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is this smart?????

My husb is the only who works now... He has a great income . We could go out and get a new car but feel that is a waste of money.... We have just went down to one vehicle....Trying to save money...I drop him off at work and pick him up . I watched Dr.Phill about saving money during this recession and he mentioned this as a good way to save and not over extend your self...what yall think?

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Anonymous

Asked by Anonymous at 5:04 PM on Aug. 7, 2009 in Just for Fun

Answers (11)
  • Absolutely. DH and I are in the process of doing such, with only a few more kinks to work out before the dually goes to someone else!
    matobe

    Answer by matobe at 5:05 PM on Aug. 7, 2009

  • I don't like that idea, I'd feel like I couldn't go anywhere because I had to pick up my husband.
    staceynoel

    Answer by staceynoel at 5:07 PM on Aug. 7, 2009

  • We also sold one car... We save the carloan payment and insurance... That made it possible for me to stay at home with my daughter!
    Before I was basically just going to work for my 500 $ car loan and car insurance and daycare for my daughter!
    If I want the car I just have to drive my hubby to work in the morning and pick him up in the afternoon!
    crazypink

    Answer by crazypink at 5:08 PM on Aug. 7, 2009

  • I would set aside the money u would pay in car payments in a savings account. MAybe one day you could buy a car them w/ no dept. Also it would be there in case of a rainy day. Honestly I would go nuts being a 1 car family but if it works for you then it is a very smart money choice
    Lynette

    Answer by Lynette at 5:09 PM on Aug. 7, 2009

  • really depends on the type of car you have now. we have a jeep grand cherokee my husband works about 19 miles from home (well he did we just moved so now we are only 3 miles away but he's deployed so don't know how big of a diff gas wise it'll make) but anyways, when i took him in and picked him up so i could have the car for the day, it cost me about $20 a day to do this in gas money alone, b/c it was like him going to work on his own twice (me take him, go home, go get him, go home). so we got him a small car to drive to work, it cost him about $20 a week in gas, and we kept the jeep at home and it cost me about $10 a week in gas to drive it on errands. we refinanced the jeep to make the payment smaller and then when we got his car, we just made that payment the amount that was cut off the jeep payment. if that makes sense. in the long run, interest wise, we'll have less but right now its cheaper.
    vabchmommy

    Answer by vabchmommy at 5:10 PM on Aug. 7, 2009

  • I have always done this...never could afford a second car...it would be nice, but a luxury we just can't afford right now.
    KaylasMiracle

    Answer by KaylasMiracle at 5:10 PM on Aug. 7, 2009

  • I think the drop off and pick up thing would get old really fast. We make a point of never owning a brand new with a payment. We buy used (no loss of value the minute you drive it off the lot), it costs less to insure and there's no car payment. We just bought a really nice used car. It looks nearly brand new and drives like new.
    Anonymous

    Answer by Anonymous at 5:18 PM on Aug. 7, 2009

  • We did that for most of our childrens lives. DH has a motorcycle when he has to go other places during work. But yea, it saved us a lot of money on payments and insurance. We bought DS a used car for his graduation present and paid cash for it. So we still have only one car note and very cheap insurance
    pnwmom

    Answer by pnwmom at 5:22 PM on Aug. 7, 2009

  • I would not suffer if you can aford it but I would save some money just to be carful we have feeling s that you should get some of your money converted into gold becuz we are afraid the controlling bad people will try to make the green paper money not be worth alot just my opnion take as yiou wish
    goatmom4

    Answer by goatmom4 at 5:29 PM on Aug. 7, 2009

  • My husband and I tried to trade in both cars to get just one, and we couldnt even get financed that way, with that big of a down payment. It's a great idea if you can do it.
    mumma28

    Answer by mumma28 at 6:27 PM on Aug. 7, 2009

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