On the Road to Financial Independence I Traded My Muscle Car in on a Corolla

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I drove a muscle car for a long time because it fed my ego. I liked how people turned to watch as I drove by. I liked people (usually dudes) commenting on it when I was fueling up. I liked feeling powerful stomping on that pedal. So you would think I would regret a decision like this one.

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I didn’t wake up Wednesday morning and think to myself, “Hey, Dave ol’ buddy ol’ pal, you know that hot and totally rad Dodge Challenger you’ve got sitting in your driveway? You know the one with the 392 Hemi and that awesome shaker hood with the blower? Yeah that’s the one! Whadda’ ya’ say we trade that sucker in on the most practical daily driver we can possibly fine. Something like say… A USED TOYOTA COROLLA!”

And yet that’s exactly what I did.

I wouldn’t say it was a total spur of the moment decision. I’ve been knee-deep in financial independence books, blogs and Facebook groups, so I had slowly been coming around to the idea of buying something more practical for what is essentially a shuttle for me to and from work.

Yet when I arrived at work Wednesday of this week, I had no clue that by day’s end I would have traded the face-melting monster machine in on the face-massaging safety wagon.

We are in the midst of refinancing our house, because we could use the extra bit of change it will provide each month. (Don’t bother debating on whether or not that’s a sound decision. It’s already done, short of signing in two weeks.)

Our home loan agent called with closing costs, and I freaked out because they were more than we were originally quoted. Things escalated quickly, and before I knew it, I was chatting with an agent at a reputable Toyota dealer here in my neck of the woods about trading my car in.

I had just reached my breaking point in terms of being stressed about my finances constantly, and yet driving around in a car that costs me $40-$60 bucks a week in gas alone. Plus I didn’t¬†actually¬†go anywhere with it. 99% of my car’s use is driving me to and from work. That’s it. On weekends we mostly drive my wife’s vehicle. So why did I need a gas-guzzling, high insurance, high payment vehicle to do that?

Turns out I didn’t!Read More »