July 18, 2005

Buying a New Car

My first car was a second-hand. My father subsidized my down payment and I paid the monthly installments. Years later I thought of buying a new car. I kept a record of my daily expenditure for three months, recording every cent spent. Then I did the estimations – installments, parking, insurance, road taxes, servicing and repairs, petrol. I found I could afford it. Another three months later I booked the new car.

The car serves me faithfully. No breakdowns, no problems, all within my budget.

Now every friend tells me this is a good time to get a new car.

Nowadays, whenever I want to buy an expensive item I will think, rethink, wait and rethink again. Do I really need it or want it?

Of course ‘expensive’ is relative to one’s income and assets.

Not long ago, there were offers at a superstore. I wanted to buy an electric rice cooker which can also cook porridge. I already have one at home. It cooks rice but could not keep the rice warm. The new cooker was not expensive. I bought it.