Post by baconlettucetomato on Dec 17, 2012 13:16:13 GMT -5
So going over our budget last night DH and I are discussing two courses of action. Right now we're paying off CC debt(he had a ton when we got married) and I mentioned wanting to put that money toward paying down on our car loan so we could get a new(to us) car. We have a Mini Cooper and I'm terrified of having to take the car seat in and out of a two door car. My back hurts thinking about it. He thinks we need to continue paying down credit cards. We can't just trade in the car b/c we're upside down about 5K which is why I suggested paying it down. Thoughts?
I haven't had to deal with car seats yet but it seems like the best thing to do financially is to stay the course. How many more months do you have left of snowballing the credit cards? Maybe you could pay off the ones with the highest interest rates first and then work on the car loan.
We were fine with the carseat in and out of the back of DH's 2 door for the first few months when DS was tiny. So I'd make a plan that has you get a 4 door car when the baby is 4-6 months old. That gives you 9-10 months to work with.
I haven't had to deal with car seats yet but it seems like the best thing to do financially is to stay the course. How many more months do you have left of snowballing the credit cards? Maybe you could pay off the ones with the highest interest rates first and then work on the car loan.
We were fine with the carseat in and out of the back of DH's 2 door for the first few months when DS was tiny. So I'd make a plan that has you get a 4 door car when the baby is 4-6 months old. That gives you 9-10 months to work with.
This is good to know. DH has a deployment coming up so I was thinking the extra money from that would help a)speed up paying off debt b) provide extra for a car. Our other car is a four door but he normally drives it b/c its stick and I don't like to. We carpool so it isn't a huge deal but I just foresee needing to go somewhere and only having the mini and being by myself.
Why would you take the car seat out? Do you mean the baby carrier? You don't have to use one of those for very long. It's tight, but I know lots of parents with small cars and one with a MiniCooper and a babyseat.
You should be paying down your highest interest rate. Is the CC higher or the car loan? If I was this deep into debt, I wouldn't consider buying another car right now. You may feel like once you pay-off the car loan, you can get another car and another loan - but if you still have an extra $5K in CC debt, you haven't really changed your overall financial picture. You should be trying to get the highest interest rate paid down/off. Then, when you have no car loan, keep this car as long as possible so you don't have ANY car loan payment for as long as possible. Save the money you would have paid on the loan for a big downpayment on your next car, so you can pay for it in cash,or close to it.
Why would you take the car seat out? Do you mean the baby carrier? You don't have to use one of those for very long. It's tight, but I know lots of parents with small cars and one with a MiniCooper and a babyseat.
You should be paying down your highest interest rate. Is the CC higher or the car loan? If I was this deep into debt, I wouldn't consider buying another car right now. You may feel like once you pay-off the car loan, you can get another car and another loan - but if you still have an extra $5K in CC debt, you haven't really changed your overall financial picture. You should be trying to get the highest interest rate paid down/off. Then, when you have no car loan, keep this car as long as possible so you don't have ANY car loan payment for as long as possible. Save the money you would have paid on the loan for a big downpayment on your next car, so you can pay for it in cash,or close to it.
Yes, the carrier. We will have a base in each car but got a travel system so it snaps into the stroller. Idk how much we'll really use it but just something I was thinking about.
We are currently paying down our highest interest rate.
Post by vanillacourage on Dec 17, 2012 13:42:59 GMT -5
If you find that it's really tight in the Mini Cooper you could always leave the seat in the car and take the baby in and out (like you do with a convertible).
And, you never know what size baby you'll get. DS2 is very big for his age and was only in the infant carrier for ~4 months. It would have been a bummer to change our debt payment plan, for a VERY short-term problem.
My mom had a mini cooper and found it totally fine to use with my niece until she was around 2. When she was using the infant seat, she didn't think it was that much harder than a 4 door. It was when my niece got bigger and hated getting strapped in that the 2 door became a problem.
You need to continue paying off your ccs before you get a new car, especially since the baby won't be here for a while and you do have a second car. If you post your budget on MM, the ladies can help you save more. Buying a new car now (which is a total want not need) with credit card debt is a huge mistake.
Post by spankswife on Dec 17, 2012 14:31:53 GMT -5
Honestly, I have a 2-door and it was really easy with the infant seat. I would just reach her back, and plop her in. The release was on the back to take her out. We had the keyfit 30, so up to 30 lbs. That should buy you possibly a year.
Post by baconlettucetomato on Dec 17, 2012 14:48:49 GMT -5
Thanks everyone. I'm just nervous about the whole two door thing. But we plan on primarily using DH's vehicle since its a four door, it has lower miles, and its 4WD so I guess I'll just have to get more comfortable driving it.
Thanks everyone. I'm just nervous about the whole two door thing. But we plan on primarily using DH's vehicle since its a four door, it has lower miles, and its 4WD so I guess I'll just have to get more comfortable driving it.
I think this is a good plan. Will you be having the kids most of the time? If so, have DH drive the Mini as his primary car and you take the 4-door. Pay off the CC debt, then see how your finances look before thinking about replacing the Mini.