Purchasing a Car with Tax Refund
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Anonymous
| Our 2002 compact car is used as a back up to our family van. DH commutes to work in it 3x/week and feels that we must have a second car. Mechanic says it needs $2k in work. DH is thinking about putting that money + $2k tax refund toward a new used car. I think we should repair the vehicle and keep using the 2002 Mitsubishi. Any advice? |
Anonymous
| Putting 2K into a 16 year old car seems silly. |
Anonymous
| It’s time to unload the 2002. You can probably sell it for $1000 for parts though. List it on CL for $1500. |
Anonymous
|
How many miles does it have? The year is secondary. |
Anonymous
Not with all parts. Humidity takes a toll on parts no matter what. Salt corrodes even with low mileage. Buy a Honda or Toyota from 2010 or so. |
Anonymous
| 130k miles. Our van is a Honda and we like it. I am just weary of taking on a car note. |
Anonymous
| ^^wary |
Anonymous
| Yes, wary. But also weary from the other years of paying a car note. ? |
Anonymous
Then don’t take a car note. Buy something with cash. And adjust your withholdings. $2000 is too big of a refund. |
Anonymous
Depends on your income. I pay estimed taxes of about $400k. I’d be thrilled if I came within $2000 of my actual tax bill. |
Anonymous
Do you honestly believe OP is in this situation? |
Anonymous
| Get rid of the 2002 |
Anonymous
| You can find a good vehicle for 4k. I would definitely not put that much? work into an old car unless I happened upon a 67 Shelby that was collecting dust in someone's garage. |
Anonymous
| Time to upgrade to a newer car. |
Anonymous
| Thank you for the advice. What commuter vehicles would you suggest for the $4k price point? |