Wednesday, August 26, 2009

Evil, evil check engine light


I have not taken the car out in almost six weeks. However, after I burned my hand I had to go to the burn clinic for my final appointment. I felt perfectly fine--easily well enough to ride my bike. But I could not for the life of me remember if I had seen bike racks near University hospital. Then I was running late and decided that for this one last trip I would take the car (insert rationalization here). I filled her up with gas and headed off to campus. It was hectic on campus, cars everywhere, hot, and parking took forever. I waited 30 minutes to be seen at the clinic, received a clean bill of health and then headed to the office. Then it happened. The check engine light came on. No no nooooooooooo.

I parked at work, went to my meetings, etc and when I drove home it did not come on again for a bit, then it did, then it went off again. I thought, "Make up your mind!". I googled "check engine" light and my car make and model when I got home and it could mean several things. However, I don't want to spend a gazillion dollars on a 16 year old car!

I bought my car in 2001 for cash (used)--she is a 1993 Honda Civic and has run like a top, perfect for grad school. I saved a ton o' cash in gas but not really overall when you do the math as Chris Balish urges. I remember adding up the money I had spent on the original purchase cost, taxes, parking, gas, insurance, repairs, car washes, etc and realizing that over the course of five years I had spent almost $10,000 on a used car. (I can't imagine the cost for a new one with monthly payments and more expensive insurance premiums.) The irony was that I needed right at $10,000 for my final year of grad school and of course, did not have more than about $3000 saved. While I graduated without student loans or other debt, I had spent a chunk of change on a major depreciating asset and when I needed money for my final year, there was little to be found. Ultimately I won a dissertation writing award and was funded for my final year, but it was a real eye opener to realize that had I saved that money in an interest bearing account, at even 4-5%, I would have had plenty of money for school and some for my first year out of school. It was weird to think of so much money thrown away on a depreciating asset. Money I can think of about a million better things to do something with!

I have been toying with the idea of going completely car free and this may be the catalyst that is my tipping point. Living in Columbia, and learning how to get things done by bike, has made me think car free is easily possible here. However, I wanted to get through one winter without a car before letting go of the Honda. The good news though is that I can do everything I need by bike and bike trailer, so if the Honda has to sit there for awhile, no problem. If I can meet the challenges of this winter, I think I'll be having one heck of a yard sale in spring (I lost 3500 lbs in one day--ask me how!).

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