Give Me Back My Five Bucks

I want a car!

I’ve come to realize that I’m impatient. Very impatient.

Right now, to go along with trying to get out of debt, get a permanent job, buy a condo, get caught up with my RRSP contributions, go back to school (?), and establish an emergency fund, now I want a car. I know I can’t possibly do all these things at once; it all comes one step at a time. But I want all of it now! LOL! Buying a car is definitely at the bottom of the priority list for me right now, but I can’t help but dream. I miss my old car. It’s a treat to me whenever I even get in a car nowadays. Not that I mind riding my scooter – it’s helping me achieve my goals by saving me money … but a scooter isn’t really that practical in the long run, and certainly isn’t going to do me any good if and when I move.

Of course, my dream car just happens to be a MINI Cooper S convertible – which is so completely out of my price range. But when I get one, I’m going to drive it into the ground. That’s how I’ll justify the purchase. I don’t want to buy a new car I’ll be just okay with for the next 20 years – if I’m going to buy it, I’m going to buy exactly what I want. And I know cars are the worst investment ever, and this is a total want vs. need scenario, but a gal only lives once!

I know I’ll probably buy used. A car that’s 1, 2, or even 3 years old doesn’t really bother me. Heck, I drive a scooter right now, so any car is better than what I’ve got (which is nothing!). According to Mini.ca, a brand new, bare bones MINI Cooper S convertible costs $36,600 not including tax, freight, etc. That’s a lot of money! Ones that are a few years old are going anywhere between $20,000 – $30,000 on Craigslist in the Vancouver area. I know I won’t be buying a car until 1) I’m out of debt, 2) I already have a mortgage, and 3) I have at least $10,000 saved up for it. So I figure that’ll be at minimum, 2 years away anyway. And maybe I can hold off longer than that … all I know is before I turn 30, I must have this car.

And you know what? I even feel guilty for even writing this post. I feel guilty for wanting something so expensive – for even looking at their website! I even thought about deleting the post, but that’s what this blog is for, isn’t it? The new frugal me says I should never buy a car this expensive because I’ll be right back in debt again, but the practical me says that it’s not that expensive if I plan on saving for it, and keeping it until it dies. Right?

Ugg, maybe I should plan on buying a fugly Yaris instead.

Author: Krystal Yee

I’m a personal finance blogger and marketing professional based in Vancouver. I’m a former Toronto Star (Moneyville) columnist, author of The Beginner’s Guide to Saving and Investing, and co-founder of the Canadian Personal Finance Conference. When I’m not working, you can usually find me running, climbing, playing field hockey, or plotting my next adventure.


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