Monday, September 22, 2008

Does Anyone Want to Help Me?

Good Monday morning to you all. Mr. R and I are in quite the financial pickle (we're not going to lose the house, it's not that bad!) and I just need some advice. Please.
As ya'll know, we lost our Jeep about a month ago. Of course, the vehicle was paid off, it was running just fine, and didn't cost us much in the way of upkeep, except for fuel and insurance. Even though the vehicle itself wasn't valuable monetarily, it worked for us. And now it's gone. :(
Anyway, we finally heard that we're going to get a mere $1300 for the vehicle. In a way, I'm shocked we're even getting that much, because it is a 12 yr old Jeep. But at the same time, $1300 cannot buy you a reliable vehicle. We do have some money in savings, but it's still not enough to buy a dependable car/truck in cash. And because we are still making payments on my car, we cannot afford to do payments on a second vehicle.
So here is the question for you:
Do we take the $1300, plus the 3 grand we have in savings, and buy a vehicle for about $4000? Or do we take the $1300, pay off two credit cards (totaling $900 together) and keep the other $400 to buy Christmas gifts for the kids? We'd have to share my one vehicle, the 2006 Magnum. Since I work from home, I rarely even drive it. I've put about 20,000 miles on it in two years, and that includes two round trip visits to Charlotte, NC. The main issue would be, that Mr. R would have difficulty coming home for a job. Because if he has my car, then I don't...meaning that I'd have issues getting to department meetings, and if a child gets sick, I'd have to take a taxi. I realize that taking a taxi is only $20, whereas dealing with car insurance and fuel is much more, however, it's the convenience factor.
So I guess my real question is, how much are YOU willing to pay for convenience?

The Money Tree


D'Rae said...

hmmm.... that's a tough one. Personally, I would either try to work it out so you only have the one car. (Can you pick him up from his job when he comes home?) Or I would use the $1300 to find something cheap that would serve it's purpose to get him back and forth.

Sarah R said...

It is tough, isn't it?
Sigh...we're still thinking about it. And praying, of course, too.

Miriam said...

I'd look for a used car or truck for $1300.00 or less so your man can get back and forth and this way you still have a reliable car for the kids. Our friends just bought a Jeep Cherokee for a grand with 170K miles at it... not going to last forever, but having only one vehicle with 5 people who need it and one of them gone often doesn't seem to make sense... Good luck girl...