the non-FIRE-friendly car

Hi reader,

This has proven to be a painful post to write, because it’s very authentic to the internal struggles I’ve had about a recent purchase. Until recently, Al and I each had a compact car (two of basically the same car in different brands). My husband had his car since 2009, and I had mine since early 2011. They were both paid off in or before 2012. We also inherited a somewhat unreliable work truck from Al’s dad when he passed away.

Initially, I wanted to buy a new car before Bo was born. We had Bear dog already, and our cars were so small. We started the conversations, but held off. Then Al’s mom moved in with her own compact car. We then had 3 compact cars and a truck. Al is 6’6″ and his mom is 6’1″. I am 5’8″, the car seat is… huge, and the dog is a chunk.

The breaking point was when we all decided to go our favorite trail spot, about 10 minutes from our house, and my MIL’s knees were in the dash, my knees were digging into the back of the seat, and the dog was on my lap. It was officially time to car shop, so I sold my low-mileage 2008 car for a price I was happy with: $4,500. We also made the plan to sell the truck toward the end of the summer, when we’re done using it for some backyard projects.

The week that we went car shopping was the week that I first heard about FIRE.

But, sometimes these things take time to sink in, time to wrap my head around. We had saved enough to buy a 3rd row SUV, and that’s what we did. We purchased a brand new Subaru Ascent for the whopping total of around $45k (including registration and taxes), in cash.

Thar she is. Or he. The car’s gender is still up in the air.

I have such mixed feelings about this car. On one hand, we could clearly afford it, at least on some level. We had the money in cash! On the other, there’s so much else we could have done with the money. With three (tall) adults, a dog, and a massive car seat, the space is not taken for granted. This car is 100% not FIRE-approved, and I definitely have some buyer’s remorse about the price. Just kidding, it’s a lot of buyer’s remorse. But only about the price, the car is frickin’ awesome. I do realize that we could have gotten something a lot more modest, for a much lower price. There’s no justifying that price when you think about the path to FIRE.

Prior to the FIRE discovery, our motto was (more or less): Buy less stuff, but the stuff we buy and that’s important to us can be really nice. We usually hold out for a long time for new things, and then get really quality (and sometimes indulgent) items. This can be a good and bad philosophy: on one hand, we buy fewer items than our peers, and the items tend to last a long time. On the other hand, we tend to spend too much on the things we do buy. This car is case in point.

This car could (literally) last us 20 years, as we carpool to work and only had a combined total of ~130,000 miles on both of our old cars, prior to me selling mine. And we also know that this will likely be the most expensive car we ever own. It will be the car Bo grows up in, we go camping in, etc. When Al’s car dies, we intend to replace it with a moderately inexpensive electric car, and probably commute in that car. Hopefully we have a few more years before that happens. We’ve also talked about only sharing a single car between the two of us, since we carpool (and could use my MIL’s car in a pinch).

However, if this car no longer serves a solid purpose in our lives, we will sell it. I can’t fathom doing that right now, since we’ve fully utilized it multiple times per week since we’ve gotten it. However, my (new) FIRE mindset is starting to allow me to be open to alternatives in my life that I wouldn’t have considered before. And so, reader, I will be more open with this purchase, and future purchases, to make better decisions when the opportunity arises. And this has been a big, giant, expensive, luxurious lesson in life and on the path to FIRE.

What do you think about our future car plans? Go electric? Share a car? How have you handled a large purchase for which you have buyer’s remorse?

Cheers,
Mel

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