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Posts tagged with: totalled car

Another Car – Need?


We’ve been a one car family for several months now. It’s really not been too bad.

You  can read about when Sea Cadet totaled his car the day I picked up our new to us car. We were a two car family again for about 1 hour.

Sea Cadet in his fanny pack t-shirt my sister sent him for Christmas.

Since then, I’ve had to drive him everywhere and lost my help/backup for getting the younger kids to their sports.  But I’ve saved a lot on no extra gas for him.  After the wreck, he got a part time job within walking distance and as December he is paying $25 per week towards our car insurance. (I tried to cancel his insurance, but as long as he has a license he must remain on the policy.)

He’s had a GREAT attitude about all he’s had to give up as a result of the car loss. Really great! And I would really like him to have a car again. Not just to take some of the pressure off me, but to give him some freedom again.

Cadet’s Responsibility

This is my thoughts, I am really interested in your feedback on this.

  1. Cadet get a job he can walk to and work steady hours – check!
  2. He must pay $25 per week towards car insurance (his went up after the wreck and he’s being insured against a much newer car which also affects the rate) – check!
  3. Sea Cadet saves $2,500 towards a new car.

When he has the $2,500 saved. All but $500 will come to me to put towards the purchase of another car. The $500 will remain untouchable to cover car expenses/maintenance starting out.

Purchasing Another Car

At that point, I would do one of two things:

  1. Pay the $2,000 towards our current car, which would leave us with less than 1/2 the original balance. I would then “give” him our current car (2012 Chevy Impala) to drive. And I would purchase another car for me.  The reason this is my first choice is that our current car does not get the greatest gas mileage and I drive A LOT. I would have to either dip into my savings a bit or finance about the same as this car cost me, but I think my interest rate would be lower now (or rather by then.)
  2. Take the $2,000 and find another used car for him, older, cheaper insurance. I bought his 1996 Honda Accord for $1,900 so I assume I could get a slightly newer one for $2,000.  We’ve put $1-2,000 in it over the last several years. (I bought it when the twins were 15.)  Thinking of the cost of the car, probably maintenance over the next couple of years, this car would cost just about 1/2 of option #1 in my mind. But would be cheaper insurance wise.

There are lots of other considerations, cost of insurance, etc. but these are the basics.

But then I go back to, is this a need or a want? Right now, it’s probably a want. We can make it work with one car. It’s not always comfortable for either of us…

  • He must stay at school all day 7am-9pm instead of getting to go home after classes;
  • Just call me chauffeur, I drive to all his activities and the kids activities rather than him taking on some of that;
  • I pick him up from work when he works late because it’s very cold and for safety and so on.

I must caveat this with, I anticipate saving $2,500 will take a minimum of 3-4 months if he is super diligent. This is not something I am taking on now. Just thinking down the road.

Tell me your thoughts?

Totaled Car but So Grateful


As I mentioned in yesterday’s post regarding my New Debt and New Car, we have gone just at 8 weeks with one car. It has been hard, but we made it through and no one missed any commitments or activities or work!

Sea Cadet got up most mornings and took me to work, and then returned to pick me up. We were able to borrow my Grandmother’s car most evenings when Gymnast had practice, and I was able to find a steady ride Princess to youth group (when Sea Cadet is in class and I am an hour away with Gymnast.) You can see, it’s been a bit of a juggling act.

Needless to say, we were all really grateful when we unloaded our new to us car from my Uncle’s trailer Saturday morning on our way to drop Gymnast at practice. But within minutes of his drop off, that all changed…

1996 Honda Accord

Sea Cadet ran head on into a car turning left. It was his fault. The car is no longer driveable. Thankfully, both drivers (no passengers) walked away with very minor injuries, nothing broken. It could have been ALOT worse. Princess and I were right behind him when it occurred. I am so glad he didn’t have to go through what can be a very scary process alone.

His car is totaled, but we did not carry comprehensive insurance on it, so there is no replacement help. Thankfully it was paid off. (Our liability insurance will take care of the other driver’s damage and medical, thank goodness for good insurance. Thanks, USAA!)

Once again, we are back down to one car. But I am so grateful that this wreck was not worse! This will definitely have financially implications, but haven’t had time to wrap my head around them all yet. Right now, just figuring out how to get him to all his obligations as I am not quite ready to turn over my new car to him.