Used Car Question? (1 Viewer)

[Mudshack]

Gang, I am looking for a little financial advice on a situation I am in. I was just informed that my wife will be receiving her late father's Jeep Cherokee which is so much more than a vehicle to her....it is a part of her father which she wants to keep for ever. The kids recognize XJ's like his as Grampy's truck. She intends to use it as a daily driver, even with 140k on the clock....now she doesn't do more than 20miles a day, and most days she is under 10. It should work.

Here is the question....I want to make a solid financial decision, not an impulse. I drive a company Honda pickup for work, and since having it, we have only had one personal vehicle.....my beloved 1997 LX450. My intent was to keep it as a family vehicle and when it retired, start the mods.

Well......I use the little honda pick-up for everything......the bed is so much easier for moving stuff back and forth from the lease. My wife wants to sell the LX450 and get out from under car payments (12 more months), and just live with the XJ and my company vehicle (which really isn't insured for doing anything personal).

Would you?
1) Keep the FZJ80 as a 2nd personal vehicle and continue using the company pickup for lease trips
2) Sell the FZJ80 and continue using the company pickupfor lease trips
3) Trade/Sell the FZJ80 and get a pickup for weekends and the lease trips.
d) do something off the wall that I is not even on my radar?

 

[sseaman]

Mud, you are in a tought spot, and good luck. I can tell you not having the payment is nice, but you are not adding any new payments other than insurance being a little higher with another vehicle. I think i would keep it, and just know you are not putting alot of miles on it, things could change again and you wish you had it.

 

[Mudshack]

things could change again and you wish you had it.

I know that I wish I didn't sell my SFA 4Runner!!!

 

[bhmmapping]

Can you sell the LX450 and buy and older 80 and a trailer with cash for personal trips?

 

[Mudshack]

spoken like a true cruiserhead.

 

[cruiserruf]

I wouldn't sell it.

1. you use it less, preserve it, whichever way you look at it since you have your honda pick-up and now that your wife drives an XJ.
2. I don't know what kind of condition your LX is, ie mileage, excellent, good, fair, what kind of mods, etc, but i think it would be harder to find 80s/LX in good/great condition, low mileage, etc if you sell yours.
3. a year can go by pretty quick.
4. if you can do it for a year financially then DO IT. otherwise you regret it.
5. it's a GREAT VEHICLE.
6. good luck

 

[Romer]

So, since you drive the pickup and don't really neeeed the 80 why not start the mods now

"Honey, I am so glad you have your dads truck. I know how much it means to you."

"I know what it means to love a vehicle, I mean I hate to tell you I have bcome rather attached to the LX450 and all the possibilities. I see this as a vehicle I could have, make into what I want and have for 20 years. Having it and the Honda allow me to do that.

You get the idea

 

[cruiserruf]

So, since you drive the pickup and don't really neeeed the 80 why not start the mods now

"Honey, I am so glad you have your dads truck. I know how much it means to you."

"I know what it means to love a vehicle, I mean I hate to tell you I have bcome rather attached to the LX450 and all the possibilities. I see this as a vehicle I could have, make into what I want and have for 20 years. Having it and the Honda allow me to do that.

You get the idea

GOOD ONE ROMER

 

[sseaman]

Ken, hit the nail right on the head. This could be the car your kids would want when you pass on years from now.

My 7year old wants mine when she can drive.

 

[Mudshack]

Trust me fellas....I do not love my LX.....I don't "want" to sell it.

Just found out that my company may be making some major changes, and the company vehicle may dissappear. <sigh>

Does it change any of your opinions?

 

[john_eckels]

Ken, hit the nail right on the head. This could be the car your kids would want when you pass on years from now.

My 7year old wants mine when she can drive.

My 9 year old son has already asked for my LX. He recently asked for assurance that I would leave the cool shortbus bumper on it when I gave it to him

 

[bhmmapping]

Trust me fellas....I do not love my LX.....I don't "want" to sell it.

Just found out that my company may be making some major changes, and the company vehicle may dissappear. <sigh>

Does it change any of your opinions?

It sounds to me like you might be leaning towards #3? I don't think there is anything wrong with that, for some people a pickup makes a lot of sense and an 80 is an expensive vehicle to drive and maintain, especially if you are making payments.

Personally, I have had two 80 series, a very nice, not payed for 97, and a not so nice but payed for 92. I really enjoy the 92 a lot more. I was never comfortable modding or working on the 97, because I didn't own it. I was also always afraid that the HG would let go and I would be stuck making payments on a truck that I couldn't even drive or sell.

 

[TX Cruiser]

I vote for D. Something along the lines of an insurance claim and "complete loss" involving the Cherokee comes to mind.

 

[cruiserruf]

Trust me fellas....I do not love my LX.....I don't "want" to sell it.

Just found out that my company may be making some major changes, and the company vehicle may dissappear. <sigh>

Does it change any of your opinions?

key word: "MAY".

if i was you i'd wait until the company actually made those changes and STILL keep the LX. if all else fails...then do you what you have to do.

 

[MadTripper]

Only 12 months of payments left. You've probably paid 36 or more months at this point and it is currently maintained the way you want since it is yours. If you have the storage, I'd keep it. Perhaps turn in the plates and drop insurance until you pay it off (get that storage insurance). This will offset the payment a little bit and you still have it to mod down the road. The previously mentioned idea of selling it and getting a cheaper 80 is a good idea as well but then you don't really know what you'll get into. If your company decides to drop your vehicle, look for a cavalier or something that gets 32 mpg. They sell around here used for 3k to 5K.

Tripper

 

[Mudshack]

MadTripper. Great ideas. I called and got the payoff on the truck and it appears that I got a 5 year note on the vehicle. I can't believe I did that, but I guess I did. The payoff is around $7300 so that makes me into the vehicle for about another 21 months. <gulp>

And where are you in NE PA....I grew up in Williamsport