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ok, so i was thinking about dumping my wifes car. although shes really not on board. lol. but heres the deal 2014 prius v 32000 miles. about 4 years left on the payments. 22 k balance on the loan@465.00 a month the car seems to be worth about 17k as a trade in. i thought of trading for a 5k$ car older corolla or somthing like that. my wifes commute is 2/10ths of a mile. yes thats correct 2/10ths of a mile. just the thought of being able to put the 465.00 towards the debt, we have the 5k were upside down on the car. to put toward paying off the loan.
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so you are upside-down by about $5k
Park the prius until you can get the balance down to the break even point. You could accelerate that by putting the money you are saving by not driving the car (gas, etc) towards the balance of the loan.
If possible continue to save and pay cash for your next vehicle.
Trading in the prius upside-down by $5k into another loan of $5 would set you back to owing double what your replacement car is worth....if a finance company would even do that deal.Gunga galunga...gunga -- gunga galunga. -
I used to bike to work at 2 of my jobs that were 3 and 3.5 miles from my house. So .2 miles, can she walk it? It may even be faster.Originally posted by jared521 View Post
As for the car, it's up to you, it doesn't sound like the payment is much of an issue, so you can just keep paying that. Or you can pay the difference and sell the car. It isn't a big deal long term.Comment
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Thanks for the replys. I guess ill just let it ride out. Its no issue making the payment. I was just think about applying the payment elsewhere..Comment
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It won't go over good having your wife make the car sacrifice. Consider doing something different with your wheels instead to allow here to keep hers.Comment
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Could the two of you share 1 car? With a 0.2 mile commute it seems like it should be feasible unless there are disability issues.
Cars are the biggest depreciating asset that most of us own and are a hefty financial burden, costing us for insurance, inspections, licensing fees, gas & maintenance.Comment
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Trade it for a Volt; ours got over 170mpg, making the Prius look like a guzzler.Originally posted by Jluke View PostYes, but saving money on gas since it is a PRIUS....
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Originally posted by feh View Post
I agree. if it was me i would walk or ride my mountain bike. its ridiculous.the thing is she would have to cross a 4 lane state road. also about 30 years ago she was in a terrible accident. and both her legs got crushed. and they are loaded with pins and rods. she was in a nursing home and everything. they didnt think she would ever walk again. and yes i believe walking would be faster. because of the traffic patteren.Comment
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sorry i cant seem to figure out how to put multiple quotes on the same reply. my car is paid for. its a 2000 camaro z28. rescued from my uncles garage with 52000 miles. its my happy place if you will. my commute is 25-30 miles round trip 4 days a week. depending which way i go highway/backroads. the reason she works so close. she works for a local bank and has been there 20 years. and just recently transferred to the operations dept. which just so happens to be around the corner. and we did share 1 car years ago. i was working the night shift at my job.it was ok. but also a real pita! i really appreciate all the input here.Comment
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You should start driving her car and sell the Camaro. The Prius will be much more valuable to you on a 30 mile commute than it will driving 2/10 of a mile.Originally posted by jared521 View PostBrianComment
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