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Unread 01-21-2010, 08:53 AM   #31
N5RMQ
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In '05 I bought a New Jeep. I had alot of equity in my Ford truck, low mileage, and got a heap of incentives from the Jeep dealer. I got into a new Jeep about as low as anyone could have. I drove it for about a year and lost all interest, the thrill was gone. I traded it in on a new F-150 4X4 Lariat. Smooth, comfortable etc. Last year I got the feeling I wanted a Jeep again. But thinking back on the other one I was just not ready to commit. A friend at work showed up one day with a used TJ he had just bought. He let me drive it a few days and I knew I had to go back. The biggest obsticle was convincing the wife. Luckly she wanted my F-150 so the search was on. I found a beautiful '05 TJ 60k miles and clean as a new one and in perfect working order. I paid $6k cash or it and love it more every day. The only bad days are in the 2-3 winter months that I can't drive it topless and doorless.
So maybe it is right that you give your Jeep up and maybe in a few years you will try again and all will be right this time. Good Luck in whatever decision you make.

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Unread 01-21-2010, 08:54 AM   #32
mikebigh
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Quote:
Originally Posted by SaxManClay View Post
Last time I checked, you always pay a lot in interest when you have car payments, so you end up paying a lot more than what you originally planned to.

But what do I know. I'm only 22, in college, with no money. I figure if I wanted to get a nicer Jeep when I'm older with a job, I might make payments? Thats a big might though, considering I always here stories like this one about not being able to make payments later on in life.
Exactly. 22, and your a finance guru. If you buy a car in 10 years, youll be old enough to realize why it will cost you less to make payments.
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Unread 01-21-2010, 09:04 AM   #33
RebuildRookie
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Quote:
Originally Posted by Metaloholic View Post
Has anyone had second thoughts about buying their Jeep?

I have owned my '07 unlimited x for 3 years now and love the Jeep but is it worth it financially?

Do you really think a light truck will be cheaper, I doubt it. This seems like it happens alot to JK owners for some reason, I guess with us YJ and CJ owners, we put work into fixing things so it kinda becomes part of us. The thrill has been here since 93'.

I am paying $300/mo for car payment,
Better than most folks

$150/mo for insurance(chicago sucks),
Probably little higher than most folks, but check the insurance cost on a light truck and compare

$200/mo on gas.
Probably the same or better than most folks

Seriously $650 a month just to drive this heep????
Most people that I know pay more, my wifes brand new maxima cost us $650-700 with Ins, payment, and gas. And thats on a discount lease through my company.

I also have 45,000 mi and will need tires, brakes
Typical time for maintenance

and who knows what else soon and I still owe $14,000.

How do everyone else justify the ridiculous cost of owning a new Jeep?
Its not just jeep, its any new vehicle.

I am seriously considering buying a fuel efficient light truck,
Do they really make one. JK

like a 4 cyl ford ranger just to be more practical.
It will fall apart on you in 3 years, and you still owe money

I know it's blasphemy saying something like this on Jeep forum but I could use the advice.
Just my opinion, but i am in the automotive industry
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Unread 01-21-2010, 09:10 AM   #34
Hesher420
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Quote:
Originally Posted by SaxManClay View Post
Last time I checked, you always pay a lot in interest when you have car payments, so you end up paying a lot more than what you originally planned to.

But what do I know. I'm only 22, in college, with no money. I figure if I wanted to get a nicer Jeep when I'm older with a job, I might make payments? Thats a big might though, considering I always here stories like this one about not being able to make payments later on in life.
Quote:
Originally Posted by mikebigh View Post
Exactly. 22, and your a finance guru. If you buy a car in 10 years, youll be old enough to realize why it will cost you less to make payments.
^2 - My thoughts exactly.

With ample planning and an understanding of what you are getting into, you shouldn't get to the "I can't make the payments" point. Just as the OP pointed out, its not that he can't, Its that he does not want to have to anymore.
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Unread 01-21-2010, 09:12 AM   #35
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I sold my CJ7 a couple of years ago out of financial necessity. I knew I'd miss it and I hated to sell it. I sometimes sit alone in a dark room and sob.

As soon as I have some extra money, I'm going to buy the first affordable CJ7 I can find that has a good frame and body. I'll just park it the garage until I can afford to build it. The prices on these things just keeps going up. If I wait much longer, I'll never be able to buy another one.
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Unread 01-21-2010, 09:15 AM   #36
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I got my jeep used, We got a killer deal because well my dad's friend wanted to "keep it in the family", new ones are expensive, but mine is going on 10 yrs. As your jeep ages it will keep its value more than most anything.


While it is expensive, so is EVERYTHING. my sentra cost a ton in gas. You just have to realize where you are going and not make as many little trips. Insurance, take a few courses, it will drop everything down.
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Unread 01-21-2010, 09:16 AM   #37
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Quote:
Originally Posted by SaxManClay View Post
Last time I checked, you always pay a lot in interest when you have car payments, so you end up paying a lot more than what you originally planned to.
If you think a vehicle is bad for interest, you oughta try buying a house. $20,000 car you will pay appr. $23000-$25000 total in payments. A $100,000 home you will pay appr $250,000-$300,000 over 30 years.

A house is 100x better investment of course, but if its the interest that bothers you, your gonna have to get use to it if you borrow money to buy things.
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Unread 01-21-2010, 09:21 AM   #38
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If all you are looking for is a vehicle to pound pavement with as cheaply as possible, a Jeep isn't it. However, if you like to wheel, if you are into the Jeep lifestyle, and if you like to learn to work on your own vehicle (which saves mega $$), then there is no better vehicle than a Jeep.
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Unread 01-21-2010, 09:22 AM   #39
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Also, if you're looking for better gas mileage, be careful what you replace your jeep with. I got an '01 4wd Ranger with the 4.0L engine, standard tires, etc. thinking I'd get "decent" gas mileage. It gets MAYBE 1mpg more than my '83 CJ7, with 33" tires, 4wd, 4.2 bored 40 over, with the Weber "performance" 38 DGAS carburetor.
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Unread 01-21-2010, 09:27 AM   #40
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I'm in the same boat but not with a jeep. Me and my wife bought a 2004 F-150 superscrew just about 2 years ago. We pay $427 in payments, $1000 year for insurance, $200 bucks a month for gas maybe more.

When we bought our truck it was only in about 3 months the value dropped almost $9000. We now owe more than what the truck is worth. We also had to replace the engine once already for failed lifters that was about $3000.
So at this point we can't trade it, car companies were only offering me anywhere for $3000 to $5000 for a truck that we paid $21000 2 years ago.
We love the truck but worst decision we ever made.

At least I got my cheap YJ that I don't pay for and has actually been pretty reliable nothing major with it in the past year of me owning it.


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Unread 01-21-2010, 09:29 AM   #41
mdywglr4x4
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I hate car payments. I really do. When I was 17 my dad handed me the keys to a 97 TJ Sahara and a payment booklet. Happy Birthday and if you miss a payment it goes up for sale. This worked out decently well and my dad knew what I made and since I was at home I could pay for Jeep, insurance and my gas. It wasn't great though as others took weekend trips and had 'more fun' or could really modify their cars because they had extra money.

Fast forward and 10 cars later and I try my hardest to not pick up a car payment. I hate it and the Jeep and all my other cars have been paid for with cash. None were huge purchases but not paying 15K for a 10K car is much better. I know what I have and when I have it. I won't lose my job or wife loses her job and now we are staring at a payment we can't afford and need to fire sell it.

I honestly think the thought in America is that everyone deserves and is owed a nice car(for the most part). They deserve a nice car and because of this have no problem signing on the dotted line to pick up a car payment. Yes it is HARD to save but buying a car should be a reward. Buying a house should be a reward(and that actually goes up in value). It seems to be getting worse and worse as the time goes on. I have friends that 'want something nice' and they are 20 and commute to community college and their parent's dime... What do they need that for?

OP it sounds like you do not like the situation you are in. Maybe consider selling and getting a TJ or something different. A light truck isn't going to do you much better I do not think.
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Unread 01-21-2010, 09:29 AM   #42
frankkl
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This is why I drive an XJ. All paid up. Yeah i put some money in in mods but its all money I have, no credit!

I really like the JK but 30000$ for what a little more space. No way!


The cheapest car you will ever find is the one that is paid. Go I love aving no car payment...
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Unread 01-21-2010, 09:30 AM   #43
theducksguts
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I think your payment is the problem. Sell the thing and get yourself a little beater car to drive in the winter. Purchase YJ or XJ, lift, wheel. Enjoy without payments.

not everyone has or needs a car payment.
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Unread 01-21-2010, 09:31 AM   #44
LJinNOLA
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Quote:
Originally Posted by RebuildRookie View Post
If you think a vehicle is bad for interest, you oughta try buying a house. $20,000 car you will pay appr. $23000-$25000 total in payments. A $100,000 home you will pay appr $250,000-$300,000 over 30 years.
You must have like a 10% rate on your mortgage, time to refinance.

In all things (car, house, clothes, whatever) be sensible and buy what you can afford. I bought a beater for $1,700 and drove it for 3 years while saving for the Jeep that I paid cash for. And I sold the beater for $700.
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Unread 01-21-2010, 09:38 AM   #45
mooseknuckle
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Quote:
Originally Posted by SaxManClay View Post
Last time I checked, you always pay a lot in interest when you have car payments, so you end up paying a lot more than what you originally planned to.

But what do I know. I'm only 22, in college, with no money. I figure if I wanted to get a nicer Jeep when I'm older with a job, I might make payments? Thats a big might though, considering I always here stories like this one about not being able to make payments later on in life.
It's not always stupid....if you can get a 0% loan, or at the time in 2004, I got 1.9%....why lay all the money out at one shot and rob yourself of any interest earnings?

For arguments sake, and with no real math calculations, if your money earned 5% and you had a 2% loan, but you decided against payments, and paid all the money out, you'd cost yourself 3% of interest on your money if you would have made payments....(roughly, it would actually be a little less).

But you can see where there are instances where making payments is the better option.
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