We need a new vechile of some sort, our van needs a repair that costs more then the van is worth. We were hoping to wait until this summer to buy a new one but the van had other thoughts.
Here is the dilemma, I would like to replace the van with another van but we don't want to spend that much money now because we may be moving and would like to use the $25-30K that the van would cost for a larger down payment on what ever house we buy.
We were thinking of getting something like a used Toyota Corolla, maybe $5,000-8,000 or so. This could then be a third car for when the kids start driving in a few years. We would then get a new van or what ever for me.
If we don't get a van, we only have cars that seat 5 people and there are 5 people in our family and I do a LOT of carpooling, so that would have to stop.
One thought is to use our unused Home Equity line of credit to pay for a van, see what happens with DH's job (since the interest we would pay is tax deductible and it would only be for a few months), we will hopefully know in April, then if we don't move, pay off the line then since we won't need it for a down payment. If we do move, then we would pay off the van and have less for a down payment for the house, which is ok, but that extra down would be nice.
The Corolla or something like that, gas would be less expensive and with the amount of $$$ DH is spending on gas, that is good. I still come down to we only have cars that seat 5.
What to do, what to do? We probably need to buy something this weekend since our van isn't really fit to drive any more.
Oh, the used vans I have found that would be in a similar price range as the used Toyota have well over 100,000 miles, not a consideration.
Here is the dilemma, I would like to replace the van with another van but we don't want to spend that much money now because we may be moving and would like to use the $25-30K that the van would cost for a larger down payment on what ever house we buy.
We were thinking of getting something like a used Toyota Corolla, maybe $5,000-8,000 or so. This could then be a third car for when the kids start driving in a few years. We would then get a new van or what ever for me.
If we don't get a van, we only have cars that seat 5 people and there are 5 people in our family and I do a LOT of carpooling, so that would have to stop.
One thought is to use our unused Home Equity line of credit to pay for a van, see what happens with DH's job (since the interest we would pay is tax deductible and it would only be for a few months), we will hopefully know in April, then if we don't move, pay off the line then since we won't need it for a down payment. If we do move, then we would pay off the van and have less for a down payment for the house, which is ok, but that extra down would be nice.
The Corolla or something like that, gas would be less expensive and with the amount of $$$ DH is spending on gas, that is good. I still come down to we only have cars that seat 5.
What to do, what to do? We probably need to buy something this weekend since our van isn't really fit to drive any more.
Oh, the used vans I have found that would be in a similar price range as the used Toyota have well over 100,000 miles, not a consideration.
