Has anyone done it, and if so, if you had to do it again, would you have waited til the 1st car was paid off, or it wouldn't have mattered? Just trying to get a general idea, that's all.

Sorry for the OT post, I'll send my donations in soon!

 

I understand your question, but as I'm sure you're aware it comes down to personal preference. What's in your/our wallet(s) dictates what you/we can do. Sure, if "I" can swing the payments I've have a everyday and a weekend car, plus the morgage, wife and kids
Enjoy life and what you want, go for it, what the heck

 

I am currently financing 3 cars. I have no intentions of ever financing more than one car at a time again. Not only is it too much money going out for payments, I also have to carry full coverage insurance on them.

 

Thanks for the feedback. Like you said, I agree that what's in your wallet dictates what you can do. I guess what it really boils down to for me is whether or not I can swing the payments w/o having that Magic 4-letter "R" word come into play. I think I can do it, but I might end up eating peanut butter and jelly sandwiches for awhile.

 

Speaking of which, have you ever seen those documentary of how they get your car. They'll have a camera man riding shot-gun with the tow truck driver, come in the middle of the night, at work during the day, it doesn't matter. And if the car is FWD and your parked where they can easily back up to your car they don't even have to get out the truck to tow away the car. Done deal. Keep those payments up

 

Without knowing your personal situation I would say you don't want 2 loans, because a loan is like a monkey on your back. But borrowing money with no thoughts on paying it off are the American way--I can't tell you how many people at work put 20% down on their houses and shortly thereafter went after the 3.99% line of credits.

To give you an example, I want a new car. What I want and what I get are 2 different things. The Volvo XC90 is what I want, and I can choose either $580/mo for 60 mo. or $912/mo for 36 mo. That's with putting 13 grand down. $580 is very affordable, but 60 mo. makes no sense with a car, it's a great marketing tool to get you to buy more than you can afford. You touched upon a key point--your wallet. And what drives that? Your job and current expenses. With the same downpay I could get a new 6-spd accord coupe for about $243/mo for 36 months. Now compare again--$912 for the Volvo and $243 for the V6 Accord--how does one justify the extra $669/mo? Either you got a great job or a great big-shot ego!

Loans are bad people, and should be avoided if possible. Seems like rich parents can make car loans go away, but few of them can make the mortgage go away!

 

That documentary just made me feel THIS much better

 

Yeah, I pretty much feel that way about 2 loan ordeal, but I guess sometimes I fall into that border of a "compulsive buyer" type person. As it stands, the amount of money I owe left on my 2K3 is roughly the same as this 99 5-speed SE I want. Factor this in with that fact that I haven't done my taxes yet, so I didn't get a refund, I'm going to FL in 3 weeks and that's gonna be a good $1500 trip, and I was lookin at Lasik Eye Surgery (another $3K). And all of this would be done between this month and next month!

Come to think of it now.........I might be eating cheese and crackers instead........

 

If it makes you feel better, you can also finance this procedure Or wait for the price to slowly decrease further has it has been the past several years

 

Technically, there are other doctors out there I've been told that charge $1K an eye, but this doctor was referred to me by a friend who was referred to him by his old neighbors across the street who said this doctor was the 1st to open up shop on LI and he's been doing this for 10+ yrs now, blah, blah, blah

If I did get this, it won't have to be financed.

 

I've done it, and I didn't like it.

We thought that I would always get my wife's car after it was paid off, then she'd get a new family car, when it was paid off I'd get it and she'd get a new family car, etc etc etc.

Well, as the family grew, it didn't work out. I didn't want her "family cars" to drive to work. Vans and such. So now, we replace them when they wear out.

Between cars and braces, the mortgage and eating, I'm always paying for stuff.

Save a little, pay a little, save a little, pay a little.