When we decided to build a tool to help people take control of their money with the idea that we could help teach people how to reduce their amount of debt spending and be better equipped to make sound financial decisions, we knew that we must live how we are trying to teach people to live. That is… live from an intentional budget plan, stop spending future income (incurring debt), and begin to reduce debt.
My personal goal is to take this all the way to a debt free lifestyle. Your goals maybe different, and that’s fine, but the tools and methods we use to reach our goals are the same. We need an effective budget (that we can follow) and learn how to make smart financial decisions. In my household, we have our budget plan working effectively thanks to BudgetSketch, but I need some advice on how to proceed with downsizing a particular debt, namely, my vehicle.
Some years ago (pre-enlightenment) I purchased a fairly new Mercury Mountaineer. Very nice vehicle, safe for the family, comfortable, but extremely expensive to own. The vehicle payment is high enough, but the yearly operating costs exceed what our budget can handle. So, in keeping with our contract with ourselves to pursue the goal of living debt free, we made a decision to sell this vehicle. We found a buyer and are ready to let it go… ah… feels good to get that liability off my balance sheet! 
However, I now have a new problem to solve.
I now need to replace our family car with another safe vehicle. Considering we are a family of 4, my wife and I decided that the next vehicle needs to be a minivan. Plenty of room, safe, and much less cost to operate. We decided we will pay cash for this next vehicle and have set a budget of $3500.
Here is where I need some help. In my past life, I never bought a vehicle that was over 2 years old. I was good at the debt creation game back then and never had to worry about “Will this vehicle be reliable?”. The cars I bought were always new or almost new and had warranties. I see today that I wasted a TON of money just to make sure the vehicle was newer with a warranty. Some big payments too I might add.
This time around we are spending no more than $3500 on a minivan, probably something built from 1999 to 2002. I found a few vehicles that fit the bill, but I am apprehensive about how to make sure I am buying a good vehicle that will last us at least 3 years. Most of these vehicles have 110,000 to 165,000 miles on them. How do I make sure I buy a good quality vehicle that won’t nickel and dime me at the repair shop? Keep in mind that I am not mechanically inclined enough to work on my own vehicles. I will certainly need help from a mechanic when things go wrong.
So… I need some advice from some folks that are good at this sort of thing. How do I make sure I am not buying a bunch of problems, what kind of minivan should I buy, and how to make it last.
Thanks for your help!!
