Newer safer car for my girlfriend who's pregnant with my baby
By dcroce
@dcroce (98)
United States
April 24, 2007 12:21pm CST
Hey everyone, my girlfriend who is about 2 months pregnant with my child (it was unexpected) needs a newer/safer car because the one she currently has is an older '95 car with over 100k miles on it and it just isn't safe for a baby to be riding in. So her uncle who owns a dealership went to a car auction and got her a nice 2002 jeep grand cherokee laredo for 10k. It's a much safer vehicle being bigger and more reliable with side airbags etc..
Anyway, my girlfriend wants to take a loan out for the jeep under her name and pay that off in 3 years. this is one of our options.
Another option could be that I pay a down payment from some of my savings of 4k and take a loan for the rest 6k out in my name and pay that off in 5-6 months so we wont have a car payment when the baby comes. But if i take this route we might not have much savings come November.
Do you guys think its better to pay the Jeep off now before the baby is born or do you think saving first and paying the jeep off in 3 years is a better bet?
Thanks!
2 people like this
2 responses
@rhinoboy (2129)
•
24 Apr 07
Nobody woth their salt should advise you to save while in debt.
The basic fact is that the interest on your loan will be costing you more than the interest on your savings will earn.
My baby is 6 months old and, believe me, they cost an awful lot more than you could ever think. The last thing you want is a big loan hanging over you. I would advise you to pay off the car as quickly as possible, then start saving hard for baby stuff.
@rhinoboy (2129)
•
27 Apr 07
I found out last January that I was to be a daddy (unplanned but welcome) so I may be able to provide you with a fresh insight as to what's coming!, we were completely unprepared too!
Check out some of my old discussions for info. I'll send you a friend request too, in case you would like to talk more.
Thanks for best response too!
I forgot to add last time, CONGRATULATIONS!
@egfitz62150 (645)
• United States
24 Apr 07
I'd pay off the Jeep ASAP. Babies can create bills you'll never really be prepared for, so you're better off being able to put all available funds in readiness for that. It will make things a whole lot more simple if you aren't having to juggle your money once baby makes three. Hey, BTW, congratulations!!!!! It may not be of your own planning, but it was meant to be. Enjoy, and be prepared to be more in love than you ever thought possible!
@dcroce (98)
• United States
24 Apr 07
thanks for your comment and thank you for the kind words. i've been stressing out about the whole situation because i'm not one for being a huge fan of change and a baby is a huge change! but i know it'll be worth it and paying off the jeep is definitely the better bet so I can focus all on the baby come november. thanks for the advice!
1 person likes this
