Really need car advice
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  1. #1
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    Default Really need car advice

    I really need some opinions on cars. I had an old Honda and it's not worth putting money into anymore. I kind of bought a car off my parents only cost me 700 but they are gonna need it back soon and will give me the 700 back. I need a good reliable car because I will be traveling with kids in the car all summer. My original plan was to save up 2500 and buy a car but I'm scared I'll get into the same situation I'm in now a beater that'll only last a year and require lots of maintenance. I then thought about getting a brand new car but in the end that would cost about 26000$ and as nice as a new car would be with lots of warranty but wow that's a lot of money in the end. Now I'm thinking about getting a 7000$ loan from the bank and getting a car that's around 5000-7000$ that would be more reliable. Paying 3000 down on it by the end of July and then paying the rest off in about 13 months if all goes well. I would have 5-8 years to pay it off but id rather get it done sooner. Okay opinions please! What do I do I need a car in the next 2 weeks!

  2. #2
    Registered User frugalfranny's Avatar
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    No help here.............too many "ifs" have to go into
    the equation.

    What is available in your area? What do YOU require for a car?
    Have you already gotten 'ok'd' for the loan? If not, R U sure you
    can get one?

    If you are worried about 'fixits'...........get a car that is certified....that will help some........but not sure they are in your price range.

    Good luck in your search..........think you best start looking....2 weeks is not very long to find a car. Would guess that you want to shop a little............

  3. #3
    Registered User Daisygirl's Avatar
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    I work at a car dealership ( have for many years ) so I have some input that may help you make your decision.

    ~ Beater ~ The thing about a beater is that you know you will have to put money into it. The beater that you know is sometimes better than the beater that you don't know ( Devil you know, devil you don't - hahahaha ) I drive a beater and I figure the money I put into it for repairs is basically my car payment. However, because of my job, I have guys I know and trust to work on my car, get my parts at a discount, and can put repairs on my account at work if needed. - Big bonus most beater-drivers don't have. Also, with a beater, most folks only carry liability insurance - big savings!!!

    Better-than-beater ~ The $7000 price range car is always a risk. You figure it's going to be better than your beater but there could be hidden problems just waiting to crop up. You don't know how the car has been maintained for the most part. If someone has not had regular oil changes or transmission services, the engine or tranny could be ready to blow - both outrageously epensive repairs. If you are lucky enough to know the previous owner, though, and the car has been well maintained, you may stumble onto a real gem. If you are borrowing money to buy this car you will need to have full coverage insurance as well as liability.

    New ~ New cars - the smell of them, the warranty, the BIG MONTHLY PAYMENT!!! I loved driving new cars - it's all I drove for many years because I really hated the inconvenience of having car trouble. When your car is under warranty, you are basically guaranteed a safe adn reliable vehicle to drive for about 3 years, give or take a little. If your car is in the shop, you usually get a loaner at no charge. You aren't out of pocket for most repairs (not including wear and tear items like brakes). However, you will have your monthly payments and higher insurance costs for full coverage plus liability. When you take this into consideration, a new car is pricy to drive.

    I know this doesn't really give you an answer but I hope it gives you some information that helps you make the decision that is right for you.

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  5. #4
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    Not all beaters need much in the way of maintenance or repairs. Finding one of those may be difficult, though. I've scored my beaters from old ladies. They were relatively babied as far as how they were driven, but they were old and inconsequential parts were failing, such as the power windows. Outside trim was held on by non-galvanized screws or duct tape, things like that. Are you able to do simple maintenance yourself, or do you know someone that would be willing to help you?

    Getting a small loan can be beneficial, but it depends on all of your other finances. How much tighter would the payment make your budget? Can you handle the new payment, and still be safe if something bad should happen elsewhere?

    It's incredibly unlikely I would ever buy a new card ever again. I've done it once, and while it was nice, the payments didn't make it worthwhile. Couple in the higher insurance, and it really restricted what I did elsewhere in life.

    If it was me, I would look for another car I could afford with cash. Be it a $1000 car, or the full $2500 you currently have available. However, I don't know where you live, what the used car market is like, what your finances are like, or just what is needed for the safety of your family.

  6. #5
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    Thank you all so much. I'm still on the fence at what to do, I really don't have anyone that can help me do anything with the car and I know nothing about cars. I'm pretty sure my mechanic also knows nothing about cars... Hes one of my dads good friends but seems useless I take the car in to get a rattle checked he says it's nothing. Same with the clunk and the sqweek. I need a reliable trust worthy mechanic if I'm going to have to repair the car myself. My budget is fairly good I don't have a ton I can cut off, some grocery maybe, entertainment, weekend money, but I don't really want to sacrifice all that... I also put away money to savings each month and could cut back on that and put it towards a car. If I did get a 7000$ loan I'd like it paid off in about 13 months, right now it doesn't seem like there's a ton of good used cars forsale but I am checking every day. Thanks again for your thoughts everyone!

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