Need financial advicesssssssssssss

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Chazwozel

Here's the deal. I want a new Jeep Wrangler. Keyword want. I don't need it, but I'd like to get one. I like Wranglers much more than my current Subaru. We are also househunting.

My current car is in it's 2.5th year of a 5 year loan, and I'm upside down in the loan. The difference is about 1.5k trade in value vs. payoff.

I was at the dealership and crunched the numbers with the dealer (I'm under no pressure to buy), and we worked out monthly payments that are about 20 dollars more than what I currently pay for for my car now. I'll use the actual numbers: 389 a month for my Subaru and 405 for the new Jeep.

Now this is all well and good, but I like to look at the long run of things. My current car debt is about 13,000 and will be payed off in about 2.5 years, vs starting all over again at 5 years with a new debt of 24,000.

Like I said, we're house hunting. Will this dramatically affect my mortgage approval rates? When they look at debt to income ratios is it based on monthly income vs monthly debt or total debt?

Should I get the Jeep, or should I just stick it out with the goddamn Subaru and wait till it's payed off and we're moved into a new house before fucking around with buying a new car?

---------- Post added at 07:11 AM ---------- Previous post was at 07:08 AM ----------

You know what? Writing it out helped. I'd be a dumbass to buy a new car right now. I'd rather not affect my ability to buy a new house (an investment that doesn't lose value) and put that extra 16k into that rather than a new car right now.
 
Hailey Knight

Hailey Knight

Need financial advice

I'd say you came to the right conclusion even though I know nothing about mortgage influences, but just the fact that you have another kid on the way would make me think holding off on unnecessary big purchases is the right way to go.

Writing it out is a good way to sort thoughts. In fact, why do we even need Dave and Jay? We should all just have an Ask Yourself forum and answer our own questions.
 
sixpackshaker

sixpackshaker

Need financial advice

Find a -$5,000 more like -$3000 jeep to fix up. There are many of them and parts are cheap. It is a car that looks better old and beat up. Then you won't feel bad about scraping the paint on a tree branch or boulder.

Keep the Subaru, not a very manly car, but a damn fine car.
 
Dave

Dave

Staff member
Need financial advice

It probably won't negatively affect your house-hunting credit score, but with the additional expenses of the house and babies you should spend as little as possible. Yes, $20 per month isn't bad. But what about insurance? Does it cost more to insure a jeep over the car you have? Would a jeep be practical for carting kids from point A to point B and bring back groceries? The jeeps I think I've seen you talking about? Probably not. But then again there are different kinds of Jeep Wranglers.

In the end I know that getting a new car rocks, but now may not be the time in your life where you should be rocking.
 
Dave

Dave

Staff member
Need financial advice

Oh and not to shoot my own advice in the foot, this headline is on Fark.com today. WHen I saw it I laughed out loud & startled my cat into peeing all over me.

Doctors say that this may not be a cure for homosexuality, but it will decrease the size of womens' softball leagues, slash Subaru sales numbers
Click to expand...
 
C

Chazwozel

Need financial advice

phil said:
How are jeeps, in terms of reliability and such?
Click to expand...

They're pretty much tanks.

Here's the Wrangler I'm talking about:



Cept the one I was looking at is dark red.


And yes I know Subaru is the car of choice for many homosexuals. I can't help it if they have style. This is the Impreza I have:



It doesn't matter, I think my wife and I found a house we like today. I'm not going to f-up the negotiations and approvals over a car.
 
PatrThom

PatrThom

Need financial advice

I'd have a Subaru right now, if only they weren't one of the most expensive TCO cars out there right now.

--Patrick
 
Adam

Adam

Need financial advice

If you buy my Jeep Chaz, I will F'ing kill you. I don't want you taintin' the Jeep users lineup.

 
Rob King

Rob King

Need financial advice

Fuck. One day I will have my jeep. An orange (or as close as I can come ... yellow, tangerine ... whatever) 2-door Rubicon.
 
C

Chazwozel

Need financial advice

Adammon said:
If you buy my Jeep Chaz, I will F'ing kill you. I don't want you taintin' the Jeep users lineup.

Click to expand...
I had an 04 Rubicon prior to my Subaru. So :tongue:.



Protip: Real Jeeps don't have power windows, power doors, or 4 doors. ;) And if that JK of yours is an automatic, you bow your head in shame.

---------- Post added at 06:52 AM ---------- Previous post was at 06:45 AM ----------
PatrThom said:
I'd have a Subaru right now, if only they weren't one of the most expensive TCO cars out there right now.

--Patrick
Click to expand...

Haha, a Jeep is pretty much "donate all your money now". (if you're an enthusiast that is). But they do hold their trade in value well. My Subaru depreciated horribly, and it's in great shape.
 
Adam

Adam

Need financial advice

Chazwozel said:
Protip: Real Jeeps don't have power windows, power doors, or 4 doors. ;) And if that JK of yours is an automatic, you bow your head in shame.
Click to expand...
:(

It's the only vehicle we own. IE the daily commuter (which in these parts, it's a necessity to have something a little rougher to get through the evils of the harsh Canadian winter). AND, I need the towing capacity for all my shit. So 4 doors it is.

My wife can't drive stick :(

FUCK YOU! I can still be a man with my Wrangler! *sob*

I can put 32" tires on there with no mods or put a 4" lift on it and go with 37's.

 
sixpackshaker

sixpackshaker

Need financial advice

I like the 4door set up. I think it would be a good camping rig. Good for logging roads and switchbacks but not good for true off-roading. Where I live that would be plenty of action. Not many boulders and mountain climbs in East Texas.
 
Adam

Adam

Need financial advice

sixpackshaker said:
I like the 4door set up. I think it would be a good camping rig. Good for logging roads and switchbacks but not good for true off-roading. Where I live that would be plenty of action. Not many boulders and mountain climbs in East Texas.
Click to expand...
That's essentially what we use ours for. Pull a nice light tent trailer behind it, or a pair of jet skis/skidoos. Also hard to fit 4 people in a two door wrangler.
 
C

Chazwozel

Need financial advice

Adammon;428034][QUOTE=sixpackshaker said:
I like the 4door set up. I think it would be a good camping rig. Good for logging roads and switchbacks but not good for true off-roading. Where I live that would be plenty of action. Not many boulders and mountain climbs in East Texas.
Click to expand...
That's essentially what we use ours for. Pull a nice light tent trailer behind it, or a pair of jet skis/skidoos. Also hard to fit 4 people in a two door wrangler.[/QUOTE]


Oh you find ways! The four door I can forgive. I might even let the power options slide, but you should tell your wife to nut up or shut up in terms of transmission.

It's a sin that auto is even available for Wranglers.

I taught my wife how to drive stick on my Rubicon. She bucked the bitch like a bronco, but after a while she drove it to work more than I did.
 
C

Chibibar

Need financial advice

Congrat on finding a house :)

What I learn when buying my house.
getting credit card is good, it built credit
canceling credit card is bad, it actually reduce your score since part of the score is your credit history with that credit.
PAYING off collection (bad debt) is bad. My financial advisor said to banks that is same as admitting faults. (note: I did pay them AFTER I got my load so it is all good. It is stuff my Mother in law did with my wife's credit history and Identity)
don't miss any payment on any credit cards/load = good :)
Since my score was borderline 700, my advisor told me NOT to buy the new car until afterward. Funny thing, it is better since I am a home owner when I bought the car the week after.......

Credit scores are weird :)
 
C

Chazwozel

Need financial advice

Chibibar said:
Congrat on finding a house :)

What I learn when buying my house.
getting credit card is good, it built credit
canceling credit card is bad, it actually reduce your score since part of the score is your credit history with that credit.
PAYING off collection (bad debt) is bad. My financial advisor said to banks that is same as admitting faults. (note: I did pay them AFTER I got my load so it is all good. It is stuff my Mother in law did with my wife's credit history and Identity)
don't miss any payment on any credit cards/load = good :)
Since my score was borderline 700, my advisor told me NOT to buy the new car until afterward. Funny thing, it is better since I am a home owner when I bought the car the week after.......

Credit scores are weird :)
Click to expand...
My credit score is the last thing I'm worried about. I'm in the 750-800 bracket, which means I can pretty much buy a house with my credit card.
 
Adam

Adam

Need financial advice

Chazwozel;428056][QUOTE=Adammon;428034][QUOTE=sixpackshaker said:
I like the 4door set up. I think it would be a good camping rig. Good for logging roads and switchbacks but not good for true off-roading. Where I live that would be plenty of action. Not many boulders and mountain climbs in East Texas.
Click to expand...
That's essentially what we use ours for. Pull a nice light tent trailer behind it, or a pair of jet skis/skidoos. Also hard to fit 4 people in a two door wrangler.[/QUOTE]


Oh you find ways! The four door I can forgive. I might even let the power options slide, but you should tell your wife to nut up or shut up in terms of transmission.

It's a sin that auto is even available for Wranglers.

I taught my wife how to drive stick on my Rubicon. She bucked the bitch like a bronco, but after a while she drove it to work more than I did.[/QUOTE]

I am committed to teaching her, just so I can buy the Mini Cooper in a non-lame version. But she's not going to practice on that. I need to find a beater so she can wreck it.
 
C

Chibibar

Need financial advice

Adammon;428109][QUOTE=Chazwozel;428056][QUOTE=Adammon;428034][QUOTE=sixpackshaker said:
I like the 4door set up. I think it would be a good camping rig. Good for logging roads and switchbacks but not good for true off-roading. Where I live that would be plenty of action. Not many boulders and mountain climbs in East Texas.
Click to expand...
That's essentially what we use ours for. Pull a nice light tent trailer behind it, or a pair of jet skis/skidoos. Also hard to fit 4 people in a two door wrangler.[/QUOTE]


Oh you find ways! The four door I can forgive. I might even let the power options slide, but you should tell your wife to nut up or shut up in terms of transmission.

It's a sin that auto is even available for Wranglers.

I taught my wife how to drive stick on my Rubicon. She bucked the bitch like a bronco, but after a while she drove it to work more than I did.[/QUOTE]

I am committed to teaching her, just so I can buy the Mini Cooper in a non-lame version. But she's not going to practice on that. I need to find a beater so she can wreck it.[/QUOTE]

my wife is afraid of driving a stick. She tried is a couple of time with her friend's car and didn't work out well. Right now I don't have a manual transmission car to teach her with :(
 
U

Unregistered

Need financial advice

Chibibar said:
my wife is afraid of driving a stick. She tried is a couple of time with her friend's car and didn't work out well. Right now I don't have a manual transmission car to teach her with :(
Click to expand...
My dad has offered the use of his Camaro



but we'd probably end up melting the tires off when she put a bit too much gas down :(
 
sixpackshaker

sixpackshaker

That is a pretty cherry looking old Camaro. I don't think I'd let anyone learn to drive a stick in that car. Use the MINI, that shifter is easy and damned near bullet-proof.
 
Dei

Dei

My husband was teaching me how to drive stick in college, I'm sure I could still manage, but I tend to panic on hills because I haven't had enough practice to get the car in gear before I start rolling backwards. (So many hills around our college it was crazy)
 
tegid

tegid

Dei said:
My husband was teaching me how to drive stick in college, I'm sure I could still manage, but I tend to panic on hills because I haven't had enough practice to get the car in gear before I start rolling backwards. (So many hills around our college it was crazy)
Click to expand...
Tip: pull your handbrake while the car is starting to get into gear! :)

(You crazy americans and your automatic transmission cars!)
 
C

Chazwozel

tegid;428358][QUOTE=Dei said:
My husband was teaching me how to drive stick in college, I'm sure I could still manage, but I tend to panic on hills because I haven't had enough practice to get the car in gear before I start rolling backwards. (So many hills around our college it was crazy)
Click to expand...
Tip: pull your handbrake while the car is starting to get into gear! :)

(You crazy americans and your automatic transmission cars!)[/QUOTE]

What?!?
 
tegid

tegid

Maybe I didn't express myself correctly?
What I mean is, keep the handbrake pulled a little while you start pressing the gas and easing off the clutch, then let the handbrake down as the car gets into gear enough not to roll back. There's nothing wrong with doing this, It's just a trick for when you are too slow with the clutch-gas thing...
 
Dei

Dei

My dad actually let me drive his stick shift Mustang around the time I was just learning how to use a stick, and I remembered why I went to Driver's Ed instead of learning from my parents. :p
 
C

Chibibar

Dei said:
My dad actually let me drive his stick shift Mustang around the time I was just learning how to use a stick, and I remembered why I went to Driver's Ed instead of learning from my parents. :p
Click to expand...
I learn driving a stick off a Mazda b2000 pickup truck. I loved that truck. My dad would make me practice on hills ALL the time. I use to use the emergency brake at first, but after weeks of practice (and going backward couple of times) I can finally do it.
 
sixpackshaker

sixpackshaker

A few friends and a brother over the years growing up would let me practice once or twice on their cars. But I never really learned to drive a stick until I bought a new Dodge Dakota and drove it off the lot. I drove it 11 years, and I think it is still on the road. Not bad for an original stick-shift tranny to go over 200k miles.
 
Bubble181

Bubble181

Silly americans and their view of auto as standard :-P
Stick isn't hard, it's the way a car is meant to be driven.

On the other hand, damnit, I want that camaro :-P
 
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