Where I live, using a bike to go at work could be easy, cheap, green, but isn’t an alternative means because there are no bicycle lanes, and even automated public transportation isn’t efficient in this place. The car is the only way to move from one place to another, yet.
When we talk about car, one key question that shouldn’t be ignored is how many car family for convenience we need to have.
Image credit: AntyDiluvian
We can think to choose to have two-car family for convenience or have one car, while you paying off debt. I can think to place the money in a place saving to have an emergency fund, and try use one car a few weeks until it’s paid off debt instead to buy another car and increase my debt.
If we want look at the question from this angle, let me make an example. In september 2006, when a traffic accident devastates my car unfortunately I didn’t have an emergency fund and i had serious problem with credit card debt.
From my insurance company I got $1900 for it. Car insurance policies usualy vary from country to country and from state to state. ( If you want to know more about car insurance there are several website that provides knowledge on this. Currently I’m reading maczoop which provides information related to car and car insurance claims.)
Instead than make the just choice and buy a used car, I asked $13,000 to purchase a brand new volkswagen, the car I’m still using today. In this way I increased my life in debt.
Have you had to make the choice between buying a car or paying off debt? My advice if you want buy another car and pay off your debt is that to buy a cheap used car. And your?
