We dropped one of our cars off at a friend’s place today who is going to replace the brakes on it. I’ve known for a while now that the rotors would need to be replaced and not just the pads since they couldn’t be machined anymore. So why am I bringing this up?

Typically people are not excited when it comes to car repairs because just another thing they need to do and it’s going to cost money. Now, while I don’t enjoy car repairs myself, I don’t really get all that upset over them either. One of the reasons for this is because we own both of our cars outright. General maintenance is something to be expected, and it’s easier to pay for when we’re not having to make monthly car payments.

It also helps that we have built up a decent cash reserve and don’t have to worry about some maintenance problem throwing our finances out of whack. Having an emergency fund definitely helps with a financial peace of mind.

I’m also not tempted to go cheap on purchasing the new parts that need to be replaced. We plan on owning our cars for the foreseeable future, and I’d rather purchase quality parts that will increase the lifespan of the car instead of just trying to get by with something that will work for now. I understand this is a matter of opinion, but this is how I see it.

So working towards actually having your cars paid off and being comfortable driving them for a while, even though they may not be the most stylish, is certainly a goal worth pursuing. It increases your monthly free cash flow and allows you to pursue other options with your money. If paying off your cars and maintaining them isn’t a goal of yours currently, you may want to consider making it one.

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