Beverages and Cars and BF, Oh My!
November 30, 2010 5 Comments
1. My car is fixed. I got my car fixed on Sunday. It is so wonderful to have it running. The grand total with tax and everything came to $502. Because I have a Firestone card, I get a 5% discount on services (the 5% is already included). Also, I can pay it off in 6 months interest free.
I have the Firestone card for the discount ($10 off oil changes, 5% off everything else). I usually pay it off immediately after making a purchase, but since this $500 is a pretty significant, I may take 5 months to pay it off instead. I’ll lump my E-fund (now around $400) on to the car and then pay $25/month after that until it gets paid off. That way I can slowly build the E-fund back up and pay down the car repairs with not too much issue.
2. The BF’s car is dead. The engine on his car finally died (a 1994 Tercel, it lived a good life) and it will cost $2,400 to fix it. The car is worth around $300-500, so he’s looking at buying a “new to him” vehicle. I’ve been driving him to work for the past few days and picking him up. He has around $6,000 he can use as a down payment on a new car. However, he has no credit. None at all. So he’ll have some trouble getting a car loan.
His mom wants his dad (who lives in the area) to co-sign for him. But I doubt that he will. He may end up having to get a very terrible interest rate at a very sketchy car dealership in order to finance it himself. I told him to just go to the bank, see how much they’ll give him, and then he can go anywhere with that money. Even if they only approve him for $3-4,000 he’ll still be able to get a decent used car with that.
I’m so tempted to volunteer to co-sign for him (I’ve done this for other BFs in the past with no issue), but I know that we shouldn’t get so financially involved so soon. But at the same time, as we go forward in our relationship I also know that him having the lowest interest rate possible will be the best thing for us financially. He thanked me for having his best interest at heart when we went to a dealership last night. And of course my response was, “You’re welcome, but it also benefits me as well as we move forward in our relationship.”
Also, if I’m co-signing I can have some stipulation in how much he can spend and what type of car he can get. That said he does value my opinion and we’re both on the same page in terms of value/type of vehicle. However, he is thinking that $15-17,000 is a good price to pay. I’m thinking that $10-12,000 is much better. So if I were signing with him I could put my foot down a little more on the price.
I’ve mentioned quite a few times that he could use that $6,000 he has and buy a car without credit at all. He doesn’t appear to like that idea to much. I can’t blame him. I may be not wanting to buy a car for credit, but I can’t change the world’s opinions about it. And to be honest, I’m not sure at this point that I WOULDN’T finance a car if I need one TODAY. I have so much debt that it makes it near impossible to save! What a vicious cycle debt is….
3. Beverages. I mentioned before that I spend an obscene amount of money on beverages per month. As a way to slow that down I’ve decided that I only get to spend money for beverages on the weekends. During the week I get to drink hot tea (inexpensive) or water or iced tea. As a “show of support” BF has also stopped drinking beverages that contain high fructose corn syrup.
Okay, okay… I’ll fess up. BF stopped drinking those beverages when he got his teeth removed and has lost 5 pounds since doing it! I’m jealous, need to do it, and want to make it easier for HIM to keep it up. So I’m giving up the beverages (for now) during the week – but keeping the weekend because I don’t want to give up my delicious Rockstar just yet… (the sign of a true addict).
4. Christmas. Since BF and I are both spending money right now on transportation, we’ve mutually agreed to spend no more than $20 on each other for Christmas. When I brought up the proposition his response was just:
“All I care about is that I spend Christmas with you” (Awww…)
He then said that $20 wouldn’t be a big deal, we could do that. What a relief! Now I just need to get my other family members on board with this proposition and I’ll be set! (Too bad I really, really, really want to get my dad a Nook or a Kindle for Christmas…)