Nused Car Account is Fully Funded

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Sam
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Nused Car Account is Fully Funded

Postby Sam » Fri Aug 29, 2008 11:44 am

We now have saved $17,000 to buy a nused car for me.

We've started our car research and the plan is to make a purchase towards the end of this year.

We've now moved on to 2008 Savings Goal #4 - baby fund of $5,000.
Sam

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dtr
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Postby dtr » Fri Aug 29, 2008 12:40 pm

What is a "nused" car? :)

What type of car are you looking at?
DTR

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kmull
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Postby kmull » Fri Aug 29, 2008 2:23 pm

nused -> new used car (a used car that is new to the buyer)
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Re: Nused Car Account is Fully Funded

Postby DebtFreeCrusader » Fri Aug 29, 2008 5:09 pm

Sam wrote:We now have saved $17,000 to buy a nused car for me.

We've started our car research and the plan is to make a purchase towards the end of this year.

We've now moved on to 2008 Savings Goal #4 - baby fund of $5,000.


Good Job
what kind of car are you looking to get?
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Greenewashed
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Postby Greenewashed » Fri Aug 29, 2008 5:18 pm

dtr wrote:What is a "nused" car? :)



Yeah, this is one I don't get, either. Of course anything you buy is new to you. Otherwise you wouldn't be buying it, you'd already own it.

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dtr
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Postby dtr » Fri Aug 29, 2008 6:50 pm

kmull wrote:nused -> new used car (a used car that is new to the buyer)


Figured it wasn't a typo the second time she nused it.
DTR

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Postby boorpoy » Fri Aug 29, 2008 9:28 pm

A nused car is a new-ish used car, practically new. So, 1-2 years old.

ElizabethAnn
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Postby ElizabethAnn » Sat Aug 30, 2008 6:44 am

That's great about your car fund. Congratulations. Be sure to buy a very reliable car, especially if you're going to be having a baby.

Sam
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Postby Sam » Mon Sep 08, 2008 2:56 pm

We bought the car on Saturday. I wrote a check for the full amount and drove it home. It was wonderful! The conversation with the finance guy was interesting.

Nused car, is a gently used car a couple of years old. Not sure who came up with the term.

We bought a 2006 Nissan Maxima.
Sam

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MaskedMarvel
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Postby MaskedMarvel » Mon Oct 20, 2008 5:15 pm

Excellent! That's the way to do it. You probably saved thousands that way plus you don't have any payments so that way you'll save up back quicker.

Congrats on the Maxima, that's a nice car.
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Sam
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Postby Sam » Tue Oct 21, 2008 10:00 am

Thanks MM, I felt great when I recently received a copy of the title in the mail and the lien holder section said "none".

I've had a couple people ask me if I bought or leased the car and I've responded, in a gentle manner, that I bought the car out right. That statement tends to trigger a number of questions - "how could you afford to buy a car in full" "you mean you didn't finance the car, why not", etc. I try not to get preachy with people, but I want my friends to know that its possible to save up for a car and buy it with cash.

And my answer is - I drove my last car for 9 years (and my last car was paid off in 2002 so I had 6 years of no car payment) and I saved, saved, saved for the nused car in order to pay for it with cash. Next year we'll start saving for a replacement car for Mr. Sam.
Sam

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Postby sandi_k » Tue Oct 21, 2008 10:52 am

Sam, you're so right.

We have bought other vehicles outright, including paying cash for our van, a trailer, and two jetskis. In contrast to a friend who financed the tow vehicle ($30K) the jetskis ($25K) and the trailer ($2K). Oh, and an RV - $64K on a 20 year note.

Their entire financial plan is the day in three years when they no longer have to pay $1000/month in child support.

One of the jetskis is trashed from "friends" running it aground and refusing to pay for the damage; they jack-knifed and damaged their first trailer, so they went out and bought another one. Excuse me, financed another one.

They're upside down on their house, we just learned (we suspected it, but they talked about it when last we were together). Part of why they're upside down - and now trapped - is they refinanced to finish paying off the "toys" - 4 years into 5 years of financing.

It makes me itchy - I cannot believe how "we can afford the monthly payments" has snowballed into more than $120K in "toy" debt.

Sandi


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