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Car payments and insurance update :)

Posted by on Feb. 4, 2014 at 6:03 PM
  • 57 Replies

We just paid off our car and are now looking to get a second vehicle.. I am so nervous because our previous car payment was $300 a month and insurance was $100 a month. Well the vehicles we are looking at are going to run us about $400-$450 a month and insurance will go up to about $200 a month give or take.. We may drop our paid off car down to liability but that makes me nervous so I dont think we will haha. I am just curious what do most military families pay when it comes to insurance and car payments. My husband is an E-4 and SHOULD make E-5 by this summer.. I know anything could happen so I'm not counting on it but hopefully he gets E-5 because that'd help out a lot.. Right NOW I know for sure we can afford it because I have extra income until August but after that we will just have his military pay..

So what do yall pay for car payment and insurance? If you have 2 car payments what do you pay total?

UPDATE: So for those of yall that care we ended up going with a mini van :( I could have cried.. I NEVER wanted to drive a mini van BUT our credit still isn't that great. We wanted to wait until his credit was better to get the car but due to certain things getting a 3rd row vehicle was a MUST! Plus we NEEDED a bigger second vehicle NOW! The payments are exactly where we wanted them and they came down on the price a LOT. We just paid off our car are were paying $300 a month for it and this time we will be paying $350 a month.. So its only a $50 increase in car payments and our insurance will go up some but we will find out exactly how much on Monday.. It could have been worse we could be put in a little crap car that was unreliable so I am just thankful that we were able to get a second vehicle with 3rd row seating. It also has 2 tvs and a back up camera hahaha. We didn't ask for them but they were included :) Well the back up camera was a must with it being a mini van! That thing is like a freaking bus! I'm going from a little compact car to a mini van. Stay off the roads people I feel like I'm learning how to drive all over again..


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Brett's mommy- March 26th, 2008
Brynna's mommy- December 9th, 2009

http://myjourneyfortheirmiracle.blogspot.com/

by on Feb. 4, 2014 at 6:03 PM
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Replies (1-10):
gunsgirl
by Silver Member on Feb. 4, 2014 at 6:19 PM

both cars are paid for. we would never ever buy a car that the payments were over 200 a month. ( I bought a brand new 2008 Dodge Avnger fully loaded, put a large down payment - payments were 199 a month and I paid it iff in 2 years.

We have 2 cars and a truck on our insurance ( USAA) (full coverage on all three) and pay 685 every 6 months, we do not ever pay monthly for insurance.

We also have our home owners insurance thru USAA and get a pretty decent discount.

Bretnasmommy
by Member on Feb. 4, 2014 at 6:29 PM

 EVERY car we have looked at even with a great deal wouldn't be any less than $350 a month. We are looking for a 3rd row bigger vehicle. We aren't even asking for fully loaded.. Most base models have what we want :(

Quoting gunsgirl:

both cars are paid for. we would never ever buy a car that the payments were over 200 a month. ( I bought a brand new 2008 Dodge Avnger fully loaded, put a large down payment - payments were 199 a month and I paid it iff in 2 years.

We have 2 cars and a truck on our insurance ( USAA) (full coverage on all three) and pay 685 every 6 months, we do not ever pay monthly for insurance.

We also have our home owners insurance thru USAA and get a pretty decent discount.

 


❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤
Brett's mommy- March 26th, 2008
Brynna's mommy- December 9th, 2009

http://myjourneyfortheirmiracle.blogspot.com/

TippyD
by Gold Member on Feb. 4, 2014 at 6:30 PM
1 mom liked this

we have only one car payment.. brand new car and it is 350 a month.. as for insurance, 1 car and 1 truck and a motorcycle we pay 90 a month


my question for you..  if you lose the income come august, how badly will that affect you? especially if he doesnt make rank? 
as for cars, maybe look at older modles,  or different cars.*or wait if that is possible and deal with one car..I know it isnt idea, but. if it is going to be an extra 500-550  a month that is a LOT to handle especially if he doesnt make rank, and you guys lose income..  

JerseyAirGurl
by Ada on Feb. 4, 2014 at 7:01 PM

My car payment is 320 and my husband puts 500 towards his car payment... And our car insurance is like 150 a month.

cocoroo
by Coco on Feb. 4, 2014 at 7:32 PM
2 moms liked this

Find a cheaper car.  We pay $610/month for both of our cars combined, but we certainly wouldn't have taken on those kind of payments when he was an E4 and we would never take on a bigger debt because he might get promoted.

erin708
by Member on Feb. 4, 2014 at 7:43 PM
We pay 1100/mo for two car payments and 250/mo for three vehicles. Yes were crazy. My car will be paid off in a yr.
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cocoroo
by Coco on Feb. 4, 2014 at 7:47 PM

Holy shit, that isn't much less than my mortgage.  Can I ask why you choose to pay so much for vehicles that will only lose Value?

Quoting erin708: We pay 1100/mo for two car payments and 250/mo for three vehicles. Yes were crazy. My car will be paid off in a yr.


erin708
by Member on Feb. 4, 2014 at 7:58 PM
1 mom liked this
We were young and stupid. I have a 35k car but when u roll over all the other cars we traded in it was close to 50k. Dhs truck is reasonable. We've learned our lesson. I had a seven yr loan on my car and it will be paid off in a yr. We are running these cars into the ground. Lol.

Quoting cocoroo:

Holy shit, that isn't much less than my mortgage.  Can I ask why you choose to pay so much for vehicles that will only lose Value?

Quoting erin708: We pay 1100/mo for two car payments and 250/mo for three vehicles. Yes were crazy. My car will be paid off in a yr.


Posted on CafeMom Mobile
cocoroo
by Coco on Feb. 4, 2014 at 8:02 PM
1 mom liked this

Thanks for answering.  I know it sounded really nosy, because I am, lol.  We all made mistakes when we we were young..

Quoting erin708: We were young and stupid. I have a 35k car but when u roll over all the other cars we traded in it was close to 50k. Dhs truck is reasonable. We've learned our lesson. I had a seven yr loan on my car and it will be paid off in a yr. We are running these cars into the ground. Lol.

Quoting cocoroo:

Holy shit, that isn't much less than my mortgage.  Can I ask why you choose to pay so much for vehicles that will only lose Value?

Quoting erin708: We pay 1100/mo for two car payments and 250/mo for three vehicles. Yes were crazy. My car will be paid off in a yr.



SusanD
by Silver Member on Feb. 4, 2014 at 8:03 PM
2 moms liked this
Honestly we buy what we can afford and not more. We live as though DHs income is our only income when it comes to what we can afford bill wise. Why? Because if we PCS, who knows how long it will take to get a job. This way we NEVER have to worry about wether or not we can afford something when we PCS and I have to leave a job, even though I make more than DH.
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