Possible Car Plan
November 1, 2010
By Scott Lewis
My oldest son is coming of driving age. He is 15, old enough for a
permit. We are holding that back as incentive to keep his grades up. But
sooner or later he is going to WANT a car. I did not drive by myself
until I was a senior in high school. My son will be a junior next year.
So I think I may have to do something about it. If you have read my other column you are aware that my wife and I have separated and I am working on Life 2.0.
If I am going to get a car for my son to drive I am going to get the cheapest car to insure... a sedan. I currently drive a Mini Cooper S, and it is tight when both my sons are with me. That is only going to get worse as they get older. But I have a plan that I think will work for both me and my son.
I am going to save for a reliable, but inexpensive used sedan. A Honda Accord or Toyota Camry, or something similar. This will not be my son's car. It will be my car. I will leave it parked at my wife's house when I am not using it. This will allow my son to have a car to use.
However, when I go to the house to pick up both boys I will leave my Mini Cooper there, and drive the sedan with both my boys. This will also make a better vehicle for road trips and such.
It will also open the door for me to get a two seater. I cannot have a two seater now because I need something that will hold both of my sons. However, if I have a four door sedan as a backup car I can get a two seater for most of the time... and when I only have one of my boys with me.
I could see trading in my Mini Cooper S on a Miata or some other sports car. In fact that will be the subject of a future column. I will start thinking about the two seaters I like and see how I could afford them.
To afford them means I need to keep the car payments under $300 a month. I will have to factor in the trade-in value of my Mini Cooper, the balance I owe and the cost of another car. This will dictate a price range. With that price range set I can start building a list of cars.
Yes sir.. this is the idea for another article. But first... I need to save for that reliable, inexpensive four door sedan.