Skip to Content

Recession Watch: $1,000 a month for a new minivan? No way

Text SizeAAA

Filed under: Shopping, Transportation, Recession

This post is part of a series about real-life signs we're in a recession.

It has been fun for the past year, since my son was born, driving around in a 1999 Ford Taurus with three kids crammed into the back seat. But the plan has long been to buy a minivan.

The only one my eight-year-old daughter, who loves our Taurus almost as much as my husband, would consent to is the new Dodge Grand Caravan, for 2008. That's because it is the one with the seats that spin and face backwards and the little pop-in table for in-van picnicking.

Am I a sucker for swivel and go seating? Yes! I thought we had an easy decision and I even joined Costco (more on that decision) to take advantage of their no-haggle car buying program. I had my special incentives and zero percent financing deals all lined up when I went to the nearest participating dealer, ready to buy.

Only problem: I thought I could buy a car for about $22,000. But when I got done talking to the salesman, he had me convinced I needed a model that cost $36,000. With my cheap financing deal, that was still $1,000 a month.
In more optimistic times, I might have rationalized the purchase. I mean, we'd probably have the van for 10 years. Maybe I'd let him convince me to lease one. Or take out a five year loan. But this year? When we're trying to cut back on evenings out, new clothes, vacations, anywhere we can, to suddenly take on that kind of expense? All I could think of was all the things I could do with that $1,000 a month.

Owning a Dodge Caravan paled in comparison. I decided to swivel and go myself -- right out of that dealership.

I talked it over with my wise and frugal colleague Sarah Gilbert. She advised waiting a year when I can buy one used at hopefully about half the price.

See, I'm still a sucker for swivel and go seating -- just not at a $36,000 price tag.

Update: Finally buying a minivan: Why we chose a three-year lease
If you're interested in transportation, you may like
these related sites for: Maps, Driving Directions, Travel, and Cars.
Subscribe to Walletpop

Reader Comments (Page 1 of 1)

Find Your Next Car

Find Your Next Car

AOL Autos New Cars and Used Cars
Vote Now For the Readers' Choice Best in Food Awards
Nominations have been received and vetted for the best-of-breed in gourmet grocers, online gourmet ...
Zingerman's Bakehouse: Artisan Bread and Pastry from Ann Arbor
Zingerman's Bakehouse of Ann Arbor, Michigan, is nominated for a Luxist Award in the best bread ...

Ask the Dolans

Have a question about the "Cash for Clunkers" program or any other personal finance subject? Ken & Daria Dolan are here to help.

Ask your own questions to the Dolans

Jason Cochran
Jason Cochran Filed under: Bargains, Extracurriculars, Transportation, Travel, Celebs & Money

On board the new Oasis of the Seas: Is it worth the money?

So here I am, writing this from off the coast of Florida as part of the first two-day preview cruise of the magnificent Oasis of the Seas. Royal Caribbean has launched the largest cruise ship in the ...
Geoff Williams
Geoff Williams Filed under: Credit cards

Citigroup holds its customers hostage

Across the nation, Citibank credit card holders are receiving what pretty much amounts to a ransom note: We're going to raise your rates, says the letter, in so many words, but if you spend more ...
Bonnie McCarthy
Bonnie McCarthy Filed under: Budgets, Kids and Money, Saving Money, Technology

Family budgets: Make movie night safe again with family-friendly review sites

Around my house, we don't make the decision to pile into the car and head over to our local Cineplex as easily as we once did. It costs a lot of money these days to see talking animals, wild things ...
Madhusmita Bora
Madhusmita Bora Filed under: Transportation

Shop the friendly skies? The airlines are hoping you'll buy while in the sky

Along with sandwiches and soda, you may one day be able to buy tickets to Lion King and Animal Kingdom while cruising 35,000 feet above ground. A New York Times story reported that the airline ...

Most Popular Car Makers



Headlines from WalletPop Partners