The best worst day

[MannyG20]

Let it go. I am 56 to and have had to let things go that I wanted. Don’t even think about them at all. Peace of mind is worth more than a car.

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[mpeugeot]

That sucks but you are wise to not buy something that your can’t afford right now. Many people spend way beyond their means on cars and other toys. I’m 57 and my wife has had a handful of new cars since we got married in 1994 but my Bronco is my first new vehicle. I was always focused on saving 15%-20% of my salary and because of that and a bit of luck picking stocks, I retired at age 53 and can afford the toys after decades living without.

Now, while you absolutely did it correctly, and I applaud your discipline... I did EVERYTHING, and I mean EVERYTHING wrong. I didn't save hardly anything, and yet, somehow I will be retiring at 56. Sure, you beat me by 3 years, but I am also in position to afford toys and not worry about ever having to work again.

The point is that you could plan, save, and be responsible or not save, not plan, and be somewhat irresponsible and come out ok on the other side.

OP: You have to do what is best for you. If you are price protected, have solid employment, good skills, and enough money to make it work - you should consider going for it. I would rather enjoy my younger years fully because you may or may not have tomorrow.

 

[MnLakeBum]

Now, while you absolutely did it correctly, and I applaud your discipline... I did EVERYTHING, and I mean EVERYTHING wrong. I didn't save hardly anything, and yet, somehow I will be retiring at 56. Sure, you beat me by 3 years, but I am also in position to afford toys and not worry about ever having to work again.

The point is that you could plan, save, and be responsible or not save, not plan, and be somewhat irresponsible and come out ok on the other side.

You have to do what is best for you. If you are price protected, have solid employment, good skills, and enough money to make it work - you should consider going for it. I would rather enjoy my younger years fully because you may or may not have tomorrow.

Congrats on the early retirement, it’s everything you thought it would be. I certainly made a lot of mistakes along the way, just not as many fiscal ones as our friends and family. Luck certainly played a role with my wife being in the right place at the right time landing a job at Apple in 2000 and having an 17 year career there during what was a tremendous period of growth.

You’re spot on that you never know when your time is up and my wife and I have enjoyed the ride. We had a lot of nice vacations that we afforded because we spent less on vehicles and toys than any of our friends or neighbors. When we were in CA, we had a cleaning lady that drove a 3 year old Lexus while my wife drove a Buick Enclave and I had a company owned minivan, lol.

I still haven’t shaken all my frugal habits but in the last 12 months I’ve bought two snowmobiles, a 3rd boat, and a Bronco. Most would call that not very smart(especially owning 3 power boats) but it’s fun to finally enjoy some toys. We worked hard to get here and I’m not leaving it all for my kids.

 

[BeauTheBronco22]

Wow thanks for the kind words. Was not expecting that. I have two sump pumps but the leaking still came it. They couldn’t keep up. Getting bigger pumps and will fix but it’s costly. Insurance doesn’t cover ground water. Very frustrating. To upgrade pumps and repair everything it eats my large down payment up. I could do it without anything down and still do it but that would eat up a lot of the money for other things which I don’t know if I want to put myself in that situation. I’m leaning towards just walking away. Just so hard after driving it around a bit and waiting so long for it.

I'm sorry this happened at a bad time for you. Such a let down. Hoping the right time comes around for you soon! Life is nuts, seems like it's always something!

 

[BeauTheBronco22]

Sorry to read this.
Garth Brooks… Thank God for Unanswered Prayers. Imagine you getting the Bronco and then you had the flood. At least now, you have an option to steer clear. Bronco will be around later.

This song will always be one of my life's matras. It's so true.

 

[cbrenthus]

Didn't read the whole thread so might have been mentioned, and probably a bad idea, but there are payment saver loans out there. Basically a balloon payment loan for up to 72 moths. Think of it like a lease but you take the risk and reward on the residual value. If you think you can save up the down payment again in the next year or 2, get one of those loans and then refi with a conventional loan when you have the down payment.

 

[JPNC]

Buy it. Sell it to a dealer for a profit. Pay for house damage. Use remaining profit towards another bronco.

 

[the poacher]

Great idea until you get T-Boned at an intersection and it takes 6 months to get parts while you're making payments.

OP, sorry for your issues but it's not worth overextending yourself for material things. Pay for the basement and move on, they make new cars every day. You'll sleep much better without the stress.

Don't step outside, you may be hit by a car, bus, lightning, baseball, whatever. Life is too short to worry like you do...

 

[Spartan]

Or you could buy it and then sell it to someone on here who wants the a similar build or even that build?

 

[Roger123]

Don't step outside, you may be hit by a car, bus, lightning, baseball, whatever. Life is too short to worry like you do...

It's all about risk management and knowing when to stop digging the hole. Control the things you can, don't worry about the things you can't.

 

[vzqhsg]

Unnecessary reply

BUT True!!

 

[vzqhsg]

It was one thing to have debt when interest rates were at all time lows influenced by a ridiculous government policy. Much different when interest rates are similar to today. Go back to the early 80’s. This doesn’t just flip back overnight.

Again, Rick shows why folks live paycheck to paycheck. Been debt free for almost 30 years. Pay cash for everything. Instead of paying a lending company I pay myself.

 

[indio22]

After waiting 3 years for my badlands sas. with lux, and reordering 3 times and thinking I was never going to see it but finally made it through with a 2023 model. The day before it arrives the basement floods and now I have to spend the bronco money on repairs. Financial it no longer makes sense. Dealer gave me to Tuesday to decide and has been absolutely great but I don’t know what to do. I’ve waiting so long to not do it but don’t want to be in any financial trouble. Getting it for a great price but still not a great situation. Anyways. Just screaming into the void. Take a look. She is beautiful don’t you think?

That bites. Badlands Sas Lux 4-door hardtop is probably one of the more expensive Bronco versions out there? So yeah, you're probably talking about a lot of cash. Maybe in a year or two, you can buy a much less expensive version, or possibly used? (The top and doors come off the base same as every other Bronco version.)

I probably had more fun with my old $1400 CJ-5 than any other vehicle I've owned. That taught me spending a lot of money on something, does not necessarily equate to max fun.

Everything you own, in some way owns you. Hope you find a way to still get this Bronco, without it becoming an albatross around your neck by owning you.

 

[lemonslush]

speak with your insurance before deciding. Water damage is typically covered.

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