We are about to have a baby in September and we currently share a car...
Buying a 1992 Explorer for $300 from family. (It is this cheap because they are trying to help us out and no longer use the car.) Of course it might need work, but it would almost definitely not add up to the cost of a monthly car payment and monthly insurance premium payment...
OR
Financing a car--almost definitely a used car, but in better condition than this particular Explorer--which requires higher insurance coverage (and therefore more cost per month) than a car we own outright (like the Explorer)?
The Explorer would be primarily for getting to work, which is less than 5 miles each way.
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