Car loan question

[dmclone]

This is what I have struggled with. I have a 2000 Buick Century with less than 75,000 miles. Biggest issue is the clutch solenoid is going out on it. I know if I drop a couple grand I could have it fixed and could get many more miles an years out of it. Really only gets driven by gf for work. Thats the biggest reason I want an upgrade though, so I have something to drive when she is at work or out of town. Besides my work truck, its the only vehicle for both of us.

We have both put together our budgets, and she can afford to buy the car from me, and after all my bills, including car payment and putting money away, I would still clear somewhere around 25% of my paycheck.

Making a lot of assumptions here but that's my specialty.

Your girlfriend and you have a 2000 Century that needs some expensive work and a work truck that I assume is also not reliable.

You're thinking about buying a truck to replace the Century. You're looking at a truck that is less than 5 years old. I'll assume you want a ford, dodge, or chevy 4wd with less than 60k miles. So I'll make an assumption that you're going to pay at least $20k but more likely $25K. You're dad said you can probably get a rate better than 6%.

My question is why not spend $15k on a 3 year old Honda Civic with less than 20k miles. Get better gas mileage, reliability, resale, etc. It doesn't have to be a Civic. Replace Civic with Honda Fit, Toyota Corolla, Camry, etc.

 

[cmjh10]

Making a lot of assumptions here but that's my specialty.

Your girlfriend and you have a 2000 Century that needs some expensive work and a work truck that I assume is also not reliable.

You're thinking about buying a truck to replace the Century. You're looking at a truck that is less than 5 years old. I'll assume you want a ford, dodge, or chevy 4wd with less than 60k miles. So I'll make an assumption that you're going to pay at least $20k but more likely $25K. You're dad said you can probably get a rate better than 6%.

My question is why not spend $15k on a 3 year old Honda Civic with less than 20k miles. Get better gas mileage, reliability, resale, etc. It doesn't have to be a Civic. Replace Civic with Honda Fit, Toyota Corolla, Camry, etc.

1. Work truck doesnt factor into this.

2. Stop it with your reasoning and sense. Who are you, my mom?

 

[00clone]

1. Work truck doesnt factor into this.

2. Stop it with your reasoning and sense. Who are you, my mom?

dmclone can't be your mom...I just got done with her so she couldn't have posted that.

 

[dmclone]

1. Work truck doesnt factor into this.

2. Stop it with your reasoning and sense. Who are you, my mom?

When I was young I went from a 1974 Z-28 w/427 (500+hp) to a used 90's Honda Accord. It wasn't very manly but it made the most sense financially for me at that moment. Of course a few years later I thought I was rich and bought something stupid. I usually do something stupid like that every 10 years or so. I'm great at giving advice to others though on what THEY should do.

 

[cmjh10]

When I was young I went from a 1974 Z-28 w/427 (500+hp) to a used 90's Honda Accord. It wasn't very manly but it made the most sense financially for me at that moment. Of course a few years later I thought I was rich and bought something stupid. I usually do something stupid like that every 10 years or so. I'm great at giving advice to others though on what THEY should do.

I appreciate the solid advice. Now, when it comes to 00, not sure what to do when it comes to his "advice"

 

[00clone]

I appreciate the solid advice. Now, when it comes to 00, not sure what to do when it comes to his "advice"

Well, I can tell you what you shouldn't do....your mom.

 

[cmjh10]

Well, I can tell you what you shouldn't do....your mom.

 

[CyArob]

I appreciate the solid advice. Now, when it comes to 00, not sure what to do when it comes to his "advice"

You should buy a Miata. Totally fits you.

 

[00clone]

You should buy a Miata. Totally fits you.

http://jalopnik.com/5654312/miata-the-answer-to-every-question

 

[CyCrazy]

dmclone can't be your mom...I just got done with her so she couldn't have posted that.

Thats not very Christian of you.

 

[wxman1]

Making a lot of assumptions here but that's my specialty.

Your girlfriend and you have a 2000 Century that needs some expensive work and a work truck that I assume is also not reliable.

You're thinking about buying a truck to replace the Century. You're looking at a truck that is less than 5 years old. I'll assume you want a ford, dodge, or chevy 4wd with less than 60k miles. So I'll make an assumption that you're going to pay at least $20k but more likely $25K. You're dad said you can probably get a rate better than 6%.

My question is why not spend $15k on a 3 year old Honda Civic with less than 20k miles. Get better gas mileage, reliability, resale, etc. It doesn't have to be a Civic. Replace Civic with Honda Fit, Toyota Corolla, Camry, etc.

I just bought a very nice 3 year old Accord the was about that price. It will run forever and is great value.