Answers

$12k negative will never go away if you keep rolling it, obviously. If you get something else, you'll just be in the same position. It would help to know what you are driving now. Unless it is a coupe with no trunk, it may work for you. People seem to think they need more car than they do when they have kids. My parents managed cross-country trips with 3 kids in a compact sedan, and you can hear many similar stories from other folks. Our modern concept of space has just grown to unrealistic proportions, in my opinion. Anyway, I don't see burying $7k into another car. Can it be done? Sure. Just shop around for something with big rebates. Is it wise? No. Is it necessary. Maybe not. Why not hold out till after the kids arrive and see where you are at?

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Thank you for your response. The car I drive now is a Chrysler sebring convertable. The back seat is so small. You are right about wanting more space not needing it, but in this case I think with my 13 year old son and twins I might not be able to make it work. Thank you for your answer.

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With your beacon score and $5k down, you can certainly work a deal on a new vehicle. It sounds like a minivan would be the best order of business because you'll need to hang onto that vehicle for a good bit of time.

Find a reliable, safe minivan that you like and work up the numbers. I don't think you're stuck by any means.

Congralations and good luck!

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Sorry, elle, I missed the part about having another son already. That would indeed be a problem fitting 2 carseats and a teenager in the backseat of a Sebring.

I do have another suggestion, however. Rather than rolling negative equity, I would say keep the Sebring and get another vehicle altogether. I'm sure you don't all travel together all the time, so the Sebring will still see plenty of use. You could either find a $5k vehicle to suit your needs (if it doesn't see much road time, an older vehicle shouldn't be a problem if you find a nice one) or you could put $5k down on a decent $10k used minivan (I see plenty of MPVs with low'ish miles in this pricerange) and have a very manageable payment for 3 years.

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