless of whether or not you can sell of your earthly possessions to pay it off, and I guess become a Buddhist monk.

    To what extent this should be keeping you up at night, that depends on how well you can pay it off.

  • Ed Richardson

    Around 2005 a wicked blizzard hit NYC and the electric door locks to my Honda CRV all froze. I had to open the back hatch manually and crawl in then start the motor to thaw the doors out.

    Having said that, I dated a lawyer in Chicago and drove over for a week and nothing I ever experienced in NYC is as cold as the wind whipping off Lake Michigan.

    It’s one thing to have to dig your car out of the snow, scrape the ice off and such, but all that’s acceptable compared to having to deal with frozen doors and locks.

    Congrats on your new wheels Ken. My ex-father-in-law owned two Hyundais and they’re terrific cars at great prices.