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Author Topic: Today's the day I stopped the bleeding.  (Read 4420 times)

ChaseJuggler

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Today's the day I stopped the bleeding.
« on: February 13, 2015, 02:48:22 PM »
When I found this site, I realized that financing a $23,000 plug in car about 7 months ago was probably the biggest financial mistake of my life. It seemed like a good idea at the time, but the gas savings turned out to be trivial compared to the car payments, insurance, taxes, interest, etc.

Well today I'm rid of it. CarMax offered me $21,000 to sell it back to them! I got a fat check for $3,000 after paying off the loan, which helped me max out my IRA for 2014. The [mandatory] collision insurance is gone.

I'm now perfectly happy driving around in my much more reasonable $8,000 paid off car that still gets 50 mpg. The $900 a month of bleeding on my modest income is over!

I'm going to sleep so well tonight. =)
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DSKla

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Re: Today's the day I stopped the bleeding.
« Reply #1 on: February 13, 2015, 02:55:07 PM »
Congrats. What kind of car do you have now? Spending $8k for 50mpg sounds like an awesome deal.
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ninjaneer

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Re: Today's the day I stopped the bleeding.
« Reply #2 on: February 13, 2015, 03:01:15 PM »
I'm curious as well.  I got a Civic Hybrid with 120k mi for $6k last year and I get about 48 mpg.  My brother in law says I basically stole it, so I'm curious to see another data point.
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AlwaysBeenASaver

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Re: Today's the day I stopped the bleeding.
« Reply #3 on: February 13, 2015, 03:22:29 PM »
Well done!
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ChaseJuggler

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Re: Today's the day I stopped the bleeding.
« Reply #4 on: February 13, 2015, 05:30:41 PM »
2007 prius with 95k miles and a salvage title.

Our other car is a salvage title prius as well, and has made it 50k miles so far with just oil changes :-)
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Money Badger

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Re: Today's the day I stopped the bleeding.
« Reply #5 on: February 13, 2015, 07:19:29 PM »
F-ing awesome.
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Exflyboy

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Re: Today's the day I stopped the bleeding.
« Reply #6 on: February 13, 2015, 07:32:03 PM »
And the scales were removed from our eyes.

Amazing isn't it.. I bet you look back and say WTF WAS I thinking??

Good for you!
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Calvawt

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Re: Today's the day I stopped the bleeding.
« Reply #7 on: February 15, 2015, 09:45:05 AM »
Awesome move!  Congrats on a great deal for the new (used) car as well.


Sent from my iPhone using Tapatalk
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ChaseJuggler

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Re: Today's the day I stopped the bleeding.
« Reply #8 on: February 16, 2015, 05:46:40 AM »
Thanks for the kind words :-)
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mwulff

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Re: Today's the day I stopped the bleeding.
« Reply #9 on: February 16, 2015, 05:57:02 AM »
That's awesome. Nice move on your part and enjoy your growing stache.
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anon-e-mouse

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Re: Today's the day I stopped the bleeding.
« Reply #10 on: March 04, 2015, 11:46:54 AM »
Funny how few people would understand your excitement with "trading down".
Great job - keep going!
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Wow, a phone plan for fifteen bucks!