Want to help me sort this decision out?

[nodmicks]

We have been looking at autos for months. We just had the 1st repair ever with dh's car in over 100k miles. I have put a chunk(ball joints, suspension stuff) into my 2001 with over 150K miles. However it is all wear and tear type stuff. The engine has so far been very sound. We started looking at mid sized suv's that can tow 3500 lbs. I kind of had my heart set on one model. There was also one full sized auto I liked that could tow just like my car now.

We had a pretty good car fund( been debt free long enough~ see it pays yeah!!!) We chose to borrow/gift a big chunk to someone near and dear who is terminally(pray not but that is the prognosis) ill because we felt her security and comfort was WAY more important. We do not regret this decision at all. We started re-saving. However there are a lot of savings goals going on this summer. Kids trip, fuel prepay, our few days when the kids are gone plus the regular sinking funds.

Ok here is the deal. Dh had me convinced since we had less cash to work with we should go for a used smaller model such as a focus/optima. We have seen several 2007-2009 in the 8-11K range that are under 30K miles . Dh has a super small car btw. I just can't make myself like the models we are looking at. yeah they are ok. However I like being able to fit 6 in my current auto. I like being able to tow the fishing boat and utility trailer. If we go to the smaller models we can do neither.

After driving a full sized auto since 1999 I so far just don't like the compacts. We have never owned 2 compacts at the same time before. Dh also has a point that we will have 1 less child at home most likely this time next year. Dh said we should go small and then when his starts having issues get the bigger auto I really like. Makes sense right? However we figure it will be 2-3 years before we replace this because this little car runs like a top and has great mpg for his 60 mile rt commute. I admit the smaller car for me would cut my gas bill.

Dh wants to go Sat to look at a few more and purchase. I know this makes sense but I am really hesitant. Dh said if I want to wait no problem as I have to drive it. He just worries I will have something not worth fixing go on my car and then we will be in a rush to buy one. Or worse yet both will decide to croak at once since they are both high miles. He does have a point. I'm not hesitant to commute the 60 miles rt to my job in the car at all. However with both cars being high miles I am hesitant to go 600 miles away with them. Is this silly?

I'm not sure if it is because this is the 1st time we will be paying 100% cash that makes it so hard to make a decision. Is it my bratty inner 2 year old because I am not buying a car I really like? Is the towing really that important? LOL can you tell I am really struggling ~ like for months with this decision? At first it was deciding what I wanted . CHECK! Now it is buying what is our current budget or buying at all.

Ok Villagers I know I am rambling and have rambled about this before! Surely someone else has had to make a like decision. I am really struggling to make a decision. I need to transfer funds tonight if we decide to go Saturday. Buy now or keep saving. I have never struggled to decide to buy a car before. However I have always loved the car and not paid cash!

Any insight or advice for me?

[melodys]

A couple of thoughts here. If you cannot tow the fishing boat and trailer what happens then? Will you lose interests and hobbies because you cannot use them conveniently?

Since it is your car, you should make the decision. Listen to your Dh's input, but you are the one most impacted by the decision.

There is a decision making process that I learned about last year that I find very helpful in these cases. It is called 10-10-10. When you have a decision between two things write down the pros and cons in 10 days after the decision (short-term), 10 months after the decision (middle-term), and 10 years after the decision (long-term). You should include your feelings as well as the more practical/concrete aspects of the decision on your list. I found that writing it all out and looking at the various time periods makes the decision a lot more clear.

Good luck.

[frugalwarrior2]

-Well those are very high milage vehicles
-you obviously got your moneys worth out of them and can't expect any resale.
So,I think you should get what you want,tow the toys (doesn't save money to let them sit and rot)
I would keep both cars,run them into the ground but you need a reliable 600 mile car w/ kids.

How much longer would you have to wait to pay cash on the bigger vehicle??

[frugal is fun]

I also suggest waiting and continue saving. Both cars are working fine right? It seems that you are putting uncessary pressue on yourself to buy a car now when in reality you have two vehicles that are both working fine.

And yes, what does happen to the boat and trailer if you buy something that won't tow? I know this would be HUGE for me, as a big part of our summer time fun is towing the fishing boat to local lakes.

You're just not ready yet.

[Greebo]

What's the current value of your existing vehicle and how much did you put into it for repairs? Also how much are you LIKELY to put into it for repairs/maint in the next year?

[leighcat]

-Well those are very high milage vehicles
-you obviously got your moneys worth out of them and can't expect any resale.
So,I think you should get what you want,tow the toys (doesn't save money to let them sit and rot)
I would keep both cars,run them into the ground but you need a reliable 600 mile car w/ kids.

How much longer would you have to wait to pay cash on the bigger vehicle??

That is what I would do. Either get what you want now, or just keep using what you have and continue to save. Either way I would keep the others until they no longer run. I am hoping to get a new (used and paid with cash) vehicle in the next 2 years. I will still keep my car as a backup if it is running since the resale isn't going to be worthwhile.

[nodmicks]

A couple of thoughts here. If you cannot tow the fishing boat and trailer what happens then? Will you lose interests and hobbies because you cannot use them conveniently?

Since it is your car, you should make the decision. Listen to your Dh's input, but you are the one most impacted by the decision.

There is a decision making process that I learned about last year that I find very helpful in these cases. It is called 10-10-10. When you have a decision between two things write down the pros and cons in 10 days after the decision (short-term), 10 months after the decision (middle-term), and 10 years after the decision (long-term). You should include your feelings as well as the more practical/concrete aspects of the decision on your list. I found that writing it all out and looking at the various time periods makes the decision a lot more clear.

Good luck.

THANKS SO MUCH!!!! I am going to do this as soon as I log off!

[nodmicks]

Frugalwarrior I have 12K cash left in the car fund. What I want is in the 24-29K range. That would take a bit. I'd have to sit down and figure it out. We won't be trading my 01 in but keeping it for the next kid unless they actually offer something really super on trade in. So if we did keep it we could tow the toys~ just not 600 miles. We have been asked to do a trade for our kids too small atv's for an older camper to big for the current auto too tow . That factors in a bit 4 me as I love camping.


Frugal is fun. That is kind of my end saving longer for exactly what I want. We might likely keep my auto for the next kid so we could tow but not as far as we may want.


Greebo I am on the netbook so I cant open Money right now. However I will guestimate we spent 900( suspension and heater-core, new hoses) since October on it not counting the 500 deductible when kiddo creamed a deer. 3 years ago I put 1100 approx into it for a trans seal.

The KBB private party sale value is $3350. Trade in value is $1850. I have no idea what to expect to put into it in the next year. I've got all new suspension, not quit year old tires, year old exhaust. The mechanic tell me it is sound and very well maintained but there are no guarantees. Everything is a ok right now.

On the towing ~ the lake and trails are 3.3 miles down the road. I would love to take the toys on a trip though.

Thank you for helping me hash this !!!! This was much easier in 01 when I just signed loan papers without a thought in my silly head!!! I was talking about this with 2 friends today and they thought I was a nut for not putting 12k down and getting a loan for the rest for the car I really want. NO!!!!!!! I don't want to be owned by a car.

[Greebo]

Greebo I am on the netbook so I cant open Money right now. However I will guestimate we spent 900( suspension and heater-core, new hoses) since October on it not counting the 500 deductible when kiddo creamed a deer. 3 years ago I put 1100 approx into it for a trans seal.

The KBB private party sale value is $3350. Trade in value is $1850. I have no idea what to expect to put into it in the next year. I've got all new suspension, not quit year old tires, year old exhaust. The mechanic tell me it is sound and very well maintained but there are no guarantees. Everything is a ok right now.

So the value is anywhere between 2 and 3k.

The deductible doesn't count - he'd hit the deer in a new car too. So you put 2000 into it over 3 years, or (LOL) $666.66 a year. AND the mechanic says it's a good car. All cars need maint and repairs - you have to choose between a $300/month car payment or $55/month average repair cost.

Keep the devil car. First of all, $666 a year is JUST TOO AWESOME to give up, and second, you're talking about spending many and many thousands of dollars to replace a car that's costing you less than $1k in repairs.

That car's got a LONG life ahead of it. Don't dump it till it costs more to maintain in a year than it's worth at private sale.

Put $100/month in the bank as "Car repairs/maintenance" and don't put a cap on it, and you'll sleep easy.

[nodmicks]

So the value is anywhere between 2 and 3k.

The deductible doesn't count - he'd hit the deer in a new car too. So you put 2000 into it over 3 years, or (LOL) $666.66 a year. AND the mechanic says it's a good car. All cars need maint and repairs - you have to choose between a $300/month car payment or $55/month average repair cost.

Keep the devil car. First of all, $666 a year is JUST TOO AWESOME to give up, and second, you're talking about spending many and many thousands of dollars to replace a car that's costing you less than $1k in repairs.

That car's got a LONG life ahead of it. Don't dump it till it costs more to maintain in a year than it's worth at private sale.

Put $100/month in the bank as "Car repairs/maintenance" and don't put a cap on it, and you'll sleep easy.

Yep knew the 500 ded didn't count just throwing it out there It makes it seem like more $ to us of course.

I wouldn't have a car payment but I would be missing 12K in the bank.

Greebo I like the way you broke that all down for me! We currently save 150 a month for repairs for two cars. I thought about bumping that up to 200 but since I'm putting weekly cash into the car buying fund I think I'll leave it at 150.

Your advice was spot on. You are right on the repair average too. One of my big fears is getting stranded out in the sticks on my drive to work. Well when I had a brand new not a mile on it Saturn I was stranded repeatedly. Dh pointing that out helped. New cars strand you too!

I did the list suggested for decisions. Terrific! That helped!!!!

I did a lot of talking to dh last night. I decided I would rather keep the car I have than get one I do not like unless mine has a huge repair and I need one asap. I like my car all except that spot of rust on one fender. I decided I'm going to pay a guy to do it on the side (150) because other than that it looks flawless and drives well. It is probably silly to fix it but it really bugs me! It makes it look like a clunker to me on that side. I have never driven a car with this many miles or age but dh takes them over and drives them into the dirt usually and I get a newer one. I need to not freak out about the miles I guess! They are 99% hwy miles which I'm told makes a difference in engine wear.

Both models I like are a new design for 2011. If I just hold out long enough I'll have more cash to spend and there will be used models of these two 2011's on the market I'd think! We will have more saved up then too. I am going to have the dealers I have been working with keep me on alert for either one of these models coming in gently used.

I tell you it is a WAY bigger decision when you are talking spending hard saved CASH( for me ) than a loan. At least for me! I had no issue deciding to write a check last summer for new windows and doors because we had saved it and the house value would improve. It is hard to spend cash on something that the value drops like a rock as autos do!!!

When we take our trip I decided we will rent a car. They have some really good 4 days specials going on. The peace of mind will be worth it I think.

Thanks for helping me. If I'm back here indecisive in a month just kick me!

[Greebo]

Just to be clear, my $100/month for maint/repairs is per car.

Glad I could help!

[nodmicks]

Just to be clear, my $100/month for maint/repairs is per car.

Glad I could help!

Got ya! We had been doing 150 for both cars.

[nodmicks]

oopps meant to start a new thread but put it here!

[Libby]

Glad to see you've got it all worked out nodmicks. Getting a new car to drive 3 miles down the road with the toys isn't worth spending your $12K but thats my two cents. I'd drive your perfectly fine car into the ground if possible and continue to save, save, save. After all you should know the reliability of your own vehicle....you're the one who's put all the miles on it

[mek42]

Could you get a beater truck ($3k or so) for the toys? That way you also have a third car for when something happens Tuesday that you can fix yourself but you need the weekend for the time.