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  • Need some input

    I have a bit of a delima. I currently have 4 vehicles (2 trucks and 2 sedans), 3 are paid for and one has 19k left to pay (3 years on a 4 year note). The delima is that one sedan is a 1998 BMW 740iL worth somewhere between $6 to 8k, the motor had to be rebuilt, long story, and I am way into the car than what its worth. Here is my question, do I sell it and take the money and pay off debt or keep a paid for car in the stable. Insurance and tags are negible costs where I live.

    Stand next to me and you'll never stand alone.

  • #2
    Well, the financial answer is stick with paid off vehicles. But that being said, I just went out last week and bought the Mrs a new car. I get her a new car usually every 5 years, but because of recent money restraints her last vehicle, a jeep liberty, has lasted her 8 years. Just something my parents pushed into my psychy, always have a new car for the Mrs to lower the chance of catastrophic failure at the worst time possible. Me, I usually get the hand down vehicle, but this time we are donating the Jeep to her sister whose current vehicle just had an engine failure and they want more to fix it than it is worth. :(

    BTW Love that 7 series pic!!

    Wife's new car:
    Last edited by Klayton; 01-30-2011, 04:03 PM. Reason: added pic of wife's new car

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    • #3
      I bought a new Toyota Yaris in August, (just before the end of the year sale....sigh) and freaked out my daughter when I told her that if TSHTF, I would abandon the new car and head out in the old truck. It's a 1991 Toyota 4x4 with a reman engine in it. Both are paid for, and yes, the insurance is killing me slowly. I needed the car for MPG, (36, vs 14 for the truck) but if it comes down to it, there ain't no way the car can go where the truck can. The bottom line here is what you're comfortable with, and what will serve when you need it.

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