It seems like car decisions are the topic du jour. we need to decide what to do with our car situation. Right now, this very moment, our cars are costing us nearly $1500/ month. What!
Breakdown:
Yaris: $175/month
CRV: $270/month
Parking: $525/month (notice given to parking spot A, so should go back down to $275)
Insurance: $400/month (also should go down now that Passat plates have been turned in)
gas: $100/month
EZ pass: $10/month (or so)
If we got rid of one parking spot we reduce ourselves down to $1230/ month. We can also bring insurance down to around $300/month...$1130/month. BUT if we get rid of the Yaris, we reduce everything exponentially.
CRV: 270
Parking: $275
Insurance: $250
Gas: $100
EZ Pass: $10
We're *only* at $900/month then. $350/ month savings or $4200/year.
So why don't we just go down to one car? Well, because my husband will get a new job someday, even if it is within the same company. We owe $5000 on the Yaris, and it's financed at 0% interest. We have about 2 more years of payments and it will be paid off. If we sold it, we would probably get $8,000, so we could have $3,000 for a downpayment someday, but another car would probably not be as inexpensive, and I bought this car with the idea that we would keep it for a long time. Plus it's great in the city. If we sold it, and then a year later, or even 2 years later, we needed another car, we would be kicking ourselves because other payments would be higher. And I love my little red car!
On the other hand, if you add up the $3000 from the sale, and the monthly savings, we would be at $7200/year.
The realities of one income are kicking in. I can keep my babysitter, or my car, or my organic food, or our current amount of travel, but I can't have it all, and build any savings! This is so frustrating!
