Needing Advice on down Sizing from a Surburban to a Car

Good that you are thinking about it...definitely pros and cons. I think the big hang up is that you are thinking of switching from a HUGE car to a TINY one....that's a BIG step. Maybe if you considered something in between- you might have car payments but less than you do now and better gas mileage. I LOVE my minivan and it is loaded- but it gets horrible gas mileage for the driving I do. I use it to run around Sugar Land and in the 14 years I have been driving minivans I have never gotten more than 13 miles to the gallon in the city. That is with the Ford Windstar and the Honda Odyssey- I've had two of each.Living out in the country you probably would get better mileage- my problem is the stop signs every 20 feet! I do get 22+ on the highway. But a midsize SUV would give you some of the room and better gas mileage without making you feel like you are denying yourself. (Which is really what this is all about- you don't NEED a Suburban for two kids.) So I say compromise- get something smaller but still nice. Do your research online. Save some money but maybe not as much as you originally intended. Once you drive something smaller for a bit, you'll learn to love it. It is really just what you are accustomed to- change can be difficult! (Except for my husband who had four Suburbans in a row -before we ever had kids- and then when all three kids were small-6 to 12years- he traded in his Suburban for a two seater sports car. That was a switch! He loves it, I hate it but now we have a third driver w/ a 5 seat car so it is ok. A few times though I left town w/ one child leaving him with two and figured it was his own problem to figure out how to transport everyone-he had to rent a car!Think he should have thought about that before getting a 2seat car w/ 3 kids.) And right now the dealerships are practically giving away cars- you can get a good deal....... Good luck!

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We needed to up-size...couldn't fit into our mini-van but didn't want as big a suburban, so we found a used Honda Pilot that held 8 (and will work at least until the boys grow:) and bought outright without spreading payments out. It was in great shape...went from the parking garage to the garage at home.

My point is that there are deals out there and you have a lot of options (especially with the smaller size of your family) as you look for used cars. You will love having the extra income. Enjoy!

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Hi A.,
You are making a really good decision. Here is our story- I had a Cadillac for years- I loved my car, its luxury ride, all the bells and whistles and everything Cadillac provides. It was an older one but in perfect condition and like riding on a cloud- 4 door so it had lots of room for all our stuff and the grand kids stuff as well- Well, it was coming time for us to retire and we began thinking about a vehicile that would last us thru our retirement years- probably the last vehicle we would ever own- which meant I would have to lose my wonderful cadillac.

we tried out all the newest cars on the market at the time- big and small- and since my husband was working at the Toyota dealership we thought we could get a good deal-I went kicking and screaming but We found a Toyota Sienna Van- brand new- and bought it- we live in the country as well and it really gets great gas milage- lots of room- we got top of the line-it was 2001 then and we are still driving it- I have 134,000 miles and have never had any major issues except one and that was covered under warranty. Living in the country with lots of grand children the room in the van has really been great-
when we go shopping we have all the room we need for what we purchase.
We have takes lots of trips and the ride is great- people have commented on how comfortable our van is and how much room we have for all our stuff.....
Your children are small now- but they will be growing and the Toyota Van will give them all the years of grow room with all their stuff .
We get about 28-30 miles per gallon on the road- and about 22-25 in town- but since we live in the country- about 35 miles from any where in any direction- our trips are almost always highway miles.....
Also, we purchased later a small car- the Hyundi Elantra- small but wonderful- better quality than any vehicle- all the bells and whistles- but still small- we loved it and it did not seem like a small car- but with two small children it may be too small. We got 36 miles per gallon in it- now my grand daughter drives it to and from Lubbock- she is at Texas Tech and has not had a single penny on repairs. A very good vehicle.....all the Hyndi cars are great- but the toyota van is a really good choice.....

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Well, let me start by saying that I am a huge fan of Dave Ramsey. Having said that, if you have debt to pay off, then get rid of the SUV. It sounds like your payment is around $700 per month for that vehicle? That is a TON of money and I think you would be surprised at just how quickly you could payoff that debt if you used the difference in car payments and paid every penny of it to your debt. I recommend getting the book "Total Money Makeover" by Dave Ramsey, or better yet, take a Financial Peace University class. A lot of churches offer them. It will change your life and your outlook on finances. You have the mindset starting already and Dave can give you the practical tools you need to implement what you have in your head.

By the way, you don't have to sacrifice safety to save some money. Just do your homework and I am convinced you can come up with a really great compromise that will allow you to get out of debt AND drive safe. Good luck!

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Hi A.,

Great to hear these thoughts bouncing around in your head. For me, being debt free and not a slave to a lender is priceless. I used to drive a Tahoe SUV as my main vehicle but now, with three young kids (8, 4, and 10 months), I drive a Honda minivan which I absolutely love...in my opinion, it is much more practical than any SUV out there. My husband is a car buff so I have lots of experience with all sorts of vehicles.

Wow, $1000 a month in car payments...and if I read your description correctly, this doesn't include insurance, fuel, repairs, etc. Have y'all ever written down on paper how much your vehicles actually cost you and how much of your family's take home pay it eats up?

You state that you and your hubby are not convinced that your happiness from saving money will be worth our unhappiness of not having our awesome suburban anymore...many folks think this way and unfortunately, material things only bring temporary happiness. Having an emergency fund, being debt free, and having money in the bank are milestones that would certainly bring you peace of mind. True happiness doesn't come from material things.

If I was in your shoes, I would sell the SUV and get a good, used mid-size car such as a Honda Accord, Toyota, etc. that works within your budget. These are very reliable cars and given our society's economic situation these days, there are plenty of great bargains out there...I would look first at individuals selling their cars versus going to a dealership.

Even though I teach Dave Ramsey's Financial Peace University class thru' my church, my practical, common sense money management skills came from my mom and dad. I explain to folks that 'contentment' is the key and this does not come from material items. Like I said earlier, not being a slave to a lender is a wonderful position to be in. Try it, you and your hubby will like it (I guarantee it).

If you want to talk more offline, just let me know. I am here as a free resource.

Hope this helps,
K.

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A.-
I could never imagine giving up my SUV but in these times the thought had crossed my mind to. I would look beyond just the gas milage and look at the safety rating of some of these small cars. I am assuming that your children will be riding in it. Look at cars that have proven saftey reputations. You can even look at mid sized sedans such as the Accord, Camery even the Ford Fusion- which also has a hybrid model, even some of the smaller SUV's are getting great milage. I would go to the National Insurance Institute website (they do the crash tests that are more stringent than the government tests) as well as consumer reports and look at the different ratings for cars. Also look at the other costs of ownership such as insurance cost, maintance and repair costs this last is a biggie if you are going the used car route- ask for the CarFax report as well. Of course you need to to what is best for your pocket book as well, but don't skimp on the saftey and reliablity of a vehicle just to save a few bucks. Really do your research and test drive the cars using your normal driving habits- take it on rural roads to get a feel for how it handles bumps, make abrupt stops. Make the test drive as "real world" as possible. I hope that this helps. Good luck with all of your goals.

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You need to ask some questions that you may be surprized about realizing. First is, your kids are small right now but when you want to add a friend or two for each of them to go someplace, where are they going to ride? How much upside down are you going to be on your note? Did you buy this new off the showroom floor? If so, you need to be committed to driving this new vehicle for at least 10 years to maximize your total investment. If you trade it off just after purchase, you stand to loose all the depreciation you took when you drove it off the lot. You will never regain that money.
Next, have you driven a car recently? You will honestly be looking at everyones tires while sitting/driving a car while going down the freeway. I had my first suburban in 1996 we traded up from a ford taurus. The kids loved it and I regret not having it sooner. I was able to drive the state of Texas with an AAU basketball team. I loved the size and it did get great MPG. My next one GMC2000 Yukon XL, I LOVE IT. The ride is great I have 170,000 miles and it is still a wonderful vehicle, I bought it new and I made the commitment to drive it. I get about 18-19 MPG it carries all my grown kids and spouses when needed and has been very reliable.
If you are looking at getting a used vehicle you better have a great relationship with a qualified mechanic, make an appointment with the mechanic and have him look this used car up and down and around. Ask his opinion on reliabiltiy, have him look up TSBs on that model. Call the lender and find out for sure where you will stand before you start dealing with a car person at a lot,
I just wouldn't do it since you are out in the country, Once you make the move it will be even more difficult to recover amd get another suburban.
Good luck.

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We traded in our Expedition on a Scion TC. We are saving about $100 a month in gas and about $200 on the car note. It was a VERY HARD decision, but worth every penny. We were able to do more of what you said. I have a 6 and 4 year old.
The car is small and took a while to get use too. I have not regretted it, but I do miss it. Good Luck!

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Hi A.... Firstly, good for you for making the decision to improve your finances and cash flow. That is awesome and takes a lot of courage!

I do hear your pain on getting rid of the Suburban. It's really hard to downsize if you really like the "big" vehicles. I faced a similar situation this year in that both my husband and I were laid off (him in January and myself in February). After 3 months, we realized that jobs weren't going to materialize anytime soon and decided to get rid of car payments as well. I was driving a really GREAT Expedition which I loved. I did the research and sold it privately, took the little bit of profit and found another older model used Expedition that I was able to pay cash for and drive off the lot. I found there were a lot of used Suburbans/Expeditions for sale at fairly reasonable prices. I came out of it with no car payment at all and still have the style/type vehicle that I wanted. Since I wasn't going to have any car payment at all, I decided that I could afford the little extra on gas. I can't tell you what a relief it is to have no car payment at all anymore. I don't think I'll ever go back. It might be worth exploring the cost of used vehicles in the model that you decide to purchase and try to find one that you can also pay cash for.

Regardless, good for you and your husband on making those decisions together about finances and implementing your plan!

A little about me:
Mom with 3 kids in college, grandmom to 2 great kids, married.

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I downsized from my minivan to a Camry. Sometimes I miss the van---when we have a lot of groceries to buy, etc.... but it was worth doing. My Camry gets great gas mileage & is very reliable. I got a great price at CarMax and trusted their 35 point inspection...or whatever they do before sale.

It's a little tough to put big teens in the Camry, but they usually drive themselves to most places in their "clunker."
So think about what you usually have to transport besides people: groceries, school stuff, household items and don't go smaller than what you need to haul.

I almost went with a Corolla and glad I didn't. That would have been too small for all the groceries I buy every week for 3 teen boys (and their friends.)

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Hi A.,

I've had many cars in the past and the best so far on gas mileage and longevity is my 2002 Honday Civic. It has ONE HUNDRED NINETY EIGHT 198K miles and still runs like the first day we got it. There are different Honda models Accord, etc. Ever since I got my Honda and have experienced the great gas mileage and low to no repairs, it's been awesome. We are getting ready to trade in my husband's car for a Honda Pilot and he's going to be using my Civic for work. He prefers it to his car w/gas mileage.

Good Luck!

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Hi A.,

I know what you mean, I have two boys loong legs and still growing. We have had big vehicles and we needed to save from gas to well the payments. My father-in-law is a big consumer nut. He showed us these cars which I just laughted at first and said you gotta be kidding me. But we needed something good on gas, lower our monthly payments and we still needed room. Well my husband and I now own two, we bought them new because we could not find them used, but we spend 25.00 a week on gas for one car and we drive all over eps.my husband with his job. These cars have a great warranty, they were the number one consumer requested vehicle and my favorite part are these child proof locks. I have a lot of neices and nephews whom are very little and love to open things. So I know your not looking into something new, but if you get a chance these cars well they speak for themselves. You wouldn't believe it until you get in one. The prices on these are the same every where. I know used cars are cheaper now but when something goes wrong you really don't get to save, but with a new vehicle your covered well I wish you the best and if your interested in a money saver all the time at least that is how it is for us then when you get a chance they are the SCION XB. Good luck,
Mrs. C

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Look at the CRV's. We have one, it's the vehicle I drive with the kids-2 of them.

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Hi A.,

I just want to pipe in to say, don't let the myth that smaller cars aren't as safe as larger ones. Lee Iacocca (the man who invested the minivan) has come out and said that much of the "big car is safer, buy a big car" propaganda was put out there by car manufacturers to sell more larger, and therefore more expensive cars.

Do you research. Buy a car that is more cost efficient and has good safety ratings.

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Look into a crossover. I have a tahoe, and like it. My mom just recently went from a tahoe to an equinox and loves it - super great gas milage, lots of leg room in the back seat and still some storage room in the very back. You can easily put to car seats in the back seat as well.

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Well, If you have weighed all the possibilities and have decided on a good used car, I would suggest a volvo. WE drove volvos for years and they are safe and very reparable. We have a good volvo mechanic in Austin, Troll who can find gently used parts to repair volvos with and he does not charge a fortune either. Also, you need to realize that when you get a used car, there will be repair expenses. There will probably be some major expenses at first and some minor expenses along the way. That said, I still would recommend a volvo. Be careful to put the "extra" money in a savings account as soon as you get paid, so that you will see it and it doesn't slip away. Be sure to have car seats and good seatbelts for the kids in the new/used car too. Good luck. J. K.

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Have you already decided on what car you are going to buy? I went from an Expedition to a Freestyle (a crossover) and LOVE it. So much easier to drive and LOTS MORE space. THere was just so much wasted space in the Expedition. You can look for a used crossover or smaller SUV and still keep that space and driving style you like, save money on gas if you get the right one.

Go to consumerreports.com and sign up for their online car buying guide. It will tell you which used cars are worth buying (usually the imports). Also, there are LOTS of deals out there on new cars. My Dad just got 0% financing on a Ford Edge.

Good Luck to you. My best advice for you to be happy and save money is to do your research.

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Hi A.,

I sincerely respect your thoughts on this. Kudos to you for going through the emotional process of being financially savvy! The easier thing to do is ignore that nagging feeling...

Honestly, I've never made a car payment. We have two cars, both paid for. One of them is about 9 years old, nearly 200000 miles and my mechanic says it's still got a few good years on it. We bought it in 02 after it had been wrecked and rebuilt, and that thing just never quits! It's kind of ugly, it's a little cramped (Chevy Prism), and well, we have no GOOD reason to buy another car.

I'd love to get into something stylin' and automatic transmission, but the truth is, the idea of paying interest on a car loan makes my stomach turn. A cheaper model is still about 12-15k, and the interest is like just giving a bank a gift of my money every single month. No thanks. We put away what we'd be making on a car payment every month. But we pay it to ourselves. And if you put it into CDs, you get the intrest from the bank!

So one thing you could do is get rid of the monster Suburban, get a cheap used car, still put away the payment on the Suburban in the bank, then in less than the amount of time it would take you to pay off the Suburban you have, buy a new one or something less gas guzzling that you like better, and owe no interest. In the mean time, your used car will do everything you need it to do.

Good luck to you!

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We recently downsized from a Jeep Commander - we still had 3 years left on the payment, which was interest free. We got a great deal on a Dodge Journey - a crossover vehicle, that still gave us the 3 rows of seats, but lost the towing capability.
We love the new car... the payment came down by close to 50%, but did extend the loan back out to the full 6 years... still a big monthly saving! We still have all the seats we need when grandparents visit, its very spacious and the trunk space is quite adequate for daily life. We have one child aged 2.5yrs, and another on the way; two car seats fit in second row no problem.
Gas is so much cheaper - we haven't worked out exact saving, but I know its a fairly big amount. Also insurance is cheaper (no 4x4), and servicing costs are much lower.
I say, go for it!

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Stick to Honda or Toyota. They make good durable cars that are affordable. Go for an Accord or a Camry. My dad and I both love our Accords, and my mother is on her second Camry. You can even buy these cars used and still get a really good car with good value.

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Honda Accord. Plenty of room for 2 carseats, stroller, plus groceries!

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Instead of trading your Sub in why don't you pay off hubby's truck at a normal rate. Then apply that payment along w/ your Sub's payment to pay it off at a faster rate. You have a vehicle that suits your needs and more. You also know it's maintenance records and trouble. With a "new to you" car, you do not have that same knowledge. Just something else to consider. Once both vehicles are paid off, you will be rolling in the dough w/o the gas savings. The Sub is roomy and pretty darn safe.

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I have a 2003 Pontiac Vibe and it gets great gas mileage. 28-31 hwy and 24-26 in town. It's a smaller SUV but much bigger than a car. I can put the back seats down if I need too and it opens up the hatch a lot! I have been very happy with it. My monthly payment are only 210.00.

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On paper your move sounds great but I have to say you will miss the room and your children are growing. If you travel a lot by car getting a smaller one might become and issue with packing.

Have you thought about a used mini-van. They get better gas mileage and you keep the space.

I have a CRV -- love it. I have one son and when we pack the car for a trip we are full and it is just me, my husband and my son. CRV is a mini-SUV. We are looking at getting the rack added to the top and then getting a car top carrier to help with space. That is also an option. Smaller car but a rack on top to carry stuff, if traveling.

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Hey A.,

We did the same thing about 2 years ago and although there are times I miss my SUV I am so thankful that we were smart and downsized. We bought an Impala--not glamorous but it gets good gas mileage, is reliable and it has a large trunk. The large trunk really comes in handy when we go out of town like to the beach because I take all of our food and a large ice chest, toys, etc....

In the long run it will really be worth it!

Good luck,
Debra

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We bought a quadcab truck with a bedcover. We get the inside feel of an SUV, but can still carry more stuff. We take it on long trips because it's more comfortable. My husband drives the small car to work everyday and and we all take it on short errands because of the gas milage.

You will be making a huge mistake. Trading a solid SUV for a smaller car is an accident waiting to happen. Not only will you be spending considerable more on maintenance on a smaller vehicle you will sacfrice so much safety and space. We speak from experience. We traded our SUV for a smaller car and that lasted two weeks and we traded back to a SUV. The safety issue is number one. Just listen to the accident reports on the news and that will prove the safety point.

Consider the accident safety factor in driving a Suburban...

My first thought when I read your decision to downsize to a small, fuel efficient car, was safety for you and your children. (Make sure your safety sits will fit properly.)

We've all heard stories, but I'm sharing another one anyway. A woman was driving her ranch truck and was t-boned by another full-sized truck on the driver side. Her only injury was a broken arm. However, she normally drove a small, fuel effecient car. If she had been in the car, her injuries would've been much worse. Before she left the hospital, she told her husband to get rid of the little car.

Whatever you choose, please consider all aspects, not just dollar signs.

I cant suggest what TO get, rather what NOT to get. Unless you like throwing your hard earned dough away....do not get a VW!!! I have a Beetle...we dont call it the beetle 'round here...its referred to as "The Money Pit", or "The 600 Hundred dollar Car'...(all repairs seem to cost $600!?!)

I keep wishing someone would steal it....with my luck it wouldnt start. When Ike came through....I crossed my fingers....flood, dammit, FLOOD!!!! No such luck :( I will probably have tears of joy in my eyes when we chunk that car next year!!!

Good luck in your search!!!!
(dont forget to get a mechanic to look at ANY used car before purchase!! ;)

M. :)

I started driving my first new suburban in 1984 and got hooked. DH wanted the kids and I safe on the roads. Over the years as our kids grew, it was a life saver because I always had baby gear etc, then kids and friends and then teen agers and their teen friends. I have never been disappointed. Now, we carry our grandkids around in it and their parents! I couple of times I downsized to a Tahoe or an Envoy, but quickly traded back up and amon #4. I just hate the new changes in the last body style by whacking off about a ft of the rear end! That was my extra grocery space. We still have 3 seats in ours and I have no qualms about enjoying it. The grandkids love the DVD player on long trips, too. Why cramp yourself and your growing little ones if you don't have to? Money isn't everything. It is nice, but then again, so is sanity when you have little ones to take with you on a trip. I love my suburban and wouldn't change a bit!

Hurray for saving money and helping with the environment! You will ENJOY having money in savings. The peace is invaluable!

Of all the cars we have owned, Honda and Toyota have been the best for us, mileage and safety wise. My mom was in a serious car accident last year in her Honda Accord, but survived just fine. An uninsured driver was distracted and ran into her when he looked up and over-corrected, sending her into the center divider going 65 mph. My mom bought another Honda. (Oh, and a great plug for GEICO - they gave her the full value within 2 days!) So if I trust my mom in a Honda, you know I think they are safe. The mileage is awesome!

Do not buy a Chrysler, Dodge, etc. I repeat, Do NOT buy a Chrysler, Dodge, etc. They could care less about the 21 repairs we had in the first 18 mos. of owning our car - 50,000 miles. (We lived in a remote area so we had to drive a lot.) The repairs were all different so we couldn't apply the lemon law. When asked to have some of them covered past their warranty, their response was that they did not feel the repairs were excessive! I am not kidding. The repair people were just shocked when I showed them the letter from the corporate office.

hello i have to say i own a suburban and a little car and i love driving my suv more i feel safe in more then i do the little car when i have to drive my little car with the kids they seem to fight more to where if we are in the suv they dont fight i can spred them out:) and goin to the grocery store in a car is much harder i would keep my suv if i was you are maybe look in to a smaller suv like a minivan i had one before my sub and we loved it and was good on gas but then we adopetd two more childern and needed more space wish you well

I went from a minvan to an suv.
I still miss the large storage space that my minivan had.
Regarding your decision to go to a small car, my concern is the SAFETY !
Do your research for crash test results.
Google search crash test results and see what you find.
A small car might not be as safe as a minivan or small suv.
Good luck with your decision.

I have a few friends that also sold or traded in their new large vehicles. Most of them purchased nice midsized vehicles and love them. Many went with the Honda Pilot. Another a Honda Accord.

One of our friends sold her newer Suburban and with the sale was able to purchase an only slightly older version of their same Suburban. It was loaded! So they ended up with no car payment after the sale of their car.

I understand loving your car, but piece of mind and the freedom from debt is an amazing feeling.

I just got a dodge journey(09), about four months ago, it's a crossover, has three rows, I have two kids that fit well in the back seat n have the third row folded down so we have lots of trunk room. Two months after I got it though I had to get the tansmission replaced. It was covered under warranty, I have not heard of this being a common problem in the journeys but make sure u get a carfax report, mine was used n I trusted the dealership's report. Still kicking myself for that. I pay 280 a month, n get about 27 mpg. When I had a rental a few weeks ago the dealership only had an aveo, I drove it home, n called back n asked for something else(please!) if u are used to driving big cars, that is not the car for you. Even the journey took some getting used to as it was smaller, but the savings in gas n payments is well worth it. I would suggest a small suv or mid size car, like the accord (a used one) the peace of mind will be worth it. Oh n one more thing I would research crash safety, some smaller cars are more safe because they absorb the impact better than a larger car. Big cars flip easier too. Good luck

2 yrs ago,I traded my suburban for a Chrysler 300 & love it! BUT i want a suburban again!! Wanna trade? :)
I would give it some deep thought, when you are accustomed to a Suburban, a car is no comparison. I love my car, but after I traded it, we ended up with another baby 8 months later on our doorstep & adopted him. I already had two small children we adopted. My 3 teens all have their own cars & I didn't feel I needed a SUV for the same reasons your giving, gas & note. Now i need one & am stuck with car.
With two children a car should be no problem for you, you'll still have plenty of room.
Good luck which ever you decide to go with!

This is really not advice but I just want to share this with you. I have a small car, good on gas and great safety features. I have two small children, so safety is my main objective. I love it! But I just had a newborn and would like to be a stay at home mom for awhile and go to college as well. My car note and insurance combined is too much for me to stay home. I would have to work for it. I put a request out, so maybe someone knows what I can do to get rid of that expensive note. I really wanted to get a domestic suv that the payments would be around 200. But its not looking good for me because I have an existing car note and not so great credit. So Im suck with it. Maybe someone can take it out of my hands. If you have to get a car look for safety. Thanks for listening.