So today the transmission went out on our 2004 Honda pilot (I know, facepunch). The dealership quoted $6000 to fix. Um, no thank you. We are going to see if we can get any quotes closer to $3000, and then we may consider fixing it.
The other option is get a new(to us) car. We need a vehicle with at least 1200 towing capacity for our pop up camper. Thinking about a 2013 Honda CRV or Mazda CX-5. I'm hoping with trade in(of the pilot with bad transmission) to have to spend less than 16,000.
My question comes to that of financing...
Currently, we have no cash sitting around. However, we have a little over 110k in a taxable investment account from my ESPP purchases over the years. Do I take money out of this to pay for the car? Our do I finance it? If we finance it, we could have it paid off before the end of 2016.
The stock from my ESPP is currently trading close to its 52 week low and I anticipate it's likly to go up in the nearish future.
I'm curious to see what you all think.