Call Me Crazy... I Bought My Dream Car
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If you know anything about me, well then you know I’m all about frugality and not overspending. You must be extremely surprised then, to hear that I bought my dream car.
Don’t let the wording of fool you. My dream car is very different from what others may define as a “dream car.” Too most a dream car means a fancy schmancy Lamborghini, Ferrari, or the like.
My dream car the unassuming Toyota Rav 4.
Yes, you read that right. I’m all about practicality and getting from point A to point B in the simplest manner possible.
Don’t get me wrong, I would love a Tesla or a Mustanag one day. For me the car I’ve wanted the most for the longest is the Rav 4. And so I just made the purchase of a lifetime, a new Hybrid 2021 Rav 4 XSE.
Die hard, FIRE seekers would probably roll their eyes and say I’m not that dedicated to the movement or achieving FIRE. Quite frankly I don’t think I fit exactly into the stereotype of a FIRE seeker either. For them buying a new car is a sin and buying used is the way to go.
Despite what others may say. The Rav 4 was an excellent purchase. Hear me out…
1. It is new. My plan is to hold on to this car and run it into the ground. Toyota’s are known for holding on to their value and being great cars. I plan to keep this car a minimum of 10 years.
2. I got a great deal. Car prices are at an all time high right now due to shortages in material supply and chip shortages. I have been looking for awhile, I physically walked into several Toyota dealerships in different locations throughout the state and some multiple times. All dealerships are adding $5,000 on top of MSRP. Take it or leave it. No negotiation. I just so happened to walk into this specific Toyota dealership and they had a unique car that they were selling with only $2,000 on top of MSRP. This car was a demo car and had 800 miles on it and it was unbadged (meaning it doesn’t say Rav 4 on the outside - why most likely it was used in a Toyota commercial- cool I know) so it was discounted. I negotiated the price down to MSRP and got the dealer to throw in roof racks too (car buying tip: go purchase at the end of the month when the sales guys are trying to hit their monthly target and they will be more willing to negotiate). To give you some perspective on how great the price was. I had gone to another dealership a month prior, they were selling a used 2019 Rav 4 for $1,000 dollars more than my 2021 Rav 4. Insanity.
3. Supply chains and the international political climate are only going to get worse. I am reading the writing on the wall and expect that cars are only going to get more expensive. I knew I would need another car in the next five years or less because mine is too small and just not practical. I figure now may be the best time to buy one.
To learn more about what is going on in the world, check out this financial blog I read. Finimize.
4. Chip and supply chain shortages may cause the value of my car to increase vs. decrease. Cars are typically depreciating assets but we live in a strange world today and I feel like more now than ever my new car value has the potential to go up. I am no expert and I’m making assumptions so don’t take my word for it.
5. My vehicle is a hybrid car. Gas prices are going up. I’m actually saving money every month now because the Rav is hybrid rather than my previous gas guzzling vehicle.
All of the above has led me to take the leap and buy this car. Even though it is not my favorite color, it is an amazing car and I do love it.
Tell me in the comments, would you buy a car right now? Or would you wait?
Until next time,
Amanda
Please note: Consult a financial advisor before buying a car. The above constitutes my opinion and not advise on car buying.