Advice?
My husband and I are 25 & 27 and have upward projecting jobs.
We own our home, and we make ~$150,000/year gross. Take home is around $110,000, so we have been able to save about $2000-$3000 a month. We have about $66,000 in savings and $10,000 in 401k.
Should we buy a car outright for $17,000? That’d leave us about $49,000 in savings. I’m stumped because we have 2 cars, but they are both too small for a growing family. I’d like to keep both of these cars because they are paid off and get good gas mileage, but I’m having a hard time pulling the money out of my account for a new car! I’ve never made this large of a purchase. Financing is kind of a no go I think because the interest doesnt make sense. Thanks
Edit: okay yeah you guys are right I don’t need a third car. Yes I also know I don’t NEED a super large car right now, but it will sure be nice to have the space to grow.