To get a car... or nor ro get a car....
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Anonymous
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DH and I have 2 cars. Both are older. A 1998 (190,000 miles) and a 2004 (119,000 miles). The 2004 will be paid off in 4 months. BUT:
It is in need of A LOT of repairs... totaling at least $3000 according to 3 different mechanics. We do not have the $ to get it fixed, as we are not in a good place financially and are living check to check. The car is currently drivable, but makes terrible noises and could stop running any day. This vehicle is the one I drive... a minivan that holds all the kids. The other car we have does not fit all of us. The minivan gets us to and from school, to summer camp, to family outings, to the local pools, etc.. We have discussed getting another vehicle. This would mean getting rid of the minivan and getting a newer (not brand new, but certified pre-owned) minivan with much less mileage and a better running car. However, this would also mean continued car payments, which we are sooooo close to getting away from in the coming months. My question is... what would you do? Would you chance it with the current minivan and get the little things fixed here and there? Or would you get a newer, reliable minivan and keep having car payments? |
Anonymous
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Don't get me wrong, I love having no car payments.
But I wouldn't chance it with the family hauler. If it quits on you, what are you going to do? You can't afford to fix it, and when it's dead, it won't have the trade-in value it has now. You said you're living check-to-check but you have a payment now and are managing to get by with it. If you can trade in the minivan and get more reliability while keeping the payment the same, that seems doable within your budget (whereas the repair is not). Doing that will remove the risk of involuntarily becoming a one-car family--especially where the one car is even older, and doesn't fit everybody. |
Anonymous
| We are literally in the same situation. We will replace the older one and keep fixing the newer one. We'll keep the older one till the problems get worked out with the newer one. |
Anonymous
| With interest rates still low, I would buy another car. The nickel and diming of repairs just gets worse and worse. |
Anonymous
You say money is tight, but if your credit OK? One thing to consider is that you can often get a new car with a warranty for 0% interest, if your scores are good. Used cars, even certified, pre-owned, have higher interest rates, but the purchase price is slightly lower. I'd go to a dealer and crunch some numbers on both scenarios. |
Anonymous
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just to be clear, it's the 1998 car that can't fit you all, not the 2004 minivan?
If that's the case, sell the 1998. Either way really, sell the one that doesn't fit at least your whole family. You're not going to get much more out of a car with 190k miles on it. It sucks to still have a car payment, but c'est la vie. Get a car that is approx 5 years old, and pay more attention to mileage than year because that is the true age of a car. Try to get a car payment similar to what you are paying now. Get the best car you can, and decide if you want to trim somewhere else in the budget to afford this? i'm sure you've been through the budget a bunch, but time to look at it again. Then, hang onto that car for 10 years+. If you pay off that car in the first 5 years, continue to make the same monthly car payment into a savings account so that in 10 years when you replace it, you have at least part of the money for the next car. (easier said than done, I know). |
Anonymous
| Use WMATA-metro. |
Anonymous
TROLL. |
Anonymous
| Many parents rely on WMATA when they can not afford a car. In fact, some use WMATA because they don't want a car even though they can afford it. |
Anonymous
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OP here.... just wanted to let you all now that we got the "new" car this weekend.
We actually got a certified used vehicle.... much lower mileage than our old one and definitely more reliable. We down-graded all the "amenities" of the vehicle that we had in our old one to make it affordable (no more leather seats, digital controls, heated seats, etc.), but got a safe, reliable car in return. And, our payment is almost the same as what it was with the old car.... actually, $3 less/month! Thanks for your great advice. It was wonderful to get the opinions of others, just to make sure we were doing the right thing and not having "new car envy." It was so nice to run errands today and not have to worry about breaking down. Thank you again! |
Anonymous
PP, I am in the same position- can you advise me on what car you bought and what your rough monthly payment is? I'm searching, but just not sure what kind of car, etc |
Anonymous
| Well, we traded our old minivan for a 2011. A Toyota Sienna. Payment is $400 a month *gasp,* because our credit isn't exactly the best. We went to the Tysons Koons and they were great. |
Anonymous
| Congrats, OP. IMO, a good call. I hope it serves your family reliably for many many miles. |
Anonymous
| Should have just bought a bike instead. |
Anonymous
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Check out car max as well.
And ... I would look into a Kia - very reliable |