I got to thinking about this a couple of weeks ago: my former spouse (aka ex-wife) moved to Seoul, South Korea nine years ago. She will have been there a decade come September 2005. Considering the state of American-North Korean politics, her remaining there reflects an astounding bravery. Or bull-headedness.
We bought a small boxy Geo Metro in 1993 or '94. Since she had (on average) 3-4 part-time jobs, Mary did most of the driving. The old car we had been driving was becoming less and less reliable, so we decided to get a new car. The Metro was the only thing within the loan guidelines the Credit Union had given us; although it seemed to me like it had come with a Happy Meal, it still seemed like the best deal we could get. After a series of relatively unreliable cars, I felt new was the way to go.
Aside from the car loan, we had a healthy share of consumer debt, and we were just barely making it in the middle class life style. Often, Mary felt like she was running to stand still. Those three part-time jobs, and all that driving, was wearing her out. Plus, she was becoming hungry for a little adventure. One of her part-time jobs was with ESL (English as a Second Language); this is a subsidiary of a world-wide corporation. One of her co-workers had become head of a school in Seoul, and offered Mary a position. This one position would pay much more than the multiple part-time jobs, thus giving us an opportunity to pay off some of that debt.
After Mary had been in Korea for a little over a year, my work situation changed, and I eventually accepted a position in Oklahoma City. So, I started a daily commute of about 22 miles each way, driving in that charming little black Geo Metro. Happily, my work schedule was such that I missed rush hour, but I was racking up miles on the car.
When the car finally gave up the ghost in early 2000, there was still a balance due on the loan. By this point, Mary was no longer sending money home to help pay off consumer debt, so I was paying this loan along with that debt on a salary a few hundred dollars above the poverty level. Securing a new loan was going to be a challenge.
Initially, the loan officer wasn't going to go for it because I had one too many late payments on the existing loan. She ultimately sent me to the Credit Union's president. After reviewing my financial situation, Larry and I agreed on what sort of monthly payments I could withstand, and arrived at a loan amount based on that. Part of the agreement involved my going to Enterprise Auto to purchase the car; at the time the Credit Union had a special arrangement with this company.
The best car the loan amount would buy was a basic Ford Escort. No cruise control, no cd or tape player, no power windows. Just the basics, ma'am. Of the items I just listed, the only one I've missed is the cd/tape player. And I've even learned to live without that.
By this time, I had moved to Oklahoma City. I was filing for divorce — making the obvious end of my marriage official. So, I wasn't putting the miles on this Escort that I had on the Geo Metro (obviously, I have little brand loyalty). I had successfully paid off much of that consumer debt, but was still struggling to get by on what a family-owned bookstore could afford to pay me.
I found a new position in the summer of 2000. Once again, I'm working on a college campus, as I did when Mary & I first met. But, I'm earning considerably more now, with semi-annual cost of living increases. Thanks to this improved salary, I am now paying a mortgage (rather than rent), and have successfully paid off the upside-down loan on the Escort (which included the balance of the loan on the Geo).
I tell you what: when I received the official paperwork from the Credit Union, I did a little dance.
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