Continuing to fix car or replace
Good Morning APC,
My financial question comes in regards to my vehicle situation.
I have three cars. One newer Mazda with a small loan ~7k and a small monthly payment. The car is a stick and I'm the only one who drive it because my wife can't. It has been almost trouble free over the three years of ownership *knocks on wood."
Car two and three are my wife's. Both are older and made sense at the time but have recurring maintenance issues. I am fairly skilled at working on the cars and have managed 98% of all repairs myself with the maybe once per year outsourcing.
Recently a couple of major issues have come up with both of my wife's cars. One being a sensor on my Jeep that is on back-order from the dealer and now the car is dead in the water until it comes in.
Next is my Subaru...I have been fighting a head gasket issue since I bought it. I have literally done everything to this car. This is about an $1800 job. Early model Subaru's have terrible head gaskets.
SO....long story short. With my current upgrade, IE back to a crappy schedule, I am nervous about fulfilling my duties as car mechanic when I will be back on reserve elsewhere's (for now obviously).
Our cash on hand situation could support a newer car but as someone who follows Ramsey ideology pretty closely, I just won't do it. She wants a car note on a newer car. I am strictly opposed to having two car notes.
Any outside perspective on this issue? I wanted my Mazda to be the last car payment we ever have. We otherwise live a debt free lifestyle and want to keep it that way.