Of God and Low APR.

January 23, 2004

We’re in the process of buying a new (to us) car. I haven’t purchased a car in about 6 years, when I made about half of what I make now. We really didn’t want to purchase a car, mainly because we’re starting to really clamp down by paying some long overdue bills and by putting back a little towards savings. But instead of throwing a couple of hundred back a month for car repair, for the same amount we could (we hope) easily get a newer car for the same price.

We originally started thinking about mini-vans, mainly because they’ll be nice when we finally start our family. But most of the ones we like, were priced out of our range. We found some, but another one of our “needs” is a warranty on the car. So that knocked all the others out. So we decided to downsize to a 4 door sedan, something a little larger than the Prism and a little smaller than the Jeep we’re trading.

On a similar note, my Mother has been car-less since August and was also looking separately at the same time. I found a nice deal as did she. And they worked with her bad credit. She purchased a 2003 Buick Century , a nice little car but it drove like an f-ing beast. So we went to where she found her car and drove a similar styled, 2003 Chevrolet Malibu . We like this car, and it fits our budget and hopefully we can drive it home this weekend.

I’m basically an easy sell: I’m not going to haggle on price, I can handle a high interest rate, and we really need another car. So while I’m an easy sell, I’m also breaking my personal rules and hope to pay a little higher, because (quite frankly) they have us where they want us. Sure the trade is the large selling point, I know what the KBB wholesale of the Jeep is and I also know what I’ll accept. If they’ll pay KBB, then I’ll be more than happy….I’d even take less.

I’m not going to say what the car’s worth, mainly because…well…because. But we’re paying less than what I purchased my Jeep for, back in 1998…..even with the hopefully higher interest rate. I looked around and for a higher price we could get a 4 year old Honda Accord with over 100k miles, a 3 year old Ford Explorer with about 90k miles or we could get this one year old, GM Fleet car with less than 25K miles _and_ a warranty.

I spent most of the day in the showroom. I walked around the lot, for over 30 minutes, while we waited around for the Finance dude to show up. They’ve gone over our numbers, but it’s too late in the day to hear an answer. We will definitely hear something + or – about our loan tomorrow.

We’re now praying to God as well as the wonderful credit granters at General Motors. Because if they give us the loan, I’ll definitely add more to the collection plate this Sunday.