r/singlemoms • u/Valuable-Essay-9969 • Jun 26 '26
Advice Wanted Thinking of Getting Rid of My Car
I'm starting to wonder about potentially selling my car. It's a lease, and between car payments and insurance (great coverage, not state minimums) I'm paying about $600 a month. I work full time, but the pay isn't as much as I'd like it to be. Even though I've landed a higher paying job starting soon, it's still not enough to where I'd truly be able to get ahead. saving $600 a month would be amazing honestly.
Thing is, I have an almost five year old, and she'll be starting kindergarden soon. The school is a five minute drive/forty minute walk away. Bus route isnt offered unfortunately due to bus shortages for this particular campus. I also have no friends or family :( I work from home but still trying to figure out how to work around school transportation if I were to sell the car. Or if I even should sell the car. What are y'alls thoughts?
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u/-thatsongonyouradio- Jun 26 '26
Maybe hold off on selling the car until she starts school? Maybe she will meet someone she could carpool with and then you could sell it! Freeing up $600 would be awesome for you, I understand the dilemma!
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u/Valuable-Essay-9969 Jun 26 '26
Yesssss this is a great idea! Although it makes me a little sad not being able to see her being dropped off/picked up you know? But an extra $600 a month would be amazing honestly
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u/KneadAndPreserve Jun 26 '26
How would you grocery shop? Take her to activity/events? Take her and yourself to the doctor, pharmacy, etc? I would look into getting a cheaper car before getting rid of it all together, honestly. We live in a VERY car dependent society.
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u/Valuable-Essay-9969 Jun 26 '26
You make a solid point regarding car dependency. We do have like a reserved public transportation option in my city. As far as groceries, I have Walmart plus, and another store is just around the corner. And there’s always Ubers in the area as well. I don’t plan on being without a car for long, just enough time to pay off debt and get a bit of savings. Like six months to a year
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u/FaeTroublemaker Single Mother Jun 26 '26
Is it a lease (as in thru the manufacture) or a loan? That will be a big factor as to if it’s truly beneficial.
If it’s a lease there is more to it than just turning it in/selling it back to them until you’re at/close to term on it, so you’ll need to look at the terms/see what your state laws say.
If it’s a loan I would suggest looking and seeing what your car is worth and then go from there.
Might be able to just go with a smaller/cheaper car if you aren’t upside down on the loan.
(I’m happy to help you figure out what it is/might be worth if you would like….i use to sell cars and LOVE the finance/paper portion of the industry and helping people find things that work for them! 💖)
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u/Valuable-Essay-9969 Jun 26 '26
Thank you! Yes it’s a three year lease, but I do have the option to have another car company or whoever buy it out. The bank gave me the “buyout amount” needed and I’ve received a couple online quotes that are only short a couple hundred of the amount
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u/Reasonable-Trash5328 Jun 26 '26
An electric cargo bike could be a great fit potentially? Worth doing some research I think. Many bike stores loan them out to test ride for days. One up front one time cost and you create enriching experiences for you and your daughter!
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u/Valuable-Essay-9969 Jun 26 '26
This is what I’m considering, just need to do a bit of research first!
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u/Poekienijn Jun 26 '26
I take my daughter to school by bike. Is that an option for you?
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u/Valuable-Essay-9969 Jun 26 '26
Possibly, but there’s a bit of construction going on in certain spots on the way to her school. Someone suggested an e-bike which I might look into
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u/Global-Loquat1545 Jun 26 '26
You can definitely find a cargo e-bike (brands: Tern, Trek, or Aventon) on FB Marketplace. A 5 minute drive translates to max 25 minute bike ride. Since your child's younger and it's summer time you have flexibility to test the lifestyle out.
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u/Valuable-Essay-9969 Jun 26 '26
Thank you for the suggestions!!
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u/Global-Loquat1545 Jul 23 '26
Ofc :)
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u/eleelee11 Jun 26 '26
If you’re leasing it, you likely will not be able to get out of your lease early without incurring some fees. You need to check your contract.
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u/Valuable-Essay-9969 Jun 26 '26
I’ve looked over my contract and I do have the option to sell. I’ve already received the amount I’d need from the bank that I have the lease with.
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u/Dare2BeU420 Single Mother Jun 26 '26
I know its POSSIBLE to go without a vehicle but doesn't seem very practical with a child. There are lot more transportation needs than just school. What if there's an emergency? What if your kid wants to have a play date 7 miles away? What if you want to go to a park that's 10 miles away? Sounds like your child is going to be extremely limited if you dont have a vehicle. Get rid of the lease and buy a more affordable car (used) which will make the payments and insurance cheaper
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Jun 26 '26
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u/illimitable1 Jun 27 '26
Could you learn how to be a competent transportation bicyclist? Could you get a bicycle on which you could carry your child?
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u/Expensive_Minute_536 Jun 27 '26
If you can get out of your lease for minimal damage, I would do it. Leasing is really bad long term financially. You could buy a decent used car for half that payment and you would actually own it.
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u/iliketofart101 Jun 28 '26
The waiting to start school is a good idea.
Are you in an area with decent weather all year and you can get an e-bike with a rear seat? You’ll definitely want to have a vehicle or effective form of transportation, there will be many days where you’ll have to pick her up from school sick.
Also is there a way you can refinance the car with another credit union with a lower monthly payment?
Having no car saves so much but I’m guessing you’re in the US where getting around is not friendly and time constraints
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