Sometimes, dealing with friends can be frustrating

 

Part of the process of buying a new car includes disposing of the old car.  In my case, I have a targeted recipient for the new car - DCD.  He has a fair deal waiting for him as long as he doesn't blow it.  How often can someone get a well maintained car for under $2,500?  (What I'm not telling him is that if anything major goes wrong with the car, I'll forgive the remaining balance on the loan I'm floating for him. It's an effective $100/month car rent to own deal.)

Late last night, DCD started asking me for information on the car (VIN number, etc.) as if he was going to register and insure the car tomorrow.  This is frustrating.  It's not as if he is going to get the car on a fixed schedule - I have to get the same information from my new car's dealership so that my insurance agent can do his magic. And I don't expect that information for a week or two yet.

I figure that this is a small price to pay to get rid of an old car to get a new one in my driveway.  Yet, DCD adds a bit to my frustration because he is over eager to get this car in his driveway.  He is known for doing stupid things such as seeing the engine light come on due to overheating, and driving his car until the engine seized. Then, he had another car which got totaled, and he had to pay off the other driver to keep his mom's insurance from being dinged.  So, I have my doubts that he will be able to keep this car on the road for the 2 years I expect that this car could last if well maintained.

In reality, I'm treating this "sale" as if I am giving him my car.  I owed him a favor, and this is my way of returning it.  He's getting a car at a very affordable price, with a hidden, unspoken warranty that the car will last two years if properly maintained.  Hopefully, he will be able to keep this car on the road for the next two years.

I just put a deposit down for a new car!

 

The title of this entry says it all.  I have finally put money down on a new car.  Yay!  Now to figure out what to do with the old car.  With this being said, I know that I can always donate the car to a charity and get a tax deduction.  But I won't get more than a fraction of what the car is worth.

Although it's been over 40 years since I bought the apartment I live in, I'm still surprised that this car costs almost the same as my apartment did way back when.  (Of course, indexed for inflation, my car costs the same as an equivalent car of that era.)  Yet, I was a little nervous about this purchase, as I committed to writing what will likely be one of the largest checks that I will likely write in my life. 

I'm looking forward to driving this car.  But I will likely NOT be taking it to RQS's place that often, as owning a new car can be a liability in the outer boroughs of NYC.  A high mileage, older car is never going to be at risk for theft.  But a low mileage, new car becomes a great risk for theft of parts.  I was reminded of that when I signed the contract for the car, when I had to ink a clause declining to have a VIN number etched on my catalytic converter.  No one buying a "hot" converter cares about an etched unit, and they could easily obscure the etching if that reduces a criminal's chance of getting caught.

The deal I cut was unusual, as it was an all-cash deal without seller financing.  The sales manager wanted to offer me financing, and I declined for reasons I didn't give him.  (Specifically, I didn't want to unfreeze my credit report and potentially open myself up to identity fraud.) When the car is delivered, I expect that the sales manager will try to upsell me on things such as: Ceramic Ding Shield, Tire & Wheel Protection, and Key Security (insurance on the key fob, which may cost $500 to replace.)  Of these, I may buy the ding shield (after having some questions answered) and the key fob insurance (if it covers the loss of more than one key fob).  Most importantly, I have about a month to take care of things before the car reaches the dealership and I have to get a certified check for the balance. 

It's going to be a great change for me - and a welcome one.