Should I give in??

[DisneyPolve]

DH totaled his SUV about a year ago, which was paid off. With the settlement money, after the loan was paid off, we traded in my gas guzzler and put a large down payment on my van and bought him a reliable car for about 3000. We have been making triple to quadruple payments on my van and should have it paid off in about six months. However, DH now wants to trade in the car and buy something bigger since he transports kids all the time after school. We had plans of waiting until my van was paid off, but DH recently found out the Col. he works with (DH is a JROTC instructor) is not coming back next year and the school said DH will probably be running the program a whole year by himself. Which means a lot more kids to be driving home, since before Col. and DH split the kids. So now I am torn between sticking to my financial plan and giving in to DH request. DH isn't required to drive the kid’s home, but does so because if he didn't a lot of the kids wouldn't be able to participate in the after-school programs because they wouldn't have transportation. Should I just suck it up and deal with it for 6-9 months or keep to me plan?

 

[marlynnp]

Why don't you swap vehicles for a year?

 

[DisneyPolve]

Why don't you swap vehicles for a year?

LOL, good question! Should of mentioned that wouldn't work since I am the primary care giver to our son who has special needs.

 

[Calliaz]

Can he not fit the kids in his car, or is it just not preferred? If they can't fit, I'd be more likely to think about the new cost. If it's just inconvenient, then that changes the outlook.

My biggest concern is liability insurance. I hope you have a really good car insurance with major medical along with an umbrella policy for liability. Since your DH isn't required to transport, if he gets in an accident he's responsible for those kids' medical costs and liability to them for injuries.

 

[buckler]

Do you have added insurance to cover you for medical expenses for all of those passengers in the event of an accident?

 

[DisneyPolve]

Do you have added insurance to cover you for medical expenses for all of those passengers in the event of an accident?

DH drives home only students that has had their parents sign the release form Cadet Command (DH boss basically) allowing them to be transported from school or special events by Col or DH. Our insurance company said our policy covers any passenger in our vehicles as long as they had their own seat belt. Meaning if the vehicle only has four seatbelts but you have five passengers our insurance company would not be covering them. But that’s not what I am asking, legally we are covered. My question is should I make an adjustment to my financial plan to cover a new vehicle for DH.

 

[southtexasmom]

If it were me, I would give in. Your DH does not have to drive the kids home but by doing it he is giving these kids a wonderful opportunity. Yes other peoples children are not your or DH's responsibility but kids need all the caring adults in their lives they can get.

 

[pyrxtc]

I would give in too. You have all summer to look and be ready for a deposit and to have a monthly payment. If you start putting away the estimated payments now, then you'll know what your finances will be in the fall.

 

[SandrA9810]

well you probably have the funds to do it. It might mean that it'll be 6 months longer to pay your car off, cause you'll probably go to half payments rather than quad payments.

Wait as close as you can till the next school year so you have more time to pay on yours.
And there seems to be many deals on 36 months interest free or no payments. That'll give you time to pay yours off, and with major payments, you should not have a problem with interest stacking at the end.
You might've gotten a cheap car, maybe you can still get something for it to work as a down payment.

I think it's a great idea. Just make sure it's roomy enough.

 

[buckler]

You'll need to factor in the added insurance cost for a more expensive/larger vehicle plus the increased cost of fuel.

 

[jessica52877]

I think it is a wonderful thing your husband is doing. If you it would not strap you financially then I think it would be great. You have to look at your happiness and his though. 6 extra months of a payment for years of happiness and satisfaction is a wonderful trade (in my mind) and think of all the children this decision could impact in a good way. I would want to know that is job was secure though.