1995 Honda Civic EX

I bought a new car this week. Yes, another one. Now that I’m taking BART to work I’ve found that I’m driving my car maybe twice a week, mostly just to run errands locally. Why continue paying $300/month, plus insurance, for a car I never drive?

So I looked around a little and found a 1995 Civic EX for sale last weekend and picked it up for $4,000 cash. It’s only had two owners, has maintenance records going all the way back to 1995, and runs great. It could use a little minor body work, but I’ll probably get it painted later anyway, so that’s not important. What is important is that as soon as I sell my other car, I will once again be completely debt-free.

1995 Honda Civic EX

Selling my other car is going to be problematic though. Due to delays at the DMV, I still don’t have plates and registration for it. My next payment isn’t due until January 12. I would like to sell it before then, but I may not be able to if I don’t get my stuff from the DMV soon. The other problem is that because I haven’t had the car very long, I still owe more than its blue book value. The disadvantage to buying from a dealer rather than a private party is that even if the original price of the car isn’t bad (admittedly, it could have been better), after taxes, licensing, etc, you sometimes end up paying a fair amount more than the car itself is worth (in terms of resale value). I’ve only made a couple payments so far and haven’t had time to knock the outstanding amount down significantly, so I may end up having to take a little bit of a loss when I sell it. That sucks now, but I’ll be saving a ton of money in the long term, so it doesn’t bother me as much as it otherwise might.

Comments

shadyl says:

Seeing that really makes me miss my old Civic. :( It was a ’94 EX 4 Door. I guess you had seen it when we both still lived out in the L.A. area. I would still like to kick the ass of the woman who totaled it.

But that looks and sounds like a good one. And it really does make a lot more sense than putting a bunch of money into a newer car that you aren’t driving. Which is the same reason why we haven’t looked for a 2nd car since I take the train, too. But if I do decide we need another one, I’m pretty sure I’ll be looking for a version of my old car. Best damn car ever.

Kenn Christ says:

Of course I remember your old car, the one with the Tux sticker on it :)

Best damn car ever.

Seriously, Hondas run forever. I don’t think there’s another car I would feel comfortable buying with 130,000 miles already on it, even for this price. That’s about what my Accord had when I sold it to you, wasn’t it? The car I was driving before that was a 1990 Prelude that was still running at 200,000 miles. I still had enough faith in that car that I was willing to sell it to a friend after I got the Accord.