Hello, and thanks for reading. I am struggling with the idea that the wife wants to buy a 2012 Jeep Wrangler. I am not asking for advice to persuade her against this folly, as I have exhausted logical arguments with her about practicality, gas mileage, cost, what's wrong with her current car?, etc. What I am requesting is help optimizing the purchase and coming to acceptance of this situation. It's only money, right?
Some of the reasons I am freaking out:
- we don't have enough cash to pay 100%, so I would be borrowing $8-12K.
- just received a bonus that is the majority of the cash on hand, and I had mentally earmarked these funds to pay the remaining CC debt ($6.6K, 0% until Oct15). The idea of redirecting these funds to a vehicle is a major disappointment to me.
- Going to LA from the Midwest for spring break in 2 weeks, and based on past experience, it won't be cheap.
- DD starts college in August, and I have IRA funds to cover but income tax will apply to withdrawls.
Wife has always said she shouldn't have to drive a clunker/rustbucket, and her 2002 Grand Cherokee is rusting at all 4 wheel wells, has had multiple problems in last 12 months which I have fixed (battery, tires (used from CL), cam sensor, crank sensor, new radiator, tie rod end, rear U joint) and am about to fix (sway bar link, 02 sensor code, gasoline smell). Last fall it seemed like something broke every week. It also has a loud but fully functional alternator (been like that for years). Yes, it is getting rough. It brings me immense satisfaction that I have kept it running. She is done with it.
I hope to pay $20K for a Wrangler which we drove and she loved, dealer asking $22K. Vehicle is certified pre-owned, 28K miles, manual, only option is AC, otherwise it is a stripper. Comes with extended powertrain warranty (53 months remaining / 100K total miles). Edmunds says in top condition it is worth $21K.
Anyone been in a similar situation with a spouse? How did you deal?