Got a big decision to make

sidewayskj · **Posted:** Tue Sep 09, 2008 12:29 pm

Okay here is the deal I am working a good job and want to buy my first house have 2 kids and wife so it has to be done soon. I have 2 years left on the kj loan and thinking about wiping the $400/month payment to use it towards the house in the mean time till I get settled and used to the bills of owning the house. It will be moving out to ontario niagria falls so I think it is worth it. The deal is that I will be going down to just the van and being jeep less will drive me nuts. I make good money and after being in the house for a year I will have enough money to buy a used tj cash no problem but don't really know if I want to go the tj route just for the fact of 2 doors and kids but I am only home 10 times a year for 12 days (camp job). So should I keep the kj and stick the payments out and be house poor for a little or just let it go to wipe out the payment and pick up a tj or kj later date, maybe even get a 2 door jk in a couple years. I think selling the kj to get into the house and have easy payments is a easier life then have the $400 payment and buy the house and be tight (keep in mind I only come home 10 times a year). Any advice would be good I'm sure there are a few of you that may have been in this deal in their lifetime.

Chief BK · **Posted:** Tue Sep 09, 2008 12:37 pm

This sounds all too familiar. You are the only one who can give an accurate answer my friend.

I will offer timeless advice...Family always comes first.

Good luck and have fun in NF.

jsc7002 · **Posted:** Tue Sep 09, 2008 1:15 pm

Chief BK wrote:

This sounds all too familiar. You are the only one who can give an accurate answer my friend.

I will offer timeless advice...Family always comes first.

Good luck and have fun in NF.

X2

jeepmedic46 · **Posted:** Tue Sep 09, 2008 1:53 pm

Family does come first indeed. Good Luck

sidewayskj · **Posted:** Tue Sep 09, 2008 2:08 pm

Yes it does, have the kj till next year then what is owed on the loan vs sale price i should make out okay and move out east. I know family comes first and I can buy a house and keep the kj just money would be tighter than if I didn't have it. I think I will sell it when the time comes and try to pick up a used jk out of the states when time is there. For now I still have the kj for a year and wheel it then sell it. I knew the right answer but wanted to see if anyone would change my mind but apparently the kj has to go.

jeepmedic46 · **Posted:** Tue Sep 09, 2008 2:12 pm

That is a hard decision indeed

dirtykj · **Posted:** Tue Sep 09, 2008 2:15 pm

Questions you should ask you and your wife::

1. Will my job be mobile?

2. If I got fired / laid off / terminated / quit, will I find similar paying job in short amount of time?

3. Do I have cash / cash-equivalents to cushion me for 6 months of no income?

4. What's my DTI ratio?

5. What are the numbers for rent vs PITI?

6. Will I be straining to make PITI? Stress can break marriages ...

7. Do I have cash reserve for unexpected major repairs?

sidewayskj · **Posted:** Tue Sep 09, 2008 4:11 pm

Yea without the jeep payment is living really well with a good amount of extra money around to take on any added expense. With the jeep still some good money at the end of the month to help out but not near as much without.

KW AV8R · **Posted:** Wed Sep 10, 2008 2:50 am

Only you can make the final decision but here some other things to think about:

If you only have 2 years left on the loan and you plan to keep the KJ at least another year, would it be better to tough it out for one year to have a vehicle paid off, or would it be better to have some breathing room for a year then start over around the same time the KJ would have been paid off?

How much enjoyment do you and the family get out of the Jeep? If a lot, then would it be better to be poor and happy or rich and miserable (or some degree of either option)?

Are you happy with the KJ overall? Would you really prefer a TJ/JK anyways?

How does this decision effect your long-term, mid-term, and short-term financial goals? penny wise or pound foolish?

Wahoo650 · **Posted:** Wed Sep 10, 2008 9:34 am

2 years left @ $400/mo on a 2002?????? You'll be lucky to get pay off for it now, and it's value only drops, which may dictate what you do. If you can't unload it soon, I'd probably keep it until it's paid off. But that's me, I've kept every vehicle 2-4 years after I've paid it off- that's when you get your money back out of it.

Prospect62 · **Posted:** Wed Sep 10, 2008 1:53 pm

Sell it now while it's still worth enough to cover what you owe. Get your house and family situated (more important than any vehicle). Then you can start from scratch with any new vehicle you choose. I'm thinking KK....hehe. Either direction you go, good luck.

And consider yourself lucky to have the option...I owe $11,000 on my KJ that might get me $4500 if I trade it or around $7000 outright. That's the result of being upside down for many years and many vehicles. I'll be paying this one off before I move on...

Tokyojoe · **Posted:** Wed Sep 10, 2008 3:08 pm

Since nobody has covered it yet......

If you are unsure about a TJ, go borrow one and test the family with it. See how things work and the headache of it all.

As all others said, family comes first but can the family live with one vehicle? Is the TJ really worth it for the family use compared to the KJ? Can you handle another year of renting or find a cheaper place to rent for another year or two so you can toss money into a savings account for the down payment later? Can you get rid of the KJ, find an old XJ for real cheap to keep the off-roading fun going and have room for the family?

LIV42DY · **Posted:** Wed Sep 10, 2008 9:53 pm

Family first everything else comes in time. Good luck with whatever decision you make I am sure it will be the right one.

sidewayskj · **Posted:** Wed Sep 10, 2008 10:48 pm

Yea I have a family vehicle already we have a van not my choice but it hauls the kids and does it job so the tj/jk would be a toy but the not 4x4 for a while will suck. My son and I are the wheelers my wife doesn't really want to go thinks it is to dangerous (ps she doesn't live on the edge at all reads and shops that kind of girl). I will just have to see how time will tell but thanks for all the info you guys are great.

jsc7002 · **Posted:** Wed Sep 10, 2008 10:52 pm

well if you decide to lose the KJ be sure to still vist the forum

Got a big decision to make

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