the transmission on my f150 has gone out (again. i know i know i'm rough on them) it's an 02 with 120,000. i have ALOT of sentimental value AND money in this truck. i spent a year in iraq for this truck. i DON'T want to sell it. it's paid for so i figured i would put it in the garage as a "project".

i found a 89 bronco, lifted, 33's, sunroof, wheels, onboard air compressor, excellent condition. the person selling it is the head of a charity for veterans that i helped start. so the money went to a great cause (to help home homeless vets) it's in the shop right now getting looked over and a few things tweaked on it. it's got a brand new trans, transfer case etc. NOTHING wrong with it.

now comes my wife who has a 07 caliber that she HATES but we were in a bad spot and HAD to have a vehicle and drivetime was the only people we could get a car from. we still have 2 more years on the note. she recently got her reenlistment bonus and found a jeep grand cherokee limited in excellent condition for $3k. against my advice and suggestions she purchased the vehicle 2 days ago.

we do NOT need 4 vehicles.yes, 3 of them are PAID for, but still. we want to get rid of the caliber but are too upside down. i think we should have put the 3k towards the principal of the car but what is done is done.

any suggestions? don't be too hard on her guys she is young and it was HER money... i'm thinking when i get the bronco outta the shop (even though it's what I've been looking for) i'll try to sell it.

help

 

Don't feel bad I have at least 8 right now. Sell the caliber for whatever you can get out of it its just going to depreciate more and more.

 

This, if I wasn't so close to getting my wife's van paid off and she wasn't so hell bent on not having any car payments with in the next couple years I would have traded it in on something else a couple years ago. I'm surprised they didn't take the Caliber for trade in and tack the amount you were still upside down on to the bill.

It sucks but its probably your sensible side talking when you talk about selling the Bronco. Then again it will give you something to hold over her head next time you want to make a big purchase

Full coverage (unless the lean holder isn't requiring it, everyone I've dealt with has) on two cars is going to be rough too. USAA cut my insurance in half compared to allstate, if you haven't already switched. Same thing when refinanced the van.


*The only way I'm affiliated with USAA is as a member, in no way do I receive payment for speaking highly of them. I think every member, past and present, should consider making the switch even if you think your Mom's credit union that you've been with since she opened your first savings account in the summer of '98 is better.

 

i HAD full coverage on the truck, but i'm dropping the insurance until it's fixed. the bronco is getting liability only, she's paying 115/month full coverage on the caliber, and no clue on the jeep. usaa is great, thats who she has. i personally like geico and thats who i've been with for 5 years now.

what about using the vehicle as a charitable expense? like say transporting vets between towns and to and from the va? racking my brain trying to think of SOMETHING

 

I would get rid of the the Caliber and not use it for charity because you are just going to incur more expense, wear and tear on the vehicle as well as depriciate the value faster by piling a bunch of miles on it. Don't get me wrong I am all for helping our military but I try and take the emotion of decisions like this because it tends to complicate them.

 

Easy she sells her caliber for whatever she can get and she pays off the rest with her money.

 

Step back and look at things from a logic stand point.

1. F150 that won't go down the road.
- How much to have the trans rebuilt, and can you come up with the money to do it ?
- I hear you on the attachment to it, but it is a pile of steel, not your wife.

2. A Bronco that is good now, but it is a 22 year old vehicle. That in itself could lead to down time and repair bills, let alone being lifted with big tires. You are self proclaimed hard on vehicles. Long term will this hold up, and not be in a similar spot in the garage next to the F150 in 2 years ( and you walking ) ?

3. 07 caliber that runs.

4. jeep of unknown vintage, runs ( and could be the wife is easier on vehicles that you ).

Looking at what you have, and not knowing what other money / job / transportation situation you are in...

You drive the Caliber, selling the Bronco to get the funds to repair the trans in the F150.
Don't know how much is left over on selling the bronco vs repairing the F150.
If you have anything left from this transaction, put it towards the note on the caliber, so you can get rid of it sooner than the 2 years that is left on the note.

This gets you back to the F150 and now the Jeep.

Don't know if you went into the marriage with this as a condition, but it is not your money, and her money.
It is a case of our money, with the 2 of you.
It is also our credit rating with the 2 of you.
Thinking some day you might look at purchasing a home together ( don't know if this is already done or not ), and maybe expanding the family, you need to start thinking as 1 pile of money.
Get this corrected now, else each of you are going to have 4 cars each, sitting in the driveway and garage and nothing but rusting metal to show for the money you have made over the years.
You can set aside money from the budget for things each of you can buy, but decisions like buying a Jeep or Bronco type expense need to be talked out 1st. From your post, it also sounds like there is no budgeting going on, else buying another car, while paying on a car would not be happening.

 

We've been married 5 years... The reason i say it's her money is because it's what she got for reenlisting. The transmission for the truck will be around $2k, probably a little more. I was gonna save up a little and have the motor redone with new heads, cams etc (already got most of the parts). I was gonna get a raptor, but decided against it. Best thing about the bronco is that whatever goes wrong on it I can fix myself (I've had 3 so far). I'll probably end up trying to sell the bronco, put whatever I get from it towards the principal of the caliber. It's hard for me to get around in the caliber tho because of my service dog

 

why would she go from a decent new vehicle to a $3k jeep?

i don't think i'd ever DD a 22 year old vehicle unless i built it and knew the condition of it. I'd sell both her vehicles and get her something newer that she wants, knowing she will be in a safe reliable vehicle is priceless for your wife (and kids if you have any)