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    1. Member mk2_dub's Avatar
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      08-07-2012 09:36 AM #1
      I know this has been asked here several times, but I'm hoping my situation will be different...

      I'm currently driving an '05 Infiniti G35x and I was thinking of getting rid of it (selling it to my mother) in the fall and picking up an 07+ Chevy Tahoe.

      My reasoning for this is because in the next few years, I'll be popping the question and hopefully having some kids. My original train of thought was that if I get the truck out of the way with, it's one less expense to manage once we are married and have kids.

      My friend who works at a bank was telling me that it's a bad idea and that I should just drive the G35 into the ground, because with a $20k car loan, I would be unable to get a mortgage for anything over $360k.

      In the next few years, I will be planning to buy a house with the wife, and we both make pretty decent coin (she's a business manager at a BMW dealer, and I'm an underwriter for an insurance company), so I figure we should be alright.

      Any input?

      I'm an acquired taste, if you don't like me... acquire some taste.

    2. 08-07-2012 09:38 AM #2
      That would depend on many factors. Your credit history, savings, income, etc.

    3. Member zhenya00's Avatar
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      08-07-2012 09:39 AM #3
      I see no point in purchasing a vehicle now with the thought that it might suit your needs a few years from now. There are a lot of steps between where you are now and having a couple of kids. What vehicle you'll own then is the least of your concerns.
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    4. Member caj1's Avatar
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      08-07-2012 09:42 AM #4
      What if you're infertile? Maybe a Forester is a better choice.

    5. Member Dr. Woo's Avatar
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      08-07-2012 09:45 AM #5
      If your G35 is paid off, then IMHO it's a no-brainer. Stick with it for now.

      You'd be far better-served taking the money out of your paycheck that would go towards this new truck and putting it in savings. Perhaps a short-term share certificate, which could serve as a down payment on a Tahoe (or one of the Lambda trucks, which seem to go for similarly low prices and get slightly better mileage).

      I don't know what house prices are like in Ontario, but $360k sure sounds like a hell of a lot of house.
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    6. Member ctrapeni's Avatar
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      08-07-2012 09:47 AM #6
      Why do you need a truck if you married and have kids? I have been married for over 10 years and have an 7 year daughter. Everything works just fine in my WRX.

    7. Banned Chris Stack's Avatar
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      08-07-2012 09:50 AM #7
      Quote Originally Posted by caj1 View Post
      What if you're a lesbian? Maybe a Forester is a better choice.

    8. 08-07-2012 09:52 AM #8
      I would drive that Infiniti into the ground. I mean, I'm saying, I would literary drive it until it no longer makes sense and you've put over 200k miles on it or whatever. I think you're best off starting off marriage with as little new or carry over debt as possible.

    9. Member mk2_dub's Avatar
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      08-07-2012 09:57 AM #9
      Quote Originally Posted by caj1 View Post
      What if you're infertile? Maybe a Forester is a better choice.
      Knock on wood...

      Quote Originally Posted by Dr. Woo View Post
      If your G35 is paid off, then IMHO it's a no-brainer. Stick with it for now.

      You'd be far better-served taking the money out of your paycheck that would go towards this new truck and putting it in savings. Perhaps a short-term share certificate, which could serve as a down payment on a Tahoe (or one of the Lambda trucks, which seem to go for similarly low prices and get slightly better mileage).

      I don't know what house prices are like in Ontario, but $360k sure sounds like a hell of a lot of house.
      At the moment, I have about $7k left owing on my G and my mom is going to give me $9k for it.

      $360k in Ontario will buy either an older fixer-upper or a newer townhouse/semi-detached.

      Quote Originally Posted by ctrapeni View Post
      Why do you need a truck if you married and have kids? I have been married for over 10 years and have an 7 year daughter. Everything works just fine in my WRX.
      Well to each their own. I personally find a small sedan to be too cramped for my liking and I can't bear the thought of having to put kids in the back of a tiny car. I want space for my kids, my dogs, my stuff.

      Glad to hear it works for you though.

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      08-07-2012 11:19 AM #10
      My $0.02....

      If you want to maximize the amount of house you can buy, hold onto your G35x and pay it off before you apply for your mortgage. If you have extra cash each month after paying it off, save it (for the house, your next car, emergency fund, whatever). Close the deal on your house, and don't worry about getting a Tahoe or whatever family-mobile until you need it (you'll probably have months of lead time on this).

      Basically, as long as your current car (the G) is in good working condition, I don't see the advantage of buying a larger, less fuel-efficient vehicle now because you think you'll need it in a few years. Plus, a few years from now, similar money will most likely buy you a 2010 Family Truckster instead of the 2007 model you'd get today.

      Cliffs: Keep your car and pay it off; save resulting extra cash; buy a house; buy a family hauler only when you need to haul a family.
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    11. Banned Tiny4cyl's Avatar
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      08-07-2012 11:23 AM #11

    12. 08-07-2012 11:37 AM #12
      Quote Originally Posted by Tiny4cyl View Post
      Oh my god, there's actually a show that attempts to tell people they can't afford all the **** they buy on credit? Amazing.

    13. Geriatric Member ValveCoverGasket's Avatar
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      08-07-2012 11:53 AM #13
      Quote Originally Posted by ctrapeni View Post
      Why do you need a truck if you married and have kids?
      because america.

      edit... i see OP is in the arctic.
      now my slandering of SUV drivers doesnt work as well...

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      08-07-2012 12:01 PM #14
      IMHO, g35x is enough for marriage and kids, to start with. Tahoe will eat up gas and it will be much more expensive. if you are worried about transport when you have kids, wait till the wife gets pregnant first. then get a minivan or something. plus you cant save money by spending it on a higher loan.... that just aint right man!

    15. Banned SVTDanny's Avatar
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      08-07-2012 12:11 PM #15
      A car payment will take a big toll on the mortgage you will get approved for.... remember, 28/36 - 28% of gross income = max house bills (Mortgage, insurance, taxes, PMI if applicable), 36% of gross income = max monthly obligations.

      Let's say gross monthly = $6000. That leaves you with $1680/mo for mortgage/taxes/insurance/PMI. If you have $800/mo worth of car payments, student loans, credit card payments, etc., then you subtract that from your 36% number which is $2160. $2160-$800 = $1360. If you're looking into buying a house, then you know that $300/mo difference adds up to a HUGE difference in terms of houses and pricing.

      If you're going to buy a house, pay off everything in sight first, and don't pick up any new debt. That would be my advice. It sound like you can wait on the Tahoe, anyway.

    16. Member c615586's Avatar
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      08-07-2012 12:19 PM #16
      Do you still have the QX4? Would the Tahoe replace both of your cars?

      I agree with the majority of other posts. Hold on to whatever you have for as long as possible and then buy the car you need as a husband and a parent when you actually need it. In the meantime take the money you would spend on the Tahoe and its gas bill and put it into a relatively liquid form of savings. You may want to look at a high yield CD (there aren't many right now), tax free government funds or high dividend stocks as an options for this extra money.

      Avoid taking on debt that is unnecessary.

    17. Member mk2_dub's Avatar
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      08-07-2012 12:25 PM #17
      Thanks for all the input everyone!

      I forgot to mention that gas isn't too much of a concern for me as I commute by train to work everyday and the train station is roughly 2km from my house.

      As well, one of the biggest reasons I'm looking to get out of the G is because I know that if I keep it, I'll end up spending money on it modifying it. I know that I just need to have more self-control, but it's just who I am.

      The reason I was looking at the Tahoe was kind of as a way out (not exactly mod-friendly without spending large $$$).

      G35x - $230/month car payment + $230/month insurance + $300/month for gas + $???/month for mods
      Tahoe - $300/month car payment + $150/month insurance + ~$300/month for gas

      I just figured I'd end up saving a few bucks. Maybe not though.

      I'm an acquired taste, if you don't like me... acquire some taste.

    18. Member mk2_dub's Avatar
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      08-07-2012 12:26 PM #18
      Quote Originally Posted by c615586 View Post
      Do you still have the QX4? Would the Tahoe replace both of your cars?

      I agree with the majority of other posts. Hold on to whatever you have for as long as possible and then buy the car you need as a husband and a parent when you actually need it. In the meantime take the money you would spend on the Tahoe and its gas bill and put it into a relatively liquid form of savings. You may want to look at a high yield CD (there aren't many right now), tax free government funds or high dividend stocks as an options for this extra money.

      Avoid taking on debt that is unnecessary.
      No longer have the QX4, my father's Equinox died, so I decided he needed it more than I did anyway.
      I'm an acquired taste, if you don't like me... acquire some taste.

    19. Member curvedinfinity's Avatar
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      08-07-2012 12:28 PM #19
      Being a father of 3, my advice: A G35x will work fine for one child in a pinch

      Keep doing what you're doing. Don't buy a bunch of junk for the baby -- stuff they don't need 6 months later. Save a lot for the house. Wait until your situation stabilizes with the house and baby and then buy new stuff.

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      08-07-2012 12:47 PM #20
      The only factors that would push me towards getting the Tahoe now, would be larger cash incentives/discounts available today + lower APR.

      If you suspect the rates will be much higher in 5 years, you know that's THE car you want, and there are good incentives and deals to be had now -- I would *almost* consider it.

      Having a car loan won't preclude you from buying a house if you have all your business in order. I've bought houses with minimal down AND a car loan on my record - still got great rates, etc...

      But that's really all a gamble. Does your mom really need your car - is that why she wants it?
      The best may be to help her find a good used car for her $9k, keep your G (or trade with her).

      Also, weddings can get expensive...

    21. Senior Member dunhamjr's Avatar
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      08-07-2012 01:02 PM #21
      Quote Originally Posted by curvedinfinity View Post
      Being a father of 3, my advice: A G35x will work fine for one child in a pinch
      being a father of one plus having 2 50# dogs...

      a g35 will work 100% fine for one kid. not just in a pinch.
      it will absolutely work all the time for a family of 3.
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    22. Senior Member dunhamjr's Avatar
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      08-07-2012 01:12 PM #22
      Quote Originally Posted by mk2_dub View Post
      I know this has been asked here several times, but I'm hoping my situation will be different...

      I'm currently driving an '05 Infiniti G35x and I was thinking of getting rid of it (selling it to my mother) in the fall and picking up an 07+ Chevy Tahoe.

      My reasoning for this is because in the next few years, I'll be popping the question and hopefully having some kids. My original train of thought was that if I get the truck out of the way with, it's one less expense to manage once we are married and have kids.

      My friend who works at a bank was telling me that it's a bad idea and that I should just drive the G35 into the ground, because with a $20k car loan, I would be unable to get a mortgage for anything over $360k.

      In the next few years, I will be planning to buy a house with the wife, and we both make pretty decent coin (she's a business manager at a BMW dealer, and I'm an underwriter for an insurance company), so I figure we should be alright.

      Any input?

      IMO you have way to many variables there for anyone to give any solid advice just off the cuff.

      personally. i think its a bad idea to swap out a car you know is doing well, for something unknown (no matter how reliable the new ride will likely be).

      you are adding on more debt right? not good.

      you havent even proposed yet, but she is your wife? jumping the gun.

      not quite married and talking about buying a car for your potentially maybe possibly 'some' kids?

      not saying you dont have the right to think this way. but you are trying to line up LOTS of "if's".

      i see no reason to swap out of your car right now. you dont have kids. you dont need the truck. hell you might find that the girl and yourself have fertilization issues and it takes 6 yrs to get her knocked up...

      i do understand wanting to be prepared but man. try for one step at a time.

      what i would do...
      refi or pay off the car.
      save, save, save.
      get married.
      save, save, save.
      buy house.
      knock her up.
      have kid #1.
      see if you will have kid #2.
      knock her up. (or not)
      buy SUV. (or not)

      this all goes out the window though if the reason you are selling your car is to help your mom out.
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    23. Senior Member dunhamjr's Avatar
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      08-07-2012 01:13 PM #23
      Quote Originally Posted by Dr. Woo View Post
      I don't know what house prices are like in Ontario, but $360k sure sounds like a hell of a lot of house.
      its a fixer in ON.
      and in lots of places in the US, $360k is still basically starter home/condo money.
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      08-07-2012 01:16 PM #24
      Quote Originally Posted by mk2_dub View Post

      My friend who works at a bank was telling me that it's a bad idea and that I should just drive the G35 into the ground, because with a $20k car loan, I would be unable to get a mortgage for anything over $360k.
      Unless he knows the ins and outs of your financial situation, thats a pretty blanket statement to make, imo

    25. Senior Member dunhamjr's Avatar
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      08-07-2012 01:21 PM #25
      Quote Originally Posted by mk2_dub View Post
      Thanks for all the input everyone!

      I forgot to mention that gas isn't too much of a concern for me as I commute by train to work everyday and the train station is roughly 2km from my house.

      As well, one of the biggest reasons I'm looking to get out of the G is because I know that if I keep it, I'll end up spending money on it modifying it. I know that I just need to have more self-control, but it's just who I am.

      The reason I was looking at the Tahoe was kind of as a way out (not exactly mod-friendly without spending large $$$).

      G35x - $230/month car payment + $230/month insurance + $300/month for gas + $???/month for mods
      Tahoe - $300/month car payment + $150/month insurance + ~$300/month for gas

      I just figured I'd end up saving a few bucks. Maybe not though.

      if you want to be a family man, then that means you need to be responsible with your household money.

      you could easily keep the G and not mod it if you were actually dedicated to doing the family thing right.

      you shouldnt need to toss a perfectly good car for a craptastic SUV driving experience.

      plus...
      your numbers show a real savings of $10/mo.
      G -- $230+$230+300 = 760
      T-- $300+$150+300 = 750

      and you dont drive alot, why do you think you will spend $300/mo gas?
      and why would the G and Tahoe have the same gas expense, does the G get that bad of mileage?

      on top of that. when you buy a car, any car. you are going to pay taxes. that money is just gone. whether you note that in your budget anywhere or not, its an expense and its not ever coming back to you.
      epitome
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