Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I got an unexpected surprise when a neighbor's tree fell on to my 05 Acura TL while it was parked in my yard. I wasn't terribly upset when i found out they totaled it. This was my first car, I bought it in 2012 and probably overpaid for it because I was car crazy. The $250 car payment wasn't so bad but the insurance was another $250 a month. It required premium gas and not great fuel economy with a V6 engine. I had no idea what that was at the time but when they told me it was a powerful engine, I was impressed. As the car required more maintenance and upkeep I just couldn't keep up with it. It was a great car, but not for me. so I'm happy to be rid of it.
I still owed around $5000 on the car (crazy seeing as the car is over 10 years old) but I had decided to move the balance to a credit card that offered me a promo rate for 18 months. So as far as the insurance is concerned, I owe no money on the car and got a $6700 check after $1000 deductible. Can't complain about this because just browsing craigslist, it's unlikely I would get that amount anywhere else.
So I have $7000 to shop for my next car and would like to not be a gullible dumbass about it. Any advice?
I'm tempted to put the money down on a newer car . I have great credit so I don't think financing would be an issue but the thought of paying comprehensive insurance on a financed car makes me want to cry.
I've been browsing craigslist and auto trader for a car that costs around $6000. But most of the cars in that range are high mileage and I'm nervous about anythings that's not Honda or Toyota. I would also prefer something AWD or 4WD since my FWD has been an issue in the winter time.
I wouldn't be afraid of quality manufactured high-mileage vehicles so long as they've been serviced (preferably at the dealer). If the 90K maintenance (the big one) has been performed, you should be good for quite awhile.
1. good call on Toyota. Only ones made in Japan. I'd stay away from Honda unless it's made in Japan Fit.
2. I am confused. So do you still owe $5000 or not?
3. You should not be buying a used car on Craigslist. Find someone who can do this for you.
4. Unless you are still concerned with things irrelevant like "power" and "looking khool", Prius is about the best car out there. Unless you must have all wheel drive, some areas of the country do, so then Subaru is about there. They now have Hybrid version but it's a new model so it's not on your shopping list.
5. In that price range buying used, I'd not be even considering comprehensive. Why? Car is not worth the expense. Also, you need to learn how to shop for insurance. My son pays less than a hundred a month for 2011 Civic, liability plus uninsured.
Looks to me like you have $2000 to buy a car, not $7000, since you still have the $5000 on your credit card. When does the promo on the credit card run out and what will the interest rate be after that?
Stash $5000 somewhere so that you can pay off the card before the promo ends.
Look for a used car that will have better gas mileage. I got my current car from a dealer. It was returned at the end of a lease and was low mileage and in great shape.
Why is the insurance premium so high? I'm paying about $60 per month with the same deductible you have. Is that rate based on your driving record or your location? If it is your driving history, start fixing that now. Talk to your insurance agent about ways to reduce the premium.
I'm not really worried about the balance on the credit card. I have money saved to pay most of it at this point and I recently got a raise at work. Im just choosing not to pay off the balance until it comes in due in 6 months.
I've switched insurance companies almost every year after shopping for better rates. The best rate I was able to get was recently at $200/month. I also have 6 points so that's probavly why. I was told they would come off soon but for now it is what it is.
I got my white car off eBay for $3,500.
One little old lady owner with 52,000 original no accident miles.
Got all of the service records since new.
No rust looks almost new.
Is it a fancy car? No, but it good reliable car. Nice riding comfortable car. Even has power windows, power mirrors, and power drivers seat. Has a real radio too !
So let's see. Poster is in debt for at least $5,000. Poster made a mistake with last purchase of car.
And asking if he/she should make another mistake.
Get a new Nissan Versa base model. The payments will be cheaper then that fancy used car that you are seeking.
So what is your unsecured debt total that is on that credit card where you start paying interest in 6 months? Is it $5,000?
The odds of you being able to continue the 0% interest credit card promo rate indefinitely are pretty much zero. You need to pay off that unsecured debt before you start getting slaughtered with high interest payments.
You're paying $2,500 in auto insurance and you don't have collision or comprehensive?
Pretty much nobody needs AWD/4WD unless you're in a 200"+ snow belt microclimate in mountain country or live down a long dirt road. You need snow tires.
If it were me and I had a lousy driving record where I was getting slaughtered on auto insurance, I'd take a hard look at what different model cars cost to insure. You want the lowest risk car even if it's pathetically boring and you want to drive the freakin' speed limit until those tickets clear off your license. You can't afford speeding tickets and you can't afford a car that's expensive to insure.
Here's one list of boring cars : https://www.nerdwallet.com/blog/insu...surance-rates/
I see a minivan in your future.
Ifor you have great credit, try to score 0% financing on a reliable new car that will last you 10+ years.
I'd say a year or 2 old, but no one offers 0% on used cars.
The problem is the guy is going to get crushed on insurance if he's already paying $2,500 for a bare bones liability/medical policy. The OP needs to find out what the insurance would cost before going down that path. A 0% econobox might have $4,000 in insurance to add collision and comprehensive if they're already paying $2,500. Insurance would be way more than the car payments. The OP is probably going to have to buy a cheap-to-insure beater until those points go away.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
