I have a 2003 Pontiac Vibe which now has 175,000 miles on it. From what I have heard, the Vibe is a great high mileage car and I should have no problem running it another few years. However I have an opportunity to purchase a 2005 Vibe for about $5600 with only 88,000 miles. I could probably get $2500 for my 03 right now, so I would be out about three grand if I purchase it. I had no plans to buy another car, but this seems like a good deal and chance to get car in better shape.
My current income is $40k a year and my liquid stache is about $10k now. This is all my dad's idea and while I told him I am not interested in upgrading my car right now, I wonder if it is worth considering. Since I told him I do not have any funds I wish to use on a car purchase right now, he wants to buy the car so I can pay him back over time with no interest.
Is this kosher mustachian behavior, or would this be deserving of a face Punch?
What do you think, is it worth it? I had planned to run my current car for as long as I could, but perhaps one with lower miles at such a low price could be an affordable way to extend my time. I actually only paid $4000 for my current, '03 model when it was seven years old and had 100,000 miles on it. So I have put about 75,000 miles on it in 5 years.
Mustachian or face punch?