|A nicer version of what my BF’s car looks like|
The only bad thing about this deal is that we are going to have to take a small car loan to help pay for it. I really don’t like taking out more debt but since its such a small amount, I think its for the best. I could have taken the whole amount from our savings but we just felt better with the peace of mind of taking out a smaller loan for it. We will now be paying 5.75% interest on a $2,000 loan for the next two years. We will obviously try to pay it off sooner as my car needs to be replaced soon as well. Right now the monthly payment works out to about $90 so it won’t be too burdensome on our budget.
I have to admit, I am feeling anxious on making such a big purchase but I know it was for the best. He needed a truck and his old piece of sh*t car was not going to cut it anymore. I did find out recently that we can file an extension on his taxes so we won’t have to pay close to $4,000 in taxes come April. This comes as huge relief as now we can wait till October and have a bigger amount of savings to pay for it. We may go ahead and pay at least $1000 or so in April to get the ball rolling but I am not going to sweat if we can’t.
My boyfriend’s boss has been dropping hints that he will be getting a raise soon so I am really hoping that goes through. Honestly, I am feeling a little tight on our budget and could use the extra breathing room. I am also looking to add life insurance and disability insurance for us soon and even though these things are necessary for us, they would continue to eat up more money. Here’s hoping for a good couple of weeks!