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Personal Finances / Credit Cards and Consumer Debt
|Subject: Re: Changing cars (or not)?||Date: 3/3/2008 6:17 PM|
|Author: llambe||Number: 269060 of 307586|
I'd like to see more discussion along the which car first lines rather than on the type of car.
My thought is:
if replace DM's car must replace DH's car before next vacation (note: you could rent a mini-van or SUV or even van for trips)
can replace au pair car without affecting others
all seem to have an equally long commute
So perhaps replace au pair car first and see if it's "worth" it? If you're transferring part of the debt that would be paid off if you don't buy the new cars, then you could buy the new car, pay it off the debt and then if happy with the new car and going ahead with other purchases use a convenience check at that time.
If you get 15 mph now and will get 30 mph then theoretically that halves the gas bill for that car. For our MUCH shorter commute (~10 mi), we're paying about 120 a month for a SUV - if that number transfers to 60 you're theoretically paying 700 a month for that commute (which sounds high based on your actual numbers - oh I see ). So half of that would save 350 a month or 4200 a year which is about how much you'd be paying extra for the "new" car. Since you probably wouldn't save quite that much you're looking at a year and a half to two year "payback" period but with a much newer car than you currently have.
You don't really say how much you think you'd spend on the other two cars so it's harder to way whether they'd be worth it.
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