Chrysler LeBaron Transmission Problems: Still a Bargain

My 1989 Chrysler LeBaron Turbo, a hand-me-down from my late grandfather by way of my mother, is having a serious transmission problem. This morning, my Chrysler LeBaron would not accelerate past 45 miles per hour, and it was making a loud whining sound whenever I was accelerating.

You might wonder why I am still driving the LeBaron when such a problem could very easily turn into a serious money drain. Well, I am partly very attached to the LeBaron because it was my grandfather's car. (I was with him when he bought the LeBaron. He paid it off with a check outright without financing. Smart man.) And partly I am convinced that a car payment is a gigantic waste of disposable income.

It is true that it will likely cost me a pretty penny to get the Chrysler LeBaron's transmission fixed (i.e., rebuilt or replaced). But when I think of all the money I could be spending every month for the payment on a newer car, I am actually rather glad that I can fix the problem by throwing a few hundred dollars at the LeBaron instead of having a hefty monthly payment.

Keeping up with the Joneses, by trying to have a slick and shiny new car, can be a disaster for your discretionary income, which means less to save and invest and less wealth when you retire.

I have a sneaking suspicion that when my grandfather's old LeBaron finally gives up the ghost, I will trot myself down to the used car lot and pick up another low-mileage old car that will get me there without sucking me dry and without leaving me with nothing to contribute to my retirement accounts.

So tomorrow I will proudly stride into the AAMCO transmission shop (after a conservative 25 MPH drive!) to get the LeBaron's transmission fixed. The LeBaron will probably elicit stares from younger, hipper customers, with newer cars and better paint. But I will hold my head high, secure that my grandfather's old LeBaron will be driving me all the way to the bank for years to come.