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Reply to "Fix broken car or trade in and have 2 auto loans? "
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[quote=Anonymous][quote]Buying a used Toyota is a fiscally responsible decision, and of course sometimes cars have unforeseen problems. Buying a used luxury SUV (which was probably close to the same price as a *new* Toyota or Honda), with a six year loan (which signals you can't really afford the vehicle in the first place) is a different decision altogether. Especially when said vehicle isn't the most reliable car on the planet anyway, is known to have a low resale value, and the purchaser intentionally sets up a situation where she will still be paying on the loan when the car has plummeted in value and likely will have significant repairs. It screams "I have to have a luxury brand" rather than "I am making a responsible decision."[/quote] I am not getting your point. A problematic car would lose the value regardless of its brand. I had those stupid computer problems on a "reliable" Japanese car. Turned out to be it was a slowly failing catalytic converter, but the diagnostic wasn't showing it. When it failed completely then somehow all the other problems fixed themselves. You are confusing being frugal with financially responsible. Though, if you are frugal, then you buy an American vehicle: cheaper parts and easier to work on (after all, I assume you do work on your car yourself as you are financially responsible). [/quote]
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