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Bought a new car a year ago, probably shouldn't have

Date: Sat, 03/12/2011 - 10:46

Submitted by anonymous
on Sat, 03/12/2011 - 10:46

Posts: 202330 Credits: [Donate]

Total Replies: 3


Ok, well I bought a new car a year ago. At the time I was sick of buying used cars that were breaking down on me, so I said I'm going to buy a new car and not have to worry about all these issues. So I bought a car and probably should have either A) Gone with a much cheaper car or B) Gone with a used car again. The problem with my previous used cars was that I was buying cars that were fun to drive, but not so reliable.

Anyway, here I am now trying to save money with this car payment looming over my head. I have 4 years left to pay off the remainder of this loan (around $11.5k). I was thinking of trading this car in for something even cheaper. Possibly moving into a used Honda or something of the sort, for ~9k. My trade in is worth around $15k so this would leave me financing around $6k for a car about 6 years older.

I'm not sure if I should continue just paying off the new car or go with the older one. I can afford the new one, but since I'm moving into a new apartment, between the payments and insurance money will be a little tighter than I'd like.

Any advice is appreciated!


If you feel that it will be difficult for you to make the payments and insurance after you move into a new a apartment, I will suggest you to continue with your present car and it's payments. Once you settle down there and when your situation is better off, then you can sell off the existing car and look out for a new one.


lrhall41

Submitted by Anna Sweeting on Sun, 03/13/2011 - 19:45

( Posts: 1827 | Credits: )