Financial mistakes, I blame it on wife, need logical advice.
Sadly this is pretty embarrassing for me to say because I am usually very good with making financial decisions. It seems that I've been blinded by greed, stupidly and my wife. Don't get me wrong, I love my wife but she has the ability to presway me to do stupid stuff because I love her too much.
Let me give a little bit of background info on this situation. In 03 I bought my first new car, a 2003 Nissan Sentra Spec V. I loved that car and the power, just hated the shitty nissan reliability. The car had many recalls and I had to take it to the shop to get it fix under warranty too many times. In Dec 07, I just gave up and traded that car for a 08 CRV. I picked the CRV because I wanted something to fill my need to go outdoors and my wife's logic was something safe for her and the future baby that we been talking about. Also the car was reasonably good on gas for a SUV. Being a nice guy that I am, I gave the new car to my wife for her to drive daily and I took her car a 04 Corolla. My plan was to sell the Corolla and use some of the money to pay off my credit card(wedding bills) and buy a cheaper car a Prelude. Well I bought the prelude already and now I have 3 cars. I really hate driving the corolla so I am in the process of trying to sell that car since I don't want to pay insurance for all 3 cars.
So far everything is fine but there are some problems. My wife works pretty far away. About 100 miles away. So from Sun-Wen, she goes to work and stay at her parent's house then come back on Wen night. Also at her work she needs to drive her client around everyday. In a way it is pissing me off that she is driving the new car and adding up A LOT of milage on the car. We got the car in Dec 07 and the car has about 8,000 miles on it! Also the price of gas isn't helping either. Another problem with her job is that they pay OKAE only. I mean if she lived local the OKAE pay would be fine, but it is not worth driving 100 miles every week for that job. She tried to get a local job but refuse to work in retail.
1)
The best thing to do right now is for her to drive the corolla because it is really good on gas. For a while she was driving the corolla instead of the CRV. But a month ago when I really got serious in selling the Corolla, she took the CRV back. The draw back with her taking the corolla is that she will add more mileage to the corolla and lower the value of the car. The car already has lots of mileage for an 04 because of her(70k).
2)
Another idea that I had was to "park" the CRV and not drive it. I take the prelude and she takes the corolla until she finds a job that is local. After she gets a local job, she can drive the CRV and we will try to sell the corolla again. The problem with "parking" the CRV and not driving it is that I think I still have to pay for insurance on it. Since the car is not paid off, I don't think the bank will allow me to not pay for insurance on the car even if I don't plan to drive it.
3)
The last option that I can think of is to sell the CRV and just take the lost, about $7,000 or so that I am expecting if we try to sell the CRV right now. My reason for this is because out of the 3 car that I own, this car use the most gas. And if I sell it, I won't have any monthly payment for the car to worry about. I really don't want to do this because I really love the CRV even though I hardly get to drive it anymore.
I know I typed a lot on this post. It is 1am right now and I can't sleep because this keeps running through my mind. I think I know what I need to do bu it is really hard to do it because I don't want to hurt my wife.
If anyone has any commons or any better ideas please jump in.
I have one question for anyone who can answer it, it relates to #2. Do you know if you can not have insurance for a car that you still owe money on even if you don't plan to drive it?
^ As far as #2 is concerned. Check the conditions of your loan. I'm guessing that your lendor has a bunch of requirements as far as you providing a certain level of insurance on the car for the duration of the loan.
If it's going to be non-operable... If you owned it, I'm thinking you wouldn't need insurance as long as you listed it's condition when you re-upped your registration. But I bet your state's DMV website would be a better place for those types of answers.
Don't spend more than you earn. Sell the corolla, make her buy the gas for the CRV.
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If the Prelude's paid for, dump the insurance and park it.
Get your wife to switch back to the Corolla, and you get
the CRV. BTW...70K "ain't nothin'" on a Toyota.
get the wife to work closer to home. sell the rolla or the prelude. i think 3 cars is too much for you 2 already. dont blame the wife totally but make a compromise for her to get a better job.
well you gotta make sure the wife is always safe, so give her the CRV and leave it at that. Sell the prelude or the corola and then pay some of them bills.
if you are still thinking baby in the future the CRV will be needed.
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well you gotta make sure the wife is always safe, so give her the CRV and leave it at that. Sell the prelude or the corola and then pay some of them bills.
if you are still thinking baby in the future the CRV will be needed.
x2. keep the lude and sell the corola to pay some bills. and just work with the wife on getting a job closer to home. till then let her rock the CRV. plus, it a K24 motor....itll run forever.
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Here is an update on what has happened. I sold the corolla and she is still driving the CRV. Today when she went back to the bay area, she took the Prelude because she is feeling the gas price on the CRV.
I really wish she would just quite that stupid job that she has in the bay area.
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You need to put your foot down, if you don't you wont have shit but bills 5 years from now and a baby might come then what? Tell her to start looking for another job if this marriage is going to work. Are you renting or owning a home?
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sorry to say but dude you sold the car that was the worth most. you should have kept the corolla for yourself and drove everyday. Should have sold the Prelude and CRV and got Honda Fit. With all the gas prices so high esp. in so.cal you would have been. maybe you should try to craigslist for CRV or something.
there are 2 answers to your insurance question. Your lein holder will require you to maintain coverage on your vehicle as long as you are making payments for it. If you choose to drop your own coverage, the LH will purchase their own and roll the cost into your monthly payment (bad option). If you choose to park the CR-V, you can reduce your insurance bill by placing the CR-V in "storage", basically there will be comprehensive coverage only on the vehicle. As long as the vehicle is parked and not being driven, that is the only coverage you should need (Storage conditions usually require the vehicle to be secured in a garage). That will reduce the cost of insurance for the vehicle, while still providing coverage that your LH requires. Remeber though that if you do drive the CR-V again, you will need to contact them to replace your liability and collision coverages, otherwise if you do have an accident, you will be out of pocket for damages. Obvouisly check with you insurance carrier, as they will be able to let you know what they can do for you. Don't be afraid to ask what options are available for your policy, rememeber, you are their customer, they want your money.
As far as the solution to your entire problem, you could ask your wife to consider finding a job closer to home (BTW, most insurance policies exclude business use, which means if your wife has an accident while she is transporting a patient/client, your ins company will deny you coverage). If you rent, you could consider moving to a location the is more central between both your jobs, helping reduce the mileage on the CR-V (although not reducing your fuel cost, as you will be driving more).
You could ask your wife if the company she drives for reimburses for mileage driven on the job. she could start tracking her mileage & expanses and ask to be re-paid for what she is spending to drive patients/clients. She should also inquire as to whether or not they would be willing to supply her with a company gas card, or even a company supplied vehicle for when she is on the job. Depending on your job, you might also want to inquire a transfer to a location closure to your wife job, reducing cost of fuel and insurance, as your commute length also plays into your premium charges. Good Luck!
and Remember, a wise man once said "Women, can't live with them, can't shoot `em!" - Tom Arnold, True Lies
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hey where are u located maybe someone on here can help u find a local job for your wife that isn't retail. Also, maybe she likes the drive cuz she gets to see her parents on a regular basis, u know if that's the case ur gonna have to visit them more often
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