This post is from contributor, Stacey Lane.
At various points in our financial journey we have needed to drive a clunker. What is a clunker? A car that has over 150,000 miles, that at any moment could need thousands of dollars for repairs, and generally looks old and broken.
Currently I have a 1999 Honda and my son drives a 1992 Buick. We have our hands full keeping these cars running. Over the years, we have driven various other clunkers with the hope of saving money.
Here are 5 things we’ve learned about buying a clunker:
- Mechanical Knowledge. It is a great benefit to have knowledge of how a car runs, especially when taking a clunker for a test drive. Does the steering seem loose or pull to one side? Do the tires need to be replaced? Can you hear loud noises coming from underneath? All these can be signs of major repairs. If you do not have vast knowledge of automobiles, then form a great relationship with a mechanic. I have been blessed to have the same mechanic for 19 years. He has always stood by his work, taken payments for large repairs, and shared wisdom on when it is time to junk a car or repair it.
- Tracking Repairs. It is very important to keep track of money spent on car repairs, mainly to be able to form an opinion on when repair costs exceed the cost to buy another newer car. Do not forget to tack on your time for repairs and time the car will need to be at a mechanic. This leads into my next point on having a back-up plan.
- Back-up plan. Since driving a clunker puts you at a greater risk for break-downs, you need a back-up plan. What if the car break downs on the way to work? Maybe having AAA for towing would be worth the membership price. Do you have a friend who could lend you a car or a ride somewhere occasionally? Maybe you have access to public transportation.
- Car hacks. Generally, clunkers have things broken that are not worth getting fixed. My car does not have any dashboard lights. I keep a small keychain flashlight in my cup holder so I can see how fast I am driving at night. I have duct-taped the front bumper to keep the plastic from tearing more. Once, I even used thumbtacks to keep the liner attached to the roof of the car.
- Staying close to home. Clunkers generally lack the comfort for long road trips. Not to mention, breaking down hours from home can get costly. Be aware that trips close to home are best for driving a clunker. Of course that does not mean you can’t drive hours from home, but you will need a back-up plan. My last trip, hours from home, resulted in being stuck in 4 lanes of rush hour traffic and overheating. I ended up with warped heads, a very costly repair.
Driving an older car can save you money, especially if you take a few of these things into consideration and know what you’re getting into.
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