• Date Started: Mar 23, 2011
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Advice Please?

7 Responses to “Advice Please?”

1. jperryharris Says:
   May 10th, 2011 at 05:23 pm 1305048199
   1305048199
   I think you should consider buying a certified used car, NOT a new one even with no interest!You can still qualify for 0 interest or possible very low interest a slow as 2% on a used vehicle.Or possibly save up until you can pay for the car with all cash! Also check your local newspaper ads sometimes older people sell really decent vehicles with very low miles on them for a very good price with little to no mechanical issues! Make a budget for what your willing to spend on a car and stick to it, say you deposit $2000 on a certified used car at $10000 thats drops your balance down to $8000 which brings your monthly payment to $333 a month for 24 months which is still too high for me so say you make that same deposit on a $6000 car in really good mechanical and cosmetic condition that would drop your balance down to $4000 with a monthly payment of $166 a month for 24 months! Wow! What a huge difference there! Bottom line is shop around and remember debt is still debt no matter how you look at it, keep in mind alot of dealerships will only finance at $5000 or above. There too many good deals out there to settle for one especially one you may regret later on, Hope I could be of some help. God bless!

2. Miz Pat Says:
   May 10th, 2011 at 06:00 pm 1305050410
   1305050410
   if you don't need the car desperately, save for a bigger down payment

3. Moneysavinmama Says:
   May 10th, 2011 at 06:18 pm 1305051510
   1305051510
   Thank you for your opinions! I do need a car though I can't share my current car with my parents much longer. Dad works 24/48 hour shifts and needs the car. Or a car lol

4. MonkeyMama Says:
   May 10th, 2011 at 06:23 pm 1305051836
   1305051836
   I personally only pay cash for vehicles (or buy something I can pay off within the year).
   
   I wouldn't advise borrowing for 5 years, nor buying a gas guzzler.
   
   Just shop carefully - look for something older but barely driven. Drive it until you save the money to buy more.
   
   I paid $1k for a car I drove 7 years, and $800 for a car that I Drove 3 years (& it never had any issues - sold it before its time).

5. whitestripe Says:
   May 11th, 2011 at 02:17 am 1305080259
   1305080259
   I wouldn't buy a car that requires a lot of petrol. The amount of guilt I would feel daily starting the engine is enough weight on my conscience right there. For those reasons and many others, an SUV does not appeal to me at all - but that's just me.
   Unlike the others, I probably wouldn't have a problem with a 0% finance opportunity - but the real question is, what is the total amount you are paying for the vehicle. $391 payment - yeah. So actually how much is that in total? If you had that total amount of money now, would you go and hand it over for a brand new shiny car, or would you look for a slightly older one? I think a common trap for people is they think in 'payments' not in 'actual cost'.

6. Moneysavinmama Says:
   May 12th, 2011 at 01:24 am 1305163444
   1305163444
   Moneymama, 1000 for 7 years that's crazy! My old Honda only lasted 2 years it needs a lot of work now
   
   Whitestripe; in the end it's close to 23500 after I already put 2500 down...when I look at it that way I wanna say heck no! If go for the cheaper car forsure so maybe I'll pass on the brand-new car... I'm hoping to go car browsing this weekend! Hopefully I find something.

7. Jerry Says:
   May 14th, 2011 at 09:22 pm 1305408132
   1305408132
   I don't think that a new car is the way to go, either, considering the ancillary factors involved. Consider that insurance is more for a new car, depreciation is like falling off a cliff, and even with the low interest it's still going to lead to a loooong payoff. Good luck finding the right vehicle for you, whatever you decide.
   Jerry

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