Financial Clarity Coaching Blog,  Our FIRE Movement & Debt Free Goals

Smoking Diesel and Screaming Out Freedom

“Yeah, we love smoking that diesel, It screams out freedom like a big bald eagle”…

I’ll admit something, I love this truck. Not because it’s a material thing, not because of the manufacturer, and not because of the story behind how we came to buy it (some of you know the story), but for the places it’s taken us and how it safely brought us home from the hospital over roads covered in sheets of ice and snow with baby Eleanor in tow.

Something you should know about us…

We love cars. But we don’t love what they cost. When we do decide to spend money on a vehicle, we typically keep them for a decade or more. Age and high mileage doesn’t deter us, especially if we are fortunate to buy a one-owner that took great care of it. We’ve had Meredith’s 2008 since 2010 with zero intentions of selling it. Prior to owning our F-350 for RV Life, I owned and drove a 2002 Wrangler & a 1996 Ranger. Both owned for over a decade. Not only was it sad to watch the Jeep drive away with its new owner, it was equally sad to take on a new loan payment for the diesel truck. Especially considering we haven’t made a car payment in over 7 years.

But that car loan payment only lasted 1 year…

We financed the truck for 5 years, but fortunately paid it off 4 years early. Saving us thousands of dollars in interest payments and putting that money to work elsewhere. We knew early on that financing it was our only option, but staying committed to our RV Geoarbitrage FI/RE goals allowed us to take every extra penny to immediately pay it off. With the title now in hand and the freedom to hit the road for new experiences, this truck will likely be with us for many years.

How long do you keep your cars?

#howtowinwithmoney

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