Please help me make a decision on a second car

[Holly_Hobby]

My husband's lease is up next week and we'll be returning it then. I have a 2008 Dodge Nitro, two years left on the lease.

We won't be buying another new car due to the economy and either one of us could be losing our job at any moment. He wants to take my car, since I only drive 3,000 miles a year now, since I work from home. I don't need a new car for that.

So my great uncle passes last month and leaves a 1984 Cadillac Coupe DeVille in his estate to be sold. We were offered the car for $5,000 because it's spotless and has only 42,000 original miles. My great uncle adored that car and took very good care of it. He put new tires on it last year, there is no rust and it's never been in an accident. Everything still works.

Our mechanic says parts are still available if we would ever need anything. Our insurance company says a liability-only policy would be $275/year, as apposed to the $600/year I pay now for driving my car 3,000 miles.

We can pay cash for this car. My question is, it's a gas hog. Would I be better off buying a newer used car or low riding in something like this:

[Holly_Hobby]

1. I have 7 or 8 Yes's and no No's.....

Can anyone give me good reasons not to do it?

[Gold Metal Flake]

2. I would not.

You can get a newer, more efficient car for less.

I just bought a 88.6K mile 2001 Ford Focus wagon, fully loaded, in excellent condition, will get 28-30 MPG on my commute (just like my 2007 Focus does), one owner, runs great for $2900.

Money tight? Save it.