HAPPY NEW YEAR!
It is 2016 and this will be an amazing year.
3 days ago I bought a used car at an auction. I paid $5000 for it using my SINKING FUND! In fact, I have several thousand dollars left in the sinking fund because I bought a used car BELOW BUDGET! It was so clean and the mileage was so low (less than 92,000 for a 2006 Mitsubishi Galant), that Ithink it was a rental car. I've been wanting to purchase a rental car for a few years, but they were just above my budget limmit of $10,000.
After purchasing it, I noticed it jerks when I shift gears. Many of the electrical components didn't work (interior lights, radio, clock, key remote, and more). The power locks only worked when the car was running (big hassle). There was no spare tire.
I prayed before the auction and left there with peace. However, I was struggling to keep that peace as I pondered the problems that I discovered later. I wondered how much it would cost to bring the car up to par.
Well, today my uncle checked the fluids for me. All of them were clear and full except windshiled washer fluid ($3).
Then, a store clerk at O'Reilly's Auto Store came to look at my fuses to help figure out which I needed to get the electricals working (assuming, hopefully, that it wasn't a more serious problem like the car had been immersed in water and the electrical system was half-fried). Well, the store clerk pushed in some of the fuses and suddenly the radio, clock, car charger, power locks, and interior lights all came on. ($0). The key remote light also came on, but now it has to be reprogrammed.
The store clerk also tested to see why the "check engine" light is on. He detected a problem with the transmission sensor.
Then I took the car to Sears where they checked the battery for free ($0) and told me it was in very good condition. I bought floor pads on clearance for $12.
Finally, I bought WD-40 to get the auction's paint off the windows of the car. ($5).
I spent a total of $20 improving the condition of the car today. All necessary functions are there.
I'm down South for Christmas break, but when Iget back North, I'll have my own mechanic or a Mitsubishi mechanic check out the transmission. I hope that it's not an expensive problem to fix. However, even if it is, I probably won't complain too much. It's running and I saved money buying it below my budget. I'll also get the key remote reprogrammed.
Paying cash and buying below budget gives me peace when Ithink about getting repairs done. I am even thinking about getting the car repainted into a dual-tone. That's also something I've been wanting for a long time.
Though I hope I don't feel the need to live in my car again in the future to pay down debt or save big money, this mid-size car is larger than my compact Honda. I may have to lie down in the back seat just to get a feel for what that's like.