Hammer Time: My First (Auction) Car
10 years, 6 months, and 1 lifetime ago, I bought my first car at auction. It was a base 1986 Honda Civic hatchback. One owner. 166k miles and power nothing. Not even close. It did have A/C and a radio (thank God!). But it was little more than basic A to B, which was fine because I was in school at the time. I bought it for $525 at a public auction, which came to $630 including taxes and auction fees. It was a beautiful buy at a point in my life when I literally needed to save every nickel in my pocket. So what did I end up doing?
I sold it on eBay of course . . . to another student . . . from the same school. Incredible! I pocketed about $950 which took care of gas and groceries until graduation. But I’ve always thought to myself, “What would have happened if I had kept it and sold my then 5 year old Camry?” An extra $9000 in my pocket. Minimal ownership cost for perhaps the next 10 years? I’ve crunched the numbers and my annual costs would have run right around $1000 per annum for the next 10 years. Ahhh . . . the simple life. I can’t say that I miss it.