Well there is good news and bad news...

[Phares]

The good news is I got into ECUs online MBA program for next year. The bad news is I'm going to have to sell the 40 to pay for the first bit. The baby popping out killed the savings so this really is the only way. The house seems to be breaking left and right too so that's where this Falls extra money is going.

My first year will cost around 5k based on how many classes I take. So this is the deal I've made. 5k of the cash will go towards the first year but the rest I can use purchasing an 80 or 100. We were going to trade in the rav4 for a new 4runner next spring but the plan now is to turn the 80/100 into the expedition vehicle for camping etc.

My plan is to advertise the 40 on mud for 14 and on CL for 15k. Thoughts? Too much, too little? Any advice or tips on a quality 80/100 for 10k or less in the CLT or Raleigh area let me know.

This isn't all bad I guess. I think I will use the 80/100 more than I do the 40 but the 40 has a coolness factor to it.

Thanks guys.

 

[bcarney]

A friend of mine sent this link over earlier today, he's now thinking more about a 100 he and the wife looked at, but looks to be a sweet LX450. No affiliation with this vehicle. http://charlotte.craigslist.org/cto/4523256781.html

 

[Phares]

Thanks for the link. I sent an email. Did your friend go look at the lx in person?

 

[CharlestonG8R]

Congratulations on your acceptance to the MBA program! That's awesome news! Sorry to hear that you're selling the FJ40, it's a beautiful vehicle. I just went through your build thread and enjoyed reading about it… Tough decision, for sure… Just a thought, have you checked the interest rates on student loans? None of my business really, but it's not a bad alternative…

 

[Phares]

I have. My wife is up to her eyeballs in student loan debt so I'm not anxious to take on more. If I can't get what I need out of the 40 then I will just hold onto it and look into those loans. We have time so that's a plus.

 

[bcarney]

He didn't get a chance to look at it because he let his wife drive a 100/LX470 after she had agreed to the 80 and she liked the 100 a lot better.

 

[GLTHFJ60]

I'd take out student loans instead of selling the 40 any day. Although debt is a bad thing, student loan debt is probably the second best debt to have after a mortgage.

 

[Phares]

The way student debt is going the government is just going to buy it all up to save the companies. Might not be a bad investment

 

[GLTHFJ60]

I wouldn't care, as long as it keeps helping build my credit score

Between Laura and I, we have about as much student loan debt as our house cost.

 

[GarnerFJ40]

Congrats! I'm right there with you! But, my company's footing the bill!

I couldn't sell my 40's, 55, or 80 to go back to school!

 

[NCFJ]

A vehicle is an asset, in this case if you care for it well an appreciating asset. I would sell a vehicle in a heartbeat rather than take on any long term debt. At this point in my life I have learned that debt is something I want to avoid at all cost. We have a mortgage on our home and one on our investment property and that is it now. I will do all I can not to incur any more.

Sell your 40, get your education, advance in your field, make more money, build an even better 40 down the road. It's just a vehicle.

Good luck

 

[Phares]

A vehicle is an asset, in this case if you care for it well an appreciating asset. I would sell a vehicle in a heartbeat rather than take on any long term debt. At this point in my life I have learned that debt is something I want to avoid at all cost. We have a mortgage on our home and one on our investment property and that is it now. I will do all I can not to incur any more.

Sell your 40, get your education, advance in your field, make more money, build an even better 40 down the road. It's just a vehicle.

Good luck

Kind of how I feel about it. The 5 years plan (hehe) has us debt free with the exception of the mortgage and her ridiculous student loan...

 

[CharlestonG8R]

My wife has had a student loan lingering since before we met. The interest rate is really low, but the debt stresses her out. I was fortunate to not have to pay for Grad School - I don't know that I could have without loans. It sickens me that a public education costs so much. Now, I love The University of Florida, but we pay taxes for education run by the state. It shouldn't cost much to get a public education - it's not private school! Furthermore, technical and business degrees (at the very least) help eventually stimulate the economy. They're an investment in Americans.

I hate to see you lose the 40. I understand why and it will pay off in the end... Congratulations on your decision! I wouldn't have gotten as far in my career without my education, so you're doing the right thing.