downsizing to one vehicle?

[judybean]

Yes! And I'm excited about it! So is dh!!!

Of course I didn't need 'permission' from him to check on what the buy-out would be for our car loan, but I did want him on board for all of this because he is the one that drives the car. Oh, and the one vehicle we have is a hip, stylish minivan (hm... sarcasm much?!?! ... actually I do love the thing, plus it's necessary as more children are planned!)... anyway...

I called to see what the buy-out would be on our loan if we did it today (it fluctuates every day of course because of interest ).... and then compared that to the kelley blue book private-party value of our car.

Now of course I can't just go into the good stuff yet, I have to give you a litte background. Don't worry, it won't take long

Honestly, I was just hoping that we wouldn't come out more than $1,000 in the hole (figuring the depreciation of cars... ours is in excellent shape... it's a 2005 Impala with 20,000 miles) -- we would actually come out $400 ahead if we were to get the KBB value on it!!!!

Holy cow!! I'm not worried about coming out ahead at all (of course it would be nice, but beggars can't be choosers) -- I just am happy we could potentially break even!!!

Now... if only we can actually *sell* it for that much!!! I might actually call up the guy that sold it to us (independent dealer guy) to see if he wants it back. I think he could make some good money on it! We have put hardly any mileage on it anyway.. but.. I'm going off a bit

I'm just so excited about this! Yes, I really want to only have one vehicle for our family! Even with no public transportation!!

I'm excited for two reasons: 1) it's simpler. really. 2) It will save us buttloads of money. Really.

Our payments were near $300/month... and insurance on it figured to about $55/month. Wowsers! Do you even *KNOW* how much money more each month that is?!?!? (um, we're a bit on the broke side right now... dh got paid on the first, I wrote out all the bills and we were broke by May 2 ). We can pay down and hopefully even pay OFF the ccs eventually and maybe *gasp* get a savings account going!! (although first we're going to put a darned window in the kitchen. there are those gross glass blocks above the sink.... who in their right mind DOES NOT put a window in a kitchen?!?!!?).

[aisraeltax]

wow!!!! im amazed!!!!!

[Panthira]

I thought about that yesterday. I really want to feel good about our choices in life, and giving money to the oil industry more than we have to is not a choice I want to make. We have 2 paid off vehicles - a minivan and a Mazda. My husband works an hour away from home, but he tries to take public transportation as much as possible. But he has to drive to BART (Bay Area Rapid Transit) really early in the morning to get to work on time. I have things I want to do with the kids, like classes and go to the park which is pretty far from our house, like 6 miles far. I just don't see how we can do it. We thought about a hybrid, but we don't want car payments.

Good for you! I really commend you for thinking about doing this.

[judybean]

The good thing about living in a small town? I'm about six/eight blocks from the nearest grocery store, the nearest park is just on the other side of the block, the library is about four blocks away... and the whole 'downtown' is just three blocks away Plus, if push came to shove, I could always take dh to work (he works seven miles out of town until 10 p.m. or later, so he needs a vehicle) the four days a week he works and hopefully he could catch a ride home!! ... Or, my parents live in town and MIL lives in town as well (and works just three blocks from our house).... or an aunt and uncle of dh's live just around the block ... the possibilities are endless ...

But wait... I'm getting ahead again... we still need to *sell* the car!! I'm hoping it won't take too long to sell... it's dependable, low-mileage, a CAR (as opposed to gas-guzzling machine) and... it's cute? (a gorgeous rich, royal blue).

[aisraeltax]

judy, have it detailed first. the cleaner a car it, the more $$ you will get for it. if its in excellent conditino, it may go for more than the BB value.
good luck! i hate selling cars, etc. i usually just trade them in but with 2 cars and no car payments, right now we cant stomach it.
i would like a car that can fit all our kids (if dss comes up, we cant all go out in one car...i have a Saab that only has 3 seatbelts in teh back and that means 5 passangers max. dh would like for me to bend those rules, but NO WAY!
good luck judy..hope it goes fast!

[allnaturalmama]

Yay for you! We've gone through stages of being a no-vehicle and a 1-vehicle family, and I have to say, it's very liberating. Paradoxical, huh?

[Thursday Girl]

that it is really cool i would like to downsize vehicles, we have three!! all paid off, actuall all given to us. but dh won't let us get rid of the el camino or the camping van as they are "birth rights" LOL. they don't hold two carseats so we have a lumina as well. the van gets used only for camping now, and the el camino isn't being used at the moment but when it is used will be used maybe once a week. they use way to much gas for anything else. the van and especially the el camino, we are talking 10 -12 MPG maybe 13 on the highway. but it's his love of loves besides the family.

[judybean]

if both of our vehicles were paid off it might be a different story, because right now we have TWO vehicle payments costing us over $600/month PLUS $116/month in insurance. that is completely ridiculous!!

thanks for the detailing tip, rach. luckily we wouldn't have to do much to the car because we haven't had it that long and in the time it's been ours, pretty much only dh has had it... it even still has the 'new car' smell!