Monday, April 25, 2016
How Your Automobile Can Serve as a Vehicle for Debt Relief
I'm celebrating the 200,000 mile mark on my odometer today and it's the second time I've reached this milestone. Keeping my paid-off family vehicles on the road is an important part of my plan to live debt free. The two mechanics responsible for this are Tony "Zoom Truggy" Montegna of Ramona, California, my hometown for twenty-two years, and Adam of ADA Auto Sales and Service of Williamsburg, my new hood. Tony replaced the tranny in my '96 Honda with a rebuilt one just before I departed California four years ago and he told me there was a chance the rebuilt unit might not last. That was 70,000 miles ago and the Honda is still going strong. Adam changes the oil in my car every 5,000 miles and that's about it for maintenance. Family car #3 was originally purchased new as a business vehicle in 2005 when we launched our Zoom Autos Magazine business. Ford Motors was willing to take a chance on us financing our first five fleet vehicles but we needed six. I volunteered to purchase my Ford Focus using personal funds. Our beloved "Zoom Car" will reach 200,000 miles within the next twelve months. It's a great relief to not have car payments and this goes a long way on the road to financial independence.
I would like to thank my sister and brother-in-law who engineered the car trade that helped two families. We were searching for a reliable used car for our daughter who was headed to college and my nephew was interested in improving his tennis game. We were a good match since we both happen to be left-handed. Adam continued progressing with the help of the amazing Faila tennis family and we transplanted our Honda to Iowa. I was shocked the day our car started at -34º wind chill factor.
If you're searching for a vehicle that can bring you debt relief, look no further than your garage. It's not necessary to keep buying a new car every few years. Instead, find a reliable mechanic and keep your oldie but goodie on the road. Once you pay your car off, keep putting your allotted payments into a savings account and pay cash for your next used vehicle when it comes time to retire your family driver. Have a great day.