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Unread 06-25-2013, 05:11 PM   #1
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Lightbulb Working the system (Rental vs Owning)

Here is the scenario:

I am getting married in Idaho in a couple months, honeymooning in Southern California and after that we are going to reside in Louisville, Kentucky. I own a midsize car and could possibly drive it round trip (Kentucky-->Idaho-->CA-->Kentucky) but the problem is I won't be able to fit my Fiance's belongings along with the wedding presents in a midsize car. Also, I have a ride to Idaho initially from Louisville in someone else's car. And we can also borrow her parent's car to get down to So. Cal and they have a way of getting it back up to Idaho. Also, she doesn't have very many things. We could probably fit all of her stuff in my car if there weren't wedding presents to worry about. So here are the options:

1) Drive round trip. Cram everything we can in my car and ship the rest via UPS. (Shipping costs = lots of $$$)

2) Use my resources and get to CA for cheap and then rent a mini van one way for ~$800.

Now number #3 is the radical idea. That I think could be the cheapest bet.

3) Buy a reasonably priced mini-van for ~$2000 (in Idaho, Vegas, or So. Cal) drive it to Louisville and try and sell it as soon as possible. Best case scenario? I sell it for what I bought it for and come out even. Worst case scenario? I pick a junker, it doesn't make it to Kentucky and I have to replace the transmission before selling it. Most likely scenario? I buy it for $2000 and it won't sell for $2000 in KY so I end up dropping the price and unloading it on someone for $1700. Or I end up losing a couple hundred dollars somehow.

Notes: Vegas has no sales tax.

Questions:
What do you think of idea #3?
Don't I have a grace period to register the car? Like 7 days or something?
What would happen in terms of car insurance?
Is it too big of a risk?

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Unread 06-25-2013, 06:56 PM   #2
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Just rent a U-haul truck and be done with it.
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Unread 06-25-2013, 07:03 PM   #3
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U-hauls can get really expensive. With the smallest "mom's attic" model and a car dolly, one-way from Connecticut to St Louis (~1000 miles) was ~$1700
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Unread 06-25-2013, 07:15 PM   #4
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You'll lose less money renting a U-Haul than you will buying a crappy minivan, driving it cross country, then trying to sell it when you get there.
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Unread 06-25-2013, 07:26 PM   #5
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Yeah. We are on a tight budget, and we don't need something that big/expensive. Once again, I think something the size of a minivan would fit all of our stuff.

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Unread 06-25-2013, 07:32 PM   #6
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You don't need a box van clearly, you can just rent an Econoline or Express from U-haul, can't you?
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Unread 06-25-2013, 07:50 PM   #7
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It looks like Uhaul only offers their bigger trucks for one way trips, and the cheapest rental option I see is ~$800. That is hitting the road pretty hard too and doing the 30 hour trip in 2 days.

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Unread 06-25-2013, 08:06 PM   #8
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Also have to keep in mind insurance - I doubt you're gonna find an insurance company willing to insure you for a week. Plus title transfer fees, etc.
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Unread 06-25-2013, 08:37 PM   #9
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Can't you get a weekly permit? Buying a minivan or something isn't a terrible idea, I'm sure you could find a beater for $1000 though.
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