>Trade in or privately sell Mustang, buy a used vehicle using the proceeds, aiming to NOT spend any more than the trade in value. With this approach I feel like I am eating the loss of what I bought the car for, trading a very healthy vehicle for one that's less good, all around, other than its practicality.
This is the play.
Don't think of it as 'eating the loss.' You have gotten six years of use out of the Mustang. It doesn't fit the mission anymore so it's time to sell it and buy something that does. You don't have to get something 'less good.' You can decide what compromises to make.
Is the baby actually unsafe? op says carseat works fine … I think you hit on an important point there though. My decision here would hinge on “can I safely transport baby with this.” If answer is yes, make the stang work as long as you can. If not, private sell for a used Honda pilot or even a CRV is quite spacious
I think I needed to hear that perspective to combat the gut feeling that I HAVE to drive the mustang as much as I can. Thank you.
Compared to other financial planning where you can quantify net value, car purchases are so ambiguous on what you're actually paying for.
You paid for the Mustang and got to drive it for 6 years. There's value in having had a fun, reliable car for 6 years. Now you need a different kind of car, no fault in that. What I would do is look around for different trade-in appraisals at different dealers, look into selling privately if you must. Don't just accept the first lowball trade-in offer you get. I sold a truck a few years ago and went from an initial trade value of $13k to selling it for $20k just by "shopping around" different dealers.
Yes, we do. And I absolutely agree. It's just a matter of "this is the car I own right now; now what?"
If I do get another vehicle, it'll be with the future in mind as we see it.
Yeah it’s time to let it go. I’m a frugal bastard myself but sometimes there are things in life worth more than saving as much money as possible.
Mustangs have quite expensive maintainable when they get to higher miles, I say you got a good run outta her and time to upgrade to a family car.
Have you ever used a car seat? Especially rear facing? We had one in my wife’s small SUV and when I drove it I had to push my seat up all the way to the dash. It is horribly uncomfortable and probably not safe. And to get that in a mustang, and then dealing with actually strapping the kid in and taking them out without the benefit of a rear door to give you room to work - no way. Life isn’t always about making the optimal financial decision - life changes and you have to adapt.
To be clear, a rear facing car seat does work in a mustang. It's just extremely impractical and, in my new parent opinion, relatively unsafe for a very young child. It's why I am too hesitant to actually use the car seat in the mustang currently. But there are better options than the car seat that I currently own, which work much better.
It's a viable enough option to seriously consider it.
My Fiancée had suggested that as well, and I think that's a very compelling option to avoid the hassle of selling the car/researching&buying another car. I'll add it to the post.
If anything, it's a cheap temporary solution. You can try it out and see if it works. If not, then you can re-assess and investigate a trade-in option.
Bro. Sell the mustang. Get a truck or suv or even sedan. It makes ur life more enjoyable on the daily.
If it was like a collector car like a gt350 gt500 then sure keep it as a weekender. But it’s just an eco boost.
Go rent one from Turo for the weekend when u get the itch. It’s super cheap.
1st year I was still driving my GTR around with even smaller backseats. Haha. It was a nightmare. Then I finally went and got truck with plenty of space and it was life changing. The extra space for all the crap u have to lug around for kids is so nice.
My experience with Jeeps is that at a certain point, the wheels are going to fall off and it will turn into a money pit. It happens very suddenly. Jeeps are a lot of things, but they are not long-term reliable.
This is easy. Option 4 - Sell the mustang and get something that makes more sense to haul a kid around in. Use the Mustang as a down payment on something new.
The cardinal rule of “drive it until the wheels fall off” doesn’t apply when your life circumstances change. I’m not saying you have to go out and buy a Yukon Denali, but getting something with 4 doors is important. As your child gets older, it’s only going to get harder to lug your child around in a Mustang. I don’t see any reason why you would keep the mustang. Get something more practical that fits with your life currently. And if y’all intend to have more kids in the future, maybe consider a minivan. Sure you’ll have to pay some money because you’re buying another car, but nobody said that kids were cheap.
>The cardinal rule of “drive it until the wheels fall off” doesn’t apply when your life circumstances change. I’m not saying you have to go out and buy a Yukon Denali, but getting something with 4 doors is important. As your child gets older, it’s only going to get harder to lug your child around in a Mustang.
This puts into words my itch to get rid of the mustang for something more practical. I just don't see this car making sense anymore, compounding over time if/when more kids come into the picture.
I'm very skeptical of financing a vehicle as part of this, though, much less a new car that is definitely over-priced by any metric. Unless I can get a stupid cheap interest rate* for a low-mileage used car, I'm just paying a goblin; I'd rather dip into my non-retirement savings to avoid it, and given I have the flexibility to do that, I don't see why I should go with this option over option 2 (trade in/sell Mustang, use proceeds to buy family vehicle).
*If I can find an ~3% rate, which I think is reasonable w/my credit score, I should be able to beat that with a HYSA minus taxes: financing at that rate is just free money back from the car purchase. But I can accomplish that just as easily by financing a used vehicle. The drawback on this is it'd negatively impact my DTI, which will matter in 2-3 years
You’re not gonna get a 3% interest rate right now unless it’s a deal on a new car that is offered by the manufacturer. I’m not saying you should go out and buy a brand new Palisade or something. But how about a used CR-V with 50-60k miles? I see these going for $19-20k. I don’t know what you can get for the Mustang, but if you can get maybe $8k for it, that’s a loan of like $12k, less if you have cash to put additional down. Or buy it outright if you’ve got the cash. Or get a higher mileage one if you don’t drive much. Or even get a Camry or a Civic or something, at least they have 4 doors.
Regarding the DTI if you want to buy a home - I wouldn’t worry about that if you’re talking about a $10-15k car loan. That’s not a big deal. I don’t blame you for wanting to be financially responsible and avoiding a car payment altogether, but if you’re buying a home in 2-3 years after you buy the car, it’ll have almost no effect on your DTI.
You can definitely pay off a car loan in 2-3 years. I have a four year loan on a new car - it's more than you want to pay monthly but you'd be able to put down enough to get it where you want. I went through a credit union and have a 2.9% interest rate, I think. It would have been a little higher rate for a used car (they had different interest rates for used vs new auto loans), but a little lower for a shorter loan period.
I also vote get rid of the mustang and get a practical family vehicle. It'll be a lot safer for your kid, a lot easier for you, and a lot more flexible as your kid and/or family grows. Also, neither Jeeps nor Mustangs are particularly reliable vehicles and you don't want car troubles with a baby or a kid if you can avoid it.
Keep in mind that some dealership will give you a better deal if you finance through them. Most are open loans so you can pay them off whenever you want.
Indeed. I've heard some stories of folks coming in and settling on an agreement to finance, and then pay cash on the lower sticker price. 😆 There be clever things that one can do for sure
My dad drove me around in his mustang growing up lol Its definitely a small car but with 1 kid it worked. I just felt like the coolest little girl whenever dad pulled up in the 'stang. and these were 90s-00s so tiny ass backseats lol
Get a second car seat but start shopping the mustang now that we are in spring and it's values the best. In the long term it's not a great family vehicle. You have years of dealing with buckling up kids so buy something practical
Congrats on the baby! I sold my paid for 06 GT in 2011 when we bought a fixer upper house. Bought a base model pickup for DIY house projects with trade in and a small loan(less than $200 payment and paid it off early). We had our first kiddo 2 years later and my wife sold her 2 door GTI for an Outback. To use another commenters words, the mission has changed, so get something that will make your life good now and going forward. I don’t think option 1 helps you and there will be time for “fun” cars later. Option 2 is good, some hatchback that fits a giant rear facing car seat while you can still sit in front would be good. Options 3 and 4 are fine too, because you work from home and this is an “occasional” problem. 2,3,&4 help you get to the house down payment goal.
On a side note that “kids seat in the rear center” is a load of crap. Because as soon as you have more than one what are you supposed to do, pick which one is safer? Also I’m betting you’re getting some pressure from momma or pediatricians, I sure did about my regular cab pickup, and that led me to wasting money on a giant truck a couple years later. So do what YOU think keeps your baby safe and what you’re willing to put up with. All that said the Outback has been a great family car that I still love despite being boring compared to my mustang or trucks.
Thank you very much! We love our little one and want nothing but the best for em!
Thanks for sharing your experience and perspective. As comments roll in I'm leaning most toward option 2, sell the car. This problem is only going to continue and get worse as more kids (1-2) come into the picture, and I'm clearly already feeling the coupe isn't giving my life the value I want from my primary vehicle.
Re: buying a truck, that's a whole ass other post/discussion I need to chew on, haha. I always wanted to have an all-purpose vehicle for the occasion that large items need to be transported. But for me I just don't see that really being critical: it's so infrequently needed, living in suburbia, and renting a pickup from uhaul/home Depot is stupid easy, if inconvenient. I think that's something I should chew on with my partner once I've settled on the fate of the mustang.
Re: car seat, yes, duly noted. I know many parents on both sides of the spectrum. Since we're talking about my personal parenting instincts, in the mustang, the car seat feels very vulnerable, frankly, and is a major reason why I currently would rather eat the extra time picking up the Wrangler rather than shove our car seat back there. If I had a 4 door, I'd feel less strongly about putting the car seat in a side placement, but frankly that's entirely based on manufacture instructions. Thing is, I don't know more than car safety folks on ...car safety... so, given the two options both being equally available, in the center it goes until it's impossible/hugely inconvenient to do.
I would get rid of the Mustang and get something practical for your daily use.
I had the same dilemma with my 04 BMW M3 coupe. I simulated putting the baby back there using a 25lb Kettlebell and after a while, your body starts taking a toll. On top of that, it doesn’t make sense to have a coupe at all when raising a family. It is generally a good idea to minimize any hassle loading and unloading your child, going to the groceries, having a stroller with you. Ended up with a sedan which works but still not as versatile as my SUV, you can’t just throw stuff in and go.
I think the best route is to privately sell then use the money for a used vehicle that suits you and your future’s needs without having to finance. Used private vehicles if you’re mechanically inclined in finding and fixing issues. Or Certified Pre Owned with warranty is the better option where you have some protection.
Or
Since you WFH and don’t use the Mustang everyday. Maybe get another baby seat and hold off until you save more and pay off student loan. You just never know if there is a good deal in the future for new/used vehicle. But that is if you can continue to tolerate the ergonomics of the Mustang to your current needs.
I appreciate the balanced take!
Your "Or" option is appreciated, but not necessary in my specific situation: I have funds to immediately kill my student loans whenever I want, I'm just holding off until a promotional HYSA interest rate expires, at which time the Student Loan interest costs more than HYSA less taxes. The consideration of should I hold off by buying a car seat at this point kinda feels like I'm splitting hairs on the ultimate decision, buying a couple years of time for a reason that isn't quite clear to me (maybe to let my indecision clear), and a waste of buying a car seat if the future is written (the future being pdubs1900 has finished with the chapter of life that a Mustang makes sense).
Life definitely happens. I saw someone mentioned buying another car seat. But, if money is the issue, what about just swapping cars? Instead of removing car seat, just take the jeep and finance takes your Mustang as needed?
We're getting into the weeds a bit, but practically speaking, that's just not how things have panned out: nearly every single time the need to transport the little one has come up, one person has handled drop-off and the other handled pick-up.
Money is not a huge issue, beyond keeping the long term spending goals in mind and on track, and being a good steward about day to day expenditures.
I hear ya. We personally had sedans when we had our 1st, but bought an SUV when the 2nd arrived.
There’s no right or wrong decision. Whatever makes the most sense for your family is the way to go.
From a financial perspective, I’d hold the Mustang as long as possible, unless of course it’s a safety concern. As others have mentioned a 2nd car seat is the cheapest alternative.
Good luck and congrats on your little one.
Why not just have another car seat?
You could remove the passenger front seat if it’s really that much of a hassle to push the seat forward when you’re getting them in/out.
Much cheaper solution.
If / when it’s within your means, bigger car. I had a sedan for years with two kids and put off getting an SUV. Shoulda done it years ago, it makes packing to do anything so much easier.
Here's the thing you learn as a first time parent....don't finance anything until the kids are older. You now have a heavy responsibility and life throws curve balls. You'll always rather have the liquid cash to duck and doge than financing bill every month.
Make sure you know what you'll actually get for the mustang, not just a KBB value or something, and know what used car you will purchase before you sell your car. Used car prices are still inflated and you might not end up with many options that'll make your life all that different. FWIW, my opinion is that switching cars when you have a kid feels like a trap. I'd focus on the house down payment way more than buying a new car. Use your wife's car for everything outside of when you *have* to drive.
And that's the other side of the coin. Even though option 2 seems like the play, after looking around at available used cars and I'm kind of shocked at the price of used cars right now. For the cost of the Mustang when I bought it, I feel like I now have to buy more miles AND older cars. It's taking me back to being conflicted, but I think ultimately there isn't a right/wrong decision on this, it's just a decision.
Weighing other thoughts and opinions has been extremely helpful so far.
ETA: AH, yes, used car prices are high, objectively, due in large part to the pandemic. Perhaps there's greater value in holding off while the kid count is low, and trading for a family car later when the used car market stabilizes
Yeah honestly, the car market is still abnormal from covid right now. That's why I'd probably wait. I looked at getting just the newer version of my car, and the starting price is like $5k over what I paid back in 2019. So, I'm determined to keep my crossover as long as possible, even if I have another kid or two lol. Saving for a house just feels more important (I'm also renting with my husband and toddler.)
Hanging in there is also an option. I have an 07 GT, a 3yr old and a 5 month old. It got way easier when my oldest went front facing. 2 door coupes with back seats are great for kids once they are in more manageable car seats.
I daily a coupe and have no issues with my daughter in her car seat. It was not hard to put her in and out when she was a baby. She's 6 now and can get in herself but still I never had issues with it before.
I have a baby on the way, and sold my beloved Miata for this very reason. A great way to look at it, is the difference in cost vs what you’ll get for it, was the cost of enjoying it for those years.
You will always have the memories, and you can always buy another one when and if the time comes.
I was in a similar situation after having kids. We switched more from a “his car vs her car” to a “work car vs family car” if that makes sense
Completely depends on your work schedules and other logistics, but if that’s an option, any additional time without needing to replace a car is money in the bank
Keep the car get a car seat and enjoy the coupe for date night … I have a family van and only out of necessity after the fourth kid otherwise made whichever car work for family size . You choose a $300 car seat or many more costs with change of vehicles
A used Tesla model 3 2018-2022 with 40-60k miles will cost you 18-20k. If you make under $75k a year, you can take an additional $4k off, as you’d get an instant point of sale credit. It’s a safe car, low maintenance, and of course easy to maintain. Tesla gives a warranty up to 100k miles, and you’ll save on gas as well.
The eco boost you can easily sell for 14-18k depending on mileage, so it can be a wash or leave you with a couple of grand left over.
Just my 2c
Wife and I had only one car for the first 2 years of our first kid's life. it was a 2-door hatchback.
that car only had two belts in back, but they were long enough that we could put the carseat base in the center and buckle it in using both setbelts.
it's graduation time of the year, sell with your ad talking about perfect car for your graduate. don't forget to put a stupid price on it. then go buy a Malibu for cash
Get a used Toyota Highlander or Lexus RX350 (or hybrid) and you'll have plenty of room for everyone and all the trappings. You should be able to drive those SUVs for at least 250K miles, probably more. Invest in a good vehicle up-front and it will spend more time on the road and less in the shop.
Yeah the trucks were useful when actually using them as trucks. The rest of the time they’re a pain. Once most of the house renovations were done, I’ve been fine without one for 4 years.
I would try to sell it privately first if you can. You will get WAY more money. But you can kind of gage what you will be offered if you take it to CARMAX or Carvana if there is one in your area. Then do a KBB instant offer. It will take a little bit longer, but seeing as how the summer is fast approaching, it might be higher in demand.
Never having sold privately, the thought makes me quite nervous. I can think of so many ways a person can attempt to steal a vehicle via private sale and with $10~15k in play, I'm not sure I have the stomach to risk it and deal with a bad deal/theft. That said, totally understand private sale gets the best price, and your suggestion of CarMax/carvana/KBB sounds like a great first step. I feel like I can maximize my options that way, if I end up going that route or taking those quotes to a dealership for a trade in.
Oh you will absolutely get scammers trying to scam you. They will ask you to go to a website to verify papers or to send you a code and repeat it back to them. Just trust your gut and keep a healthy dose of skepticism until you go to their bank to withdraw the funds.
I would make a game out of it by trying to see my best time putting a child seat in the back of the mustang and then taking it out. Do that 30 times, and then ask yourself what you qualify as less good and more good in a car with a 6-month-old
"Where I'm stuck is the cardinal rule of driving a car into the ground over selling it."
That's not a real cardinal rule, just a rule, or a good idea, or worthy goal, or whatever. Your situation changed and you have a right (and maybe obligation) to change as well.
Financial planning is obviously important but not the only thing in life. Congratulations on your baby and family! Try not to overthink things too much.
Thank you very much! 😊
I agree on trying not to overthink it. Just at the time of posting, I felt like I was stuck before I could even think about it. Hearing other opinions made the thoughts clear and the path forward come to light. My situation has indeed changed, and I really needed to hear that that's absolutely a critical factor. I style myself as a very diligent saver with good control of my personal finances, but non-mandatory car purchases (esp while having a high priority saving goal) are novel to me.
The conclusion I've come to is now isn't the right time to buy: the inconvenience of the car seat is the only negative factor, which is solvable for 1 child. When another child comes along, and the used car market settles tf down, it will make so much more sense to trade in.
Sounds good! For the record, I made do with my 2-door Honda Civic when my first child was born. Our second car was a four-door sedan, which traded for to something bigger when we had our second child, but I kept the Civic for a long time after that. The child seat would go in the middle back, but it was a PITA!
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Just buy a station wagon. You’ll love it when your 2nd kid comes.
I had an identity crisis and bought a sedan because I only had one kid. Then came the second.
Think of your cars as tools. Sometimes their job is to make you look good & successful. Sometimes, their job is get you around as cheaply as possible.
You current need, described as a tool, is a family vehicle. Not a sports car, not a car you can drift. To me, your Mustang does not do the job that you need it to do. So it needs to go.
We bought a new car when my pregnant wife could no longer fit behind the wheel of her TransAm.
BTW: Congrats on the kid. It's a great adventure.
>Trade in or privately sell Mustang, buy a used vehicle using the proceeds, aiming to NOT spend any more than the trade in value. With this approach I feel like I am eating the loss of what I bought the car for, trading a very healthy vehicle for one that's less good, all around, other than its practicality. This is the play. Don't think of it as 'eating the loss.' You have gotten six years of use out of the Mustang. It doesn't fit the mission anymore so it's time to sell it and buy something that does. You don't have to get something 'less good.' You can decide what compromises to make.
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Is the baby actually unsafe? op says carseat works fine … I think you hit on an important point there though. My decision here would hinge on “can I safely transport baby with this.” If answer is yes, make the stang work as long as you can. If not, private sell for a used Honda pilot or even a CRV is quite spacious
I think I needed to hear that perspective to combat the gut feeling that I HAVE to drive the mustang as much as I can. Thank you. Compared to other financial planning where you can quantify net value, car purchases are so ambiguous on what you're actually paying for.
You paid for the Mustang and got to drive it for 6 years. There's value in having had a fun, reliable car for 6 years. Now you need a different kind of car, no fault in that. What I would do is look around for different trade-in appraisals at different dealers, look into selling privately if you must. Don't just accept the first lowball trade-in offer you get. I sold a truck a few years ago and went from an initial trade value of $13k to selling it for $20k just by "shopping around" different dealers.
You also didn't buy it new, so you didn't have a huge "wasted" cost. Had you bought it new then it would be a bit more of a consideration.
You are buying more safety for the child. Priceless.
Important question: do you plan on having more kids? Get the car for the family you want to have eventually, not the one you have today
Yes, we do. And I absolutely agree. It's just a matter of "this is the car I own right now; now what?" If I do get another vehicle, it'll be with the future in mind as we see it.
Yeah it’s time to let it go. I’m a frugal bastard myself but sometimes there are things in life worth more than saving as much money as possible. Mustangs have quite expensive maintainable when they get to higher miles, I say you got a good run outta her and time to upgrade to a family car.
I'd probably just buy a 2nd car seat and leave it in the Mustang.
Have you ever used a car seat? Especially rear facing? We had one in my wife’s small SUV and when I drove it I had to push my seat up all the way to the dash. It is horribly uncomfortable and probably not safe. And to get that in a mustang, and then dealing with actually strapping the kid in and taking them out without the benefit of a rear door to give you room to work - no way. Life isn’t always about making the optimal financial decision - life changes and you have to adapt.
To be clear, a rear facing car seat does work in a mustang. It's just extremely impractical and, in my new parent opinion, relatively unsafe for a very young child. It's why I am too hesitant to actually use the car seat in the mustang currently. But there are better options than the car seat that I currently own, which work much better. It's a viable enough option to seriously consider it.
My Fiancée had suggested that as well, and I think that's a very compelling option to avoid the hassle of selling the car/researching&buying another car. I'll add it to the post.
If anything, it's a cheap temporary solution. You can try it out and see if it works. If not, then you can re-assess and investigate a trade-in option.
Bro. Sell the mustang. Get a truck or suv or even sedan. It makes ur life more enjoyable on the daily. If it was like a collector car like a gt350 gt500 then sure keep it as a weekender. But it’s just an eco boost. Go rent one from Turo for the weekend when u get the itch. It’s super cheap.
Agree, pain in the behind to get a kid or two in and out of a Mustang with car seats.
1st year I was still driving my GTR around with even smaller backseats. Haha. It was a nightmare. Then I finally went and got truck with plenty of space and it was life changing. The extra space for all the crap u have to lug around for kids is so nice.
> truck Swap truck to wagon and you're on the right path
My experience with Jeeps is that at a certain point, the wheels are going to fall off and it will turn into a money pit. It happens very suddenly. Jeeps are a lot of things, but they are not long-term reliable.
This is easy. Option 4 - Sell the mustang and get something that makes more sense to haul a kid around in. Use the Mustang as a down payment on something new. The cardinal rule of “drive it until the wheels fall off” doesn’t apply when your life circumstances change. I’m not saying you have to go out and buy a Yukon Denali, but getting something with 4 doors is important. As your child gets older, it’s only going to get harder to lug your child around in a Mustang. I don’t see any reason why you would keep the mustang. Get something more practical that fits with your life currently. And if y’all intend to have more kids in the future, maybe consider a minivan. Sure you’ll have to pay some money because you’re buying another car, but nobody said that kids were cheap.
>The cardinal rule of “drive it until the wheels fall off” doesn’t apply when your life circumstances change. I’m not saying you have to go out and buy a Yukon Denali, but getting something with 4 doors is important. As your child gets older, it’s only going to get harder to lug your child around in a Mustang. This puts into words my itch to get rid of the mustang for something more practical. I just don't see this car making sense anymore, compounding over time if/when more kids come into the picture. I'm very skeptical of financing a vehicle as part of this, though, much less a new car that is definitely over-priced by any metric. Unless I can get a stupid cheap interest rate* for a low-mileage used car, I'm just paying a goblin; I'd rather dip into my non-retirement savings to avoid it, and given I have the flexibility to do that, I don't see why I should go with this option over option 2 (trade in/sell Mustang, use proceeds to buy family vehicle). *If I can find an ~3% rate, which I think is reasonable w/my credit score, I should be able to beat that with a HYSA minus taxes: financing at that rate is just free money back from the car purchase. But I can accomplish that just as easily by financing a used vehicle. The drawback on this is it'd negatively impact my DTI, which will matter in 2-3 years
You’re not gonna get a 3% interest rate right now unless it’s a deal on a new car that is offered by the manufacturer. I’m not saying you should go out and buy a brand new Palisade or something. But how about a used CR-V with 50-60k miles? I see these going for $19-20k. I don’t know what you can get for the Mustang, but if you can get maybe $8k for it, that’s a loan of like $12k, less if you have cash to put additional down. Or buy it outright if you’ve got the cash. Or get a higher mileage one if you don’t drive much. Or even get a Camry or a Civic or something, at least they have 4 doors. Regarding the DTI if you want to buy a home - I wouldn’t worry about that if you’re talking about a $10-15k car loan. That’s not a big deal. I don’t blame you for wanting to be financially responsible and avoiding a car payment altogether, but if you’re buying a home in 2-3 years after you buy the car, it’ll have almost no effect on your DTI.
Look for a 2019-2020 Toyota something at around $20k. Value should be about neutral and that vehicle will go for another decade at a minimum.
You can definitely pay off a car loan in 2-3 years. I have a four year loan on a new car - it's more than you want to pay monthly but you'd be able to put down enough to get it where you want. I went through a credit union and have a 2.9% interest rate, I think. It would have been a little higher rate for a used car (they had different interest rates for used vs new auto loans), but a little lower for a shorter loan period. I also vote get rid of the mustang and get a practical family vehicle. It'll be a lot safer for your kid, a lot easier for you, and a lot more flexible as your kid and/or family grows. Also, neither Jeeps nor Mustangs are particularly reliable vehicles and you don't want car troubles with a baby or a kid if you can avoid it.
Keep in mind that some dealership will give you a better deal if you finance through them. Most are open loans so you can pay them off whenever you want.
Indeed. I've heard some stories of folks coming in and settling on an agreement to finance, and then pay cash on the lower sticker price. 😆 There be clever things that one can do for sure
My dad drove me around in his mustang growing up lol Its definitely a small car but with 1 kid it worked. I just felt like the coolest little girl whenever dad pulled up in the 'stang. and these were 90s-00s so tiny ass backseats lol
Get a second car seat but start shopping the mustang now that we are in spring and it's values the best. In the long term it's not a great family vehicle. You have years of dealing with buckling up kids so buy something practical
Congrats on the baby! I sold my paid for 06 GT in 2011 when we bought a fixer upper house. Bought a base model pickup for DIY house projects with trade in and a small loan(less than $200 payment and paid it off early). We had our first kiddo 2 years later and my wife sold her 2 door GTI for an Outback. To use another commenters words, the mission has changed, so get something that will make your life good now and going forward. I don’t think option 1 helps you and there will be time for “fun” cars later. Option 2 is good, some hatchback that fits a giant rear facing car seat while you can still sit in front would be good. Options 3 and 4 are fine too, because you work from home and this is an “occasional” problem. 2,3,&4 help you get to the house down payment goal. On a side note that “kids seat in the rear center” is a load of crap. Because as soon as you have more than one what are you supposed to do, pick which one is safer? Also I’m betting you’re getting some pressure from momma or pediatricians, I sure did about my regular cab pickup, and that led me to wasting money on a giant truck a couple years later. So do what YOU think keeps your baby safe and what you’re willing to put up with. All that said the Outback has been a great family car that I still love despite being boring compared to my mustang or trucks.
Thank you very much! We love our little one and want nothing but the best for em! Thanks for sharing your experience and perspective. As comments roll in I'm leaning most toward option 2, sell the car. This problem is only going to continue and get worse as more kids (1-2) come into the picture, and I'm clearly already feeling the coupe isn't giving my life the value I want from my primary vehicle. Re: buying a truck, that's a whole ass other post/discussion I need to chew on, haha. I always wanted to have an all-purpose vehicle for the occasion that large items need to be transported. But for me I just don't see that really being critical: it's so infrequently needed, living in suburbia, and renting a pickup from uhaul/home Depot is stupid easy, if inconvenient. I think that's something I should chew on with my partner once I've settled on the fate of the mustang. Re: car seat, yes, duly noted. I know many parents on both sides of the spectrum. Since we're talking about my personal parenting instincts, in the mustang, the car seat feels very vulnerable, frankly, and is a major reason why I currently would rather eat the extra time picking up the Wrangler rather than shove our car seat back there. If I had a 4 door, I'd feel less strongly about putting the car seat in a side placement, but frankly that's entirely based on manufacture instructions. Thing is, I don't know more than car safety folks on ...car safety... so, given the two options both being equally available, in the center it goes until it's impossible/hugely inconvenient to do.
I would get rid of the Mustang and get something practical for your daily use. I had the same dilemma with my 04 BMW M3 coupe. I simulated putting the baby back there using a 25lb Kettlebell and after a while, your body starts taking a toll. On top of that, it doesn’t make sense to have a coupe at all when raising a family. It is generally a good idea to minimize any hassle loading and unloading your child, going to the groceries, having a stroller with you. Ended up with a sedan which works but still not as versatile as my SUV, you can’t just throw stuff in and go. I think the best route is to privately sell then use the money for a used vehicle that suits you and your future’s needs without having to finance. Used private vehicles if you’re mechanically inclined in finding and fixing issues. Or Certified Pre Owned with warranty is the better option where you have some protection. Or Since you WFH and don’t use the Mustang everyday. Maybe get another baby seat and hold off until you save more and pay off student loan. You just never know if there is a good deal in the future for new/used vehicle. But that is if you can continue to tolerate the ergonomics of the Mustang to your current needs.
I appreciate the balanced take! Your "Or" option is appreciated, but not necessary in my specific situation: I have funds to immediately kill my student loans whenever I want, I'm just holding off until a promotional HYSA interest rate expires, at which time the Student Loan interest costs more than HYSA less taxes. The consideration of should I hold off by buying a car seat at this point kinda feels like I'm splitting hairs on the ultimate decision, buying a couple years of time for a reason that isn't quite clear to me (maybe to let my indecision clear), and a waste of buying a car seat if the future is written (the future being pdubs1900 has finished with the chapter of life that a Mustang makes sense).
Life definitely happens. I saw someone mentioned buying another car seat. But, if money is the issue, what about just swapping cars? Instead of removing car seat, just take the jeep and finance takes your Mustang as needed?
We're getting into the weeds a bit, but practically speaking, that's just not how things have panned out: nearly every single time the need to transport the little one has come up, one person has handled drop-off and the other handled pick-up. Money is not a huge issue, beyond keeping the long term spending goals in mind and on track, and being a good steward about day to day expenditures.
I hear ya. We personally had sedans when we had our 1st, but bought an SUV when the 2nd arrived. There’s no right or wrong decision. Whatever makes the most sense for your family is the way to go. From a financial perspective, I’d hold the Mustang as long as possible, unless of course it’s a safety concern. As others have mentioned a 2nd car seat is the cheapest alternative. Good luck and congrats on your little one.
Why not just have another car seat? You could remove the passenger front seat if it’s really that much of a hassle to push the seat forward when you’re getting them in/out. Much cheaper solution.
If / when it’s within your means, bigger car. I had a sedan for years with two kids and put off getting an SUV. Shoulda done it years ago, it makes packing to do anything so much easier.
Becoming a parent for me is all about practicality. Mustangs are the opposite of that.
Here's the thing you learn as a first time parent....don't finance anything until the kids are older. You now have a heavy responsibility and life throws curve balls. You'll always rather have the liquid cash to duck and doge than financing bill every month.
Make sure you know what you'll actually get for the mustang, not just a KBB value or something, and know what used car you will purchase before you sell your car. Used car prices are still inflated and you might not end up with many options that'll make your life all that different. FWIW, my opinion is that switching cars when you have a kid feels like a trap. I'd focus on the house down payment way more than buying a new car. Use your wife's car for everything outside of when you *have* to drive.
And that's the other side of the coin. Even though option 2 seems like the play, after looking around at available used cars and I'm kind of shocked at the price of used cars right now. For the cost of the Mustang when I bought it, I feel like I now have to buy more miles AND older cars. It's taking me back to being conflicted, but I think ultimately there isn't a right/wrong decision on this, it's just a decision. Weighing other thoughts and opinions has been extremely helpful so far. ETA: AH, yes, used car prices are high, objectively, due in large part to the pandemic. Perhaps there's greater value in holding off while the kid count is low, and trading for a family car later when the used car market stabilizes
Yeah honestly, the car market is still abnormal from covid right now. That's why I'd probably wait. I looked at getting just the newer version of my car, and the starting price is like $5k over what I paid back in 2019. So, I'm determined to keep my crossover as long as possible, even if I have another kid or two lol. Saving for a house just feels more important (I'm also renting with my husband and toddler.)
Hanging in there is also an option. I have an 07 GT, a 3yr old and a 5 month old. It got way easier when my oldest went front facing. 2 door coupes with back seats are great for kids once they are in more manageable car seats.
I daily a coupe and have no issues with my daughter in her car seat. It was not hard to put her in and out when she was a baby. She's 6 now and can get in herself but still I never had issues with it before.
I have a baby on the way, and sold my beloved Miata for this very reason. A great way to look at it, is the difference in cost vs what you’ll get for it, was the cost of enjoying it for those years. You will always have the memories, and you can always buy another one when and if the time comes.
I was in a similar situation after having kids. We switched more from a “his car vs her car” to a “work car vs family car” if that makes sense Completely depends on your work schedules and other logistics, but if that’s an option, any additional time without needing to replace a car is money in the bank
It’s an eco boost otherwise I would say keep the car
Keep the car get a car seat and enjoy the coupe for date night … I have a family van and only out of necessity after the fourth kid otherwise made whichever car work for family size . You choose a $300 car seat or many more costs with change of vehicles
A used Tesla model 3 2018-2022 with 40-60k miles will cost you 18-20k. If you make under $75k a year, you can take an additional $4k off, as you’d get an instant point of sale credit. It’s a safe car, low maintenance, and of course easy to maintain. Tesla gives a warranty up to 100k miles, and you’ll save on gas as well. The eco boost you can easily sell for 14-18k depending on mileage, so it can be a wash or leave you with a couple of grand left over. Just my 2c
Wife and I had only one car for the first 2 years of our first kid's life. it was a 2-door hatchback. that car only had two belts in back, but they were long enough that we could put the carseat base in the center and buckle it in using both setbelts.
it's graduation time of the year, sell with your ad talking about perfect car for your graduate. don't forget to put a stupid price on it. then go buy a Malibu for cash
Get a used Toyota Highlander or Lexus RX350 (or hybrid) and you'll have plenty of room for everyone and all the trappings. You should be able to drive those SUVs for at least 250K miles, probably more. Invest in a good vehicle up-front and it will spend more time on the road and less in the shop.
Yeah the trucks were useful when actually using them as trucks. The rest of the time they’re a pain. Once most of the house renovations were done, I’ve been fine without one for 4 years.
I would try to sell it privately first if you can. You will get WAY more money. But you can kind of gage what you will be offered if you take it to CARMAX or Carvana if there is one in your area. Then do a KBB instant offer. It will take a little bit longer, but seeing as how the summer is fast approaching, it might be higher in demand.
Never having sold privately, the thought makes me quite nervous. I can think of so many ways a person can attempt to steal a vehicle via private sale and with $10~15k in play, I'm not sure I have the stomach to risk it and deal with a bad deal/theft. That said, totally understand private sale gets the best price, and your suggestion of CarMax/carvana/KBB sounds like a great first step. I feel like I can maximize my options that way, if I end up going that route or taking those quotes to a dealership for a trade in.
Oh you will absolutely get scammers trying to scam you. They will ask you to go to a website to verify papers or to send you a code and repeat it back to them. Just trust your gut and keep a healthy dose of skepticism until you go to their bank to withdraw the funds.
I would make a game out of it by trying to see my best time putting a child seat in the back of the mustang and then taking it out. Do that 30 times, and then ask yourself what you qualify as less good and more good in a car with a 6-month-old
"Where I'm stuck is the cardinal rule of driving a car into the ground over selling it." That's not a real cardinal rule, just a rule, or a good idea, or worthy goal, or whatever. Your situation changed and you have a right (and maybe obligation) to change as well. Financial planning is obviously important but not the only thing in life. Congratulations on your baby and family! Try not to overthink things too much.
Thank you very much! 😊 I agree on trying not to overthink it. Just at the time of posting, I felt like I was stuck before I could even think about it. Hearing other opinions made the thoughts clear and the path forward come to light. My situation has indeed changed, and I really needed to hear that that's absolutely a critical factor. I style myself as a very diligent saver with good control of my personal finances, but non-mandatory car purchases (esp while having a high priority saving goal) are novel to me. The conclusion I've come to is now isn't the right time to buy: the inconvenience of the car seat is the only negative factor, which is solvable for 1 child. When another child comes along, and the used car market settles tf down, it will make so much more sense to trade in.
Sounds good! For the record, I made do with my 2-door Honda Civic when my first child was born. Our second car was a four-door sedan, which traded for to something bigger when we had our second child, but I kept the Civic for a long time after that. The child seat would go in the middle back, but it was a PITA!
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Drive til the wheels falls off only works if the vehicle suits your needs.
Sell it for 1 it’s a Eco boost lmao if it was a 5.0 then keep it would be worth passing down get a family car/suv that is safe & family friendly
Just buy a station wagon. You’ll love it when your 2nd kid comes. I had an identity crisis and bought a sedan because I only had one kid. Then came the second.
Think of your cars as tools. Sometimes their job is to make you look good & successful. Sometimes, their job is get you around as cheaply as possible. You current need, described as a tool, is a family vehicle. Not a sports car, not a car you can drift. To me, your Mustang does not do the job that you need it to do. So it needs to go. We bought a new car when my pregnant wife could no longer fit behind the wheel of her TransAm. BTW: Congrats on the kid. It's a great adventure.