Just wanted to share my experience with "life happens" + cars.
Two years ago dh and I were saving for a minivan. We had baby #2 on the way and wanted to upgrade his Geo (tin can on wheels) to an Odyssey and keep my Accord. Both cars were already paid off.
We had 6k saved for the new car when a hurricane hit and a tree fell totalling both our cars. (we lost 16 trees with that hurricane). We ended up using the insurance money from both cars (yay for comprehensive insurance) and the 6k we had saved and put half down on the minivan and paid cash on a smaller pos 8 year old car to replace my accord and paid that one in full. Thankfully, the pos car turned out to be in pretty good shape. It's ugly but it runs well.. `
I had also wanted to keep my accord until it died. It probably had another 10 years of life left in it too.
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