I have a problem. I’ve spent way too much money on cars. When I first started my adventure into living a more minimalist lifestyle I knew this would probably be a big hurdle for me. I’m an engineer, and I like getting my hands dirty working on cars on the side. I don’t want to give this up entirely, but I’ve taken some steps to make sure that I’m living the most efficient, simplest life I can without completely eliminating my cathartic hobby.
First, some background:
My first car was perfect. It was old when I got it, no AC, no power anything, a very basic car. Then I decided I’d buy a motorcycle. I had always wanted one, and I was 21 at the time, so I bought a 250cc sport bike that was cheap for a motorcycle. I crashed it (through no fault of my own) and used the insurance money to pay off some of my student loans (great idea!) and to buy myself a bright red sports car (horrible idea!). I was a college student with two cars. And a speeding ticket. How did this make any sense?
I crashed the sports car. That one WAS my fault. I was out about $2000 from that, and ended up getting a truck. Still had that old car, though, but I towed it to my first real job in Tennessee with the new (well, new to me) truck. My commute in Tennessee was 45 minutes, one way. Mistake. Then I decided I’d buy another sports car, and also keep both my truck and my old car. I got bored of the sports car and sold it, at a loss of about $2500. Later on I found a motorcycle on craigslist for $700 that I thought would be a fun project, but right after I bought it I moved to Florida and sold it and about broke even.
When I got to Florida I sold my old car for $500 to a mechanic. I was sad to see it go but I was realizing that it was time to let it go gracefully. The mechanic took great care of it and I like to imagine it’s still on the road. But then I got dumber and decided to buy ANOTHER sports car. I got bored of that one and sold it for a loss of about $3000. By that time I just had my truck, which after spending a bunch of money on upgrades over the years was boasting a respectable 16 mpg.
At about this time I started thinking about what the perfect vehicle would be. I used to work on old Volkswagens with some of my friends, and they are truly great cars (more later). So I found a ’72 Beetle on craigslist for pretty cheap and bought it, and it’s probably the best car I’ve ever owned.
But the Beetle isn’t the greatest daily driver for me (I drive about 50 miles a day to get to my office which is in the middle of nowhere), so I bought a motorcycle. This is also a great vehicle, it gets about 50 mpg and I got it used at a great price. If I can take care of some of the underlying issues with the Beetle (water leaks, etc) then it might be a pretty respectable daily driver, and I could sell my motorcycle.
But I still have that truck. It just doesn’t fit my life anymore. Not to mention the fact that when I bought my house, it came with an antique motorcycle, and now I have four vehicles. None of us is perfect, but this is clearly not minimalist!
I was justifying keeping the truck because of all the home repairs I had been doing lately, but justifications only last for so long before you realize that you’re just fooling yourself. My truck is now up on craigslist, and I plan on using the money I get from it to buy an index fund (more on that later). I’ve probably spent $12,000 on the truck, including oil changes and repairs (and adding a huge steel bumper and winch which I’ve never really used), and in the end I’ll probably only get about $3,000 for it. It used to be fun to take offroading in the mountains in South Carolina and Tennessee, but there aren’t mountainous trails like that around here in South Florida.
I’ve owned it for six years though, and $1500/year isn’t too bad for all the adventure I’ve had in it… until you consider that I’ve put about 100,000 miles on a vehicle that only gets 16 mpg. Then if you count the ~$8k I lost on other cars, I’d love to have all of that money back, but it’s sunk now. We can only move forward, so selling it is the right decision, even if I’m a little late to the game.
I’m trying to balance the enjoyment I get from working on cars and motorcycles with my minimalist lifestyle. I’m going to keep the Beetle; it’s quite possibly the most perfect car ever made. It’s a very simple car, and I was also inspired by another blog post about turning a small car into a big one, so I’m going to make it work for me.
I’m going to keep the motorcycle too, unless my job moves to a closer location. I’d like to live closer to work, but it’s physically impossible to live any closer than about 20 miles from this office. Since I drive about 250 miles a week, it makes sense to have a simple vehicle for commuiting that gets 50+ mpg. (Filling up costs me about $7. It’s awesome!)
And, about the antique motorcycle: It came with the house, so I didn’t spend any money on it. It has a surfboard rack, so I can get to the beach (which has notoriously difficult parking for cars) and park in subtle places very easily. In Florida, you don’t necessisarily have to have insurance on motorcycles, so the motorcycle is free for me to operate (except about $15/year for classic motorcycle registration). I’m guessing it gets a respectable 30 mpg too, but I can’t tell right now because the speedometer (and trip counter) don’t work. I can sell it for probably $1500, so why not? I like working on motorcycles too!
So that’s my plan. Selling the truck will save me over $1000 a year, and that’s money I can put into my house or to paying down my student loan. I have two other simple vehicles that I have fun working on, that work for the lifestyle I have, and that are crazy cheap to own and operate. I think I’m doing better! And I also have to remind myself not to fall for the sunk cost fallacy, and also that it’s not too late to stop wasting money on vehicles. I just hope no potential buyers are reading this blog.
Photo: My 1972 Volkswagen Super Beetle, using the surf rack to carry a ladder. My truck had been in the shop for four months, and this was taken during that time.