Ode to My 2009 Honda Accord
Everyone has a different perspective on the price of transportation
I know the market is jittery and the world feels like it’s on fire. But I can’t quite seem to write anything about why you should stay the course, stick to your plan, or avoid panicking. You should do all three. Perhaps I’ve lived through too many market selloffs by now. Besides, there is plenty of market commentary for the anxious reader to feast on. Instead, I hope you’ll enjoy a little brevity with my goodbye post to my 2009 Honda Accord.
I spent this morning cleaning out and cleaning up my 2009 Honda Accord. After 15 years, I will pass her on to a new owner later this week. I honestly thought this day would never come, and that I would drive her until the end. But the choice of inheriting my brother’s Toyota 4Runner was too emotional to pass on. Luckily, she’s not going far. I hope she will be as wonderful to the friend who is purchasing her as she was to me.
When I moved to New Orleans in early 2011, I needed a car for the first time in many years. I had relocated from New York City, one of the few cities in America with a real public transit system. I had no income. I was living on my meager retirement savings while I attempted to start an advisory firm from scratch. I used some of my precious savings for a down payment and borrowed the rest through a six-year auto loan. The monthly payment was under $200. It was all I could afford. I paid that loan off early, by the way.
The Honda was two years old when I bought her, with 42,000 miles on the odometer. I’ve since put slightly more than 100,000 additional miles. I thought I’d drive her to 200,000. We never went far. She was mostly a city car, shuttling me less than 3 miles a day between work and, eventually, my children’s daycares and schools. My husband’s SUV became the family's road-trip car, with its third bench and room for the dogs. I joke that I can’t remember the price of gas the last time I filled her up because a tank lasts me more than a month.
She’s been my car through many of life’s greatest milestones. I went from single to married with her. I rose from being a starving solopreneur to CIO of a local advisory firm to shareholder at Ritholtz with her. When my son was born, I plugged a car seat in the back. Three years later, I added a second car seat when my daughter was born. My son has since graduated from a car seat to a booster, and now he doesn’t need either. I told him the Honda might be his first car when he starts driving, an idea that made his face beam.
I admit there have been times over the years when I was nervous about arriving in the Honda. She’s a car that doesn’t match the social expectations of what kind of car I should drive. My colleague Alan told me he was a little surprised to learn I drove such an old, non-luxury vehicle. My parents were always suggesting I purchase the cars of other family members who were upgrading. Each time, I politely declined.
The Honda has been the most reliable car I’ve ever owned. She never needed more than regular oil changes, a new battery, or a new set of tires every 40,000 miles. Even the time she flashed the check engine light late one evening when I was returning home from a post-Jazz Fest concert, the repair was less than $500.
I am not a car person. For me, a car is simply a machine to take me from one place to another. I prefer to spend more in practically every other category of my budget; my house, good food, travel, and experiences. When I hear that the average car payment has surpassed $1,000 a month, I can’t imagine that being a normal part of my life. That’s not to say I don’t understand those who do love cars. But I have many other things I want to spend money on first.
I am reminded of the time my friend and fellow financial advisor, Jude Boudreaux, spoke to the New York Times about his decision to live in a condo to spend more on other areas of his life. Being intentional about spending makes budgeting easy. In order to do that, you have to break the cycle of going along with the crowd. Ask yourself, do I need to …… (enter your choice here)?
Drive a new or luxury vehicle?
Live in this house / this neighborhood / this high-cost area?
Color my hair / get regular manicures / use Botox / have cosmetic surgery?
Visit this expensive resort?
Own versus rent?
Choose this brand of clothing / shoes / handbag?
It’s an interesting exercise, and one we often forget as we go through the motions of life. We tend to follow the lead of those around us. But it’s worth asking, what type of spending brings you the most joy? Money is a tool. It can buy us money things, but for most of us, it is not an infinite resource.
The Honda has zero bells and whistles that have become common in modern cars. She does not connect to Bluetooth, but she has a single CD player. She doesn’t have a camera on the back, which means I still know how to parallel park unassisted. She has no alarm to warn me that another vehicle is passing on my left or sitting in my blind spot. I still have to turn my head around. My children have learned to live with whatever song is on the radio and that commercial breaks exist. I am grateful to have lived in this time machine for the past 15 years.
Don’t worry, I haven’t changed my stripes. You can find me, hopefully, driving a 2024 Toyota 4Runner for the next 100,000 miles.