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Started By
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Wife Getting a Company Car
Posted on 2/9/17 at 12:45 pm
Posted on 2/9/17 at 12:45 pm
Wife got a nice promotion a couple of weeks ago, and is getting a company car. We have two cars, both with notes, and will have to get rid of one and we're struggling on which one to get rid of. I don't see the difference much in a financial sense, so I'll ask y'all if I'm missing something.
One is a 2011 Ford Edge. We owe about $5,000 on it, and it has 105,000 miles on it. Current note payment is $290, but we always pay $500 per month. Interest rate of 2.9%. It is her primary car right now.
Second is a 2012 Subaru Outback. We owe about $8,000 on it, and it has 41,000 miles on it. Current note payment is $220, but we also pay $500 per month on it. Same interest rate as the Ford. It is my primary car.
I think both have enough equity in them so we could pay off the other with the sale proceeds, though we're not in quite as good shape on the Ford. But rolling over the $500 we put towards the Ford to where we're putting $1000 towards the Subaru I think we'd have it paid off pretty quickly.
Anything y'all see that I'm overlooking? My preference is to keep the Subaru because I love it, and it has less miles. Wife doesn't like the Subaru and wants to keep the Ford. There's always the option of trading both in. I'm guessing we have around $11,000-$15,000 in equity, combined. Would rather not take on a new note though being so close to having both paid off.
One is a 2011 Ford Edge. We owe about $5,000 on it, and it has 105,000 miles on it. Current note payment is $290, but we always pay $500 per month. Interest rate of 2.9%. It is her primary car right now.
Second is a 2012 Subaru Outback. We owe about $8,000 on it, and it has 41,000 miles on it. Current note payment is $220, but we also pay $500 per month on it. Same interest rate as the Ford. It is my primary car.
I think both have enough equity in them so we could pay off the other with the sale proceeds, though we're not in quite as good shape on the Ford. But rolling over the $500 we put towards the Ford to where we're putting $1000 towards the Subaru I think we'd have it paid off pretty quickly.
Anything y'all see that I'm overlooking? My preference is to keep the Subaru because I love it, and it has less miles. Wife doesn't like the Subaru and wants to keep the Ford. There's always the option of trading both in. I'm guessing we have around $11,000-$15,000 in equity, combined. Would rather not take on a new note though being so close to having both paid off.
Posted on 2/9/17 at 12:50 pm to The Spleen
quote:
Wife Getting a Company Car
quote:
2012 Subaru Outback
quote:
It is my primary car.
quote:
My preference is to keep the Subaru because I love it, and it has less miles
I think the answer is obvious.
quote:
Wife doesn't like the Subaru and wants to keep the Ford.
Oh nevermind.
Posted on 2/9/17 at 12:54 pm to SLafourche07
That's my struggle, because financially speaking it looks like about a wash either way. Though I can argue future maintenance & repair costs would likely be less on the Subaru.
Posted on 2/9/17 at 12:55 pm to The Spleen
Sell your extra car to agalloch.
Posted on 2/9/17 at 12:59 pm to The Spleen
Subaru is a no brainer. Better resale, less miles, lower note. What the frick is your wife thinking?
Posted on 2/9/17 at 1:01 pm to The Spleen
What if you took both to trade and compromised (model-wise) on something new?
Posted on 2/9/17 at 1:03 pm to lnomm34
quote:
What the frick is your wife thinking?
She calls it the Lesbianmobile, and it has less room than the Ford. We have 2 kids, and she's concerned with room when we go on a trip. She just needs to learn how to pack lighter.
Posted on 2/9/17 at 1:05 pm to The Spleen
quote:
She just needs to learn how to pack lighter.
Let me know how much you want for that Subaru.
Posted on 2/9/17 at 1:07 pm to CoachChappy
quote:
What if you took both to trade and compromised (model-wise) on something new?
That is on the table, and may be what we end up doing.
I really just want my Subaru though. I think she'll relent.
Posted on 2/9/17 at 1:09 pm to The Spleen
Have fun driving your Edge.
Posted on 2/9/17 at 1:35 pm to Chris4x4gill2
Which is fine. I like the Edge just fine. I just like my Subaru better.
Posted on 2/9/17 at 2:22 pm to SLafourche07
quote:, so true
SLafourche07
Posted on 2/9/17 at 3:44 pm to The Spleen
quote:let me know how this turns out.
She just needs to learn how to pack lighter.
Posted on 2/9/17 at 3:53 pm to The Spleen
quote:
2011 Ford Edge
quote:
Current note payment is $290
Posted on 2/9/17 at 4:09 pm to The Spleen
quote:
She calls it the Lesbianmobile
Aren't all straight guys lesbians?
quote:
and it has less room than the Ford
Didn't get the roof rack, huh?
quote:
We have 2 kids, and she's concerned with room when we go on a trip.
It's a wagon. If you need more room than that, get an SUV.
quote:
She just needs to learn how to pack lighter.
Good luck with that.
Posted on 2/9/17 at 4:30 pm to rocket31
Yeah, we bought it used towards the end of 2014 and didn't put much down. Not our best financial decision, but whatever. The Expedition she was driving had become a money pit.
Posted on 2/9/17 at 4:34 pm to The Spleen
quote:
She calls it the Lesbianmobile
I think this is more directed to the Subaru Forresters, not Outbacks. Outbacks are very common out west (mountains).
Posted on 2/10/17 at 9:13 am to The Spleen
Subaru is the easy answer.
The struggle is real.
quote:
Wife doesn't like the Subaru and wants to keep the Ford.
The struggle is real.
Posted on 2/10/17 at 9:23 am to The Spleen
Tell your wife to nut up and keep the Saburu.
Those lesbian mobiles are fantastic vehicles.
Those lesbian mobiles are fantastic vehicles.
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