no more expensive car fallacies!

[chhotii]

Fallacy #1: Probate will take 1,000,000 years. Probably not actually true, although it feels that way. In actuality: I will probably wake up some morning about 6 weeks from now and find that I've received the happy news from the lawyer that I'm the PR of Rich's estate. Then I will probably either buy Rich's car from the estate (since I will have the power to make the decision to sell it to myself), or turn some of Sophia's inheritance into a nice new clean safe car to drive her around in.

Fallacy #2: I can't live without a car. Actually, my life (home, work, Sophia's school, and after-school program) is mostly all on the same bus route. I have a T pass and a ZipCar membership, and the knowledge of where to find the commuter rail schedules and where the Partner free shuttle busses go. My mother has an under-utilized car that she's intermittently willing to loan me, and my lover has a motorcycle and a spare helmet. (Although given how inconveniently far away my mother's place is by public transit, and my terror of the motorcycle, those last two things should not be major parts of my transportation solution.)

Believing these two fallacies, I okayed ABJ replacing the rear struts and mounts, and replacing some rusted-out turbo-diesel tube. Here was my thinking: They said that one of the rear struts might, worst case, fail in 2 weeks; I can't drive Rich's car for another 6 weeks. Two is less than 6, so therefore, I NEEEEEEED the struts fixed; and so go ahead and do the thing that's leaking too. Now, thinking that over, d'oh, that was dumb. I could've rented a whole lot of ZipCar in the 4 week gap for what that's costing me.

Tomorrow ABJ is going to call me and be like "you've got to fix this electrical thing!!! You just had us do the struts, so you're going to keep driving this car, right, so how can you not fix this electrical thing? You can't drive this car without fixing this electrical thing!!!"

Name that fallacy, people: that's the sunk cost fallacy.

No more money into this car. Nope, no way.

Comments

[achinhibitor.livejournal.com]

Cars have a substantial repair expense unless they're very new. OTOH, major repairs on a car improve its resale value, so fixing the struts will probably partially pay for itself.

I'm the PR of Rich's estate

I was just reading in The Executor's Guide: Settling a Loved One's Estate or Trust by the Nolo Press that an executor should never sell estate property to him/herself, or at least not without a lawyer's guidance. There's the problem that the other heirs can challenge whether the price was fair. OTOH, if it's certain that you're going to inherit it, as executor you can distribute it to yourself.

[weegoddess.livejournal.com]

I wish I had more than support and hugs to offer, but they are yours.

[drwex]

Yeah, that sunk costs thing is a big deal, and hard to manage. Cars particularly, we have these attachments to and images of. I hope you find a solution that works for you guys.