September 21, 2011

Unexpected Purchase

I know it's been a week or so since I last posted, but I had a WWII reenactment and military vehicle convoy in Gettysburg, PA.  There were some good aspects (the convoy and battle in New Oxford, PA) and some bad (rain, mud, and a lack of communication which resulted in me leaving early).

On my way home, my sinuses decided they had had enough and filled up.  I've been dealing with that, and now think I have a sinus infection.  Yay me!

On more good news front, and a credit score update, my Equifax score is now 752 and my Transunion is 776! John's Equifax is 700 and his Transunion is 706! Although, those are going to change, which I will explain here soon.

In a previous post, I mentioned how J and I would be purchasing a home and eventually a WWII jeep once we had cash available, which wouldn't be until the new year.
Well, back in July I had emailed someone who was selling a WWII jeep in our area.  At the time, the person selling it decided they didn't want to sell it.  This was fine, I don't blame them for not wanting to sell it!  Then, last week I got an email from the family saying that they now indeed had to sell it and was I still interested.  Dilemma!!!!  Yes, I was still interested, but we don't have the cash on hand to buy it.  We will though and it is something we were budgeting for in the future.  So after going back and forth, and actually going to look at it, we decided to get a loan from NFCU and pay it off in 3-4 months. 

Reasons for doing it.  Jeeps in the condition this is in are not easily come by.  Jeeps in my area on the East coast in this condition, even harder to come by (and usually NOT for sale) and the price, while it is expensive, is more than a fair deal for a WWII antique in working condition! Most jeeps are located on the west coast and shipping is EXPENSIVE.  In fact, this jeep came originally from San Diego where the current owner shipped it from, and is definitely not making any money on this sale.

So, we now have another loan, but as I stated, this will be paid off in the next few months. On a positive note, I did qualify for the lowest interest rate!  So I will update a new sidebar for the jeep which is $12,000.  I will also post pictures once I take possession

We are still CC debt free, which was the originally intention of this adventure :)


Anonymous said...

some people never learn.

Krystin said...

Thank you anonymous for your insight, but what part of 'this was budgeted for' and is a planned purchase anyway did you not read. My husband is staying in Afghanistan for another 5 months so that we can pay for this whether it is to pay off the loan or to pay in cash.

If you have read this blog you will have seen that we have paid off more than $28,000 in debt off in 4 months. So I don't think this will be an issue. Believe me, if he wasn't over there this would not have been purchased!

But then again, why should I have to defend myself and my decision to someone who doesn't even have the guts to sign their name to their comments.

Niki said...

I hope anon didn't discourage you too much. You have done an amazing job this year. And this was something you were planning on purchasing anyway. It's not a new car and it's not like you can't afford it. And paying it off in 3-4 months is great. You would probably kick yourself for passing up this opportunity.

Can't wait to see pics.

Krystin said...

Niki I'm fine. This blog was never about being completely debt free. We are in a comfortable place where we can afford this even if we had to pay it off in the alloted time. I'm happy with my purchase. It has been a dream of mine for the longest time and it's also an investment. This will only increase in value.

I guess the biggest issue about anon's comment is that 'I haven't learned' after paying off the debt we had, but again, this was never about being debt free it was about being in a financially safe place, and we are.

Rafiki said...

You didn't even have to justify your purchase or your reasoning for getting a loan for it. I know from reading your blog you have a passion for the WWII reenactment and to own your own jeep would be a dream come true. You don't even have to say it.

I honestly believe this is one of the best purchases you and your husband would have made in your lifetime as you are both passionate about this. Heck I am smiling just thinking about how amazing this is for you both.

I think it was a great idea even if it means debt. I would have told you to forget the anon comment but you handled it well and you are definitely right. Being in financial control is my same goal. Go for it and don't let anyone even people you know stray you from your dreams.

This is awesome and congratulations

jpkittie said...

you are doing fantastic! I don't blame you - if it is something that you want, then by all means, do it - don't blame you at all!

Krystin said...

Thanks Niki, jpkittie and Rafiki! :)

Anonymous said...

I am new to your story but paying off $28,000 of debt in 4 months is FANTASTIC. Anonymous obviously didn't learn if you have nothing nice to say ...