December 26th, 2013 marked the 10-year anniversary of a very special relationship. The old girl in question has been so good to me and my family. She’s reliable, hard-working, and still a little pretty in spite of her advanced age. Sure, she often has a “rode-hard-and-put-up-wet” look to her, but I don’t mind. Even though at times she feels unsteady and rickety, she still delivers one heck of a ride. While I don’t really “love” this aging wench, she does have a special place in my heart.
Yeah, my 2002 Mitsubishi Galant has been very good to me! Ten years ago we paid $10,500 for this “sweet” ride. Since then, I have replaced the tires thrice, the timing belt twice, and the air condition once. (I might have changed the tires four times, but I wanted to use the word “thrice.”) When I bought her, she had 46,000 miles on her; today she has over 257,000 miles! Here she is:
|The Chick Magnet|
Earlier this year her wheel covers fell off, and she looked especially bad. So, I forked over $20 for some smoking hot wheel covers, and she instantly looked 300 pounds lighter and 10 years younger.
A few months after we bought the Mitsubishi, we bought a used 1998 Volvo S70 for $7,000. We’ve used the Volvo as our secondary vehicle, so we’ve only put about 35,000 miles on it over the ten years. The good news: we haven’t had to buy a car since May of 2004! Sure, we have spent money on gas, oil changes and basic maintenance, but we haven’t spent a dime on car payments. (Actually, I have never had a car payment while my wife had one over 20 years ago.)
Without a doubt, these two reliable cars, sans car payments, have helped us to maximize our savings and build our net worth. While these two girls have served us well, we know that eventually we’ll have to put them out to pasture. Until that time comes, we plan on saddling them up and ride’m hard till that can’t go no more…giddy up girls!
|Health Savings Account: We use Elements Financial to access commission-free, low-cost Vanguard ETFs at TD Ameritrade.