Is it time to buy a car???

[y26]

I'm really struggling with this one, my wife and I have no CC debt, our only bills is a mortgage. My wifes car is 13yrs old and has 120000 miles on it. It has been a great reliable car but it is a tiny car and now that we have two kids (3yrs old and 5months)the car seats are difficult and if i drive i need to put the seat up... I'm tall.... I have a bigger vehicle which we mainly use but if she has to get both kids we typically are trading off which sometimes can be a pain...

Also the bearings in the back tire need replacement along with brakes are needed. Anyways i hate debt but i'm thinking it is time to upgrade and she absolutely deserves it. Not to many people keep their cars for 13yrs now a days. I'm thinking of spending 15,000 and i work part time (second job) so that could actaully make the payment and more. This will not effect my main income with banking and paying bills. We are both on the fence just need someone to PUSH!!!!

[segmond]

okay, my car is 20yrs. with 250k miles. is it time to spend some of your savings and retirement fund? maybe, how comfortable do you feel with that?

[creditcardfree]

Can you make the payments even if you don't have a part time job? What if you were laid off? Are both jobs secure?

If you can handle the payments without too much stuggle...I say go for it. PUSH!!

[disneysteve]

It certainly sounds like a newer car is in order. I don't think you've given enough info for us to say how much you should look to spend, though. I don't know if 15K is reasonable or not without seeing your income and expense data.

By the way, I've got a 1998 Toyota. Since the 2011s are starting to show up, that will make my car 13 years old. My wife's Toyota is a 2000, so going on 11 years old. You're not alone.

[LivingAlmostLarge]

Same boat, 1999 Corolla, but that I'm keeping. We might get rid of our 2000 Focus. Maybe it is time. What sort of car is it?

I have to agree the focus is 2 dr and a pain! We really need a bigger car with the dogs and car seat, but we're making do for now.

[y26]

Thanks all for your input.. MY wife drives a 97 mitsibushi mirage... Could we continue as is yes.. However, i must say i honestly with having 2 kids in that car we do not feel safe... That is whats factoring into all this is them... If i had no kids then we would not even be talking about this cause she would carry on with the car...

I'm not concerned with affording it.. I ran the numbers and 15,000 is with or with out the part-time job will allow me to afford it including the increase in auto ins. I can also continue to have money deposited into savings...

Like i said in my original post i have no CC debt just a mortgage with 8yrs remaining. I'm 30 and my wife is 33... Excellent credit.. Combined income last year $98,000. $28,000 in the bank (ING) and would have more but with home ownership you need to maintian your property so we had new carpet put in and flooring in the bathroom and other minor updates that ate a couple of grande but it was needed.

My only flaw is retirement.. we should probably be a bit more ahead for our age but i'm more of a savings saver then 401k. Still thinking this one out...

As you can see we are not impulse buyers or splurgers...

Still on the fence...

[snafu]

If you want to put off buying another car until the Mirage bites the dust, you drive it and leave the larger car for your wife & the 2 kiddos

[segmond]

If you want to put off buying another car until the Mirage bites the dust, you drive it and leave the larger car for your wife & the 2 kiddos

exactly!

[LivingAlmostLarge]

What is your bigger vehicle? My problem is having two tiny cars.

[wnlbutterfly]

You mentioned being worried about the safety of the children. So the question comes down to whether or not to put money into this car or put that money into the new car. Something has to be done if safety is an issue.

You could get a bigger car that is a few years old and save a little.

[y26]

If you want to put off buying another car until the Mirage bites the dust, you drive it and leave the larger car for your wife & the 2 kiddos

I agree and do that now, only my line of work at times requires me to have people in my car and having two car seats in the back it only allows me to have one person in her car where in my truck i can fit two.. It complicates things at times but not always... Thanks for the info.

[y26]

What is your bigger vehicle? My problem is having two tiny cars.

I drive a mitsibushi endeavor.. I use to drive a two door plymouth sundance...

[cptacek]

I agree and do that now, only my line of work at times requires me to have people in my car and having two car seats in the back it only allows me to have one person in her car where in my truck i can fit two.. It complicates things at times but not always... Thanks for the info.

Car seats are removable...

[wfhouses]

Have you looked at any newer model used vehicles (say 3-4 years old) that you could pay cash for? I wouldn't finance it if you can afford not to.