07 accord currently
- body is a bit dinged up but only has like 110k miles
Been borrowing my brothers car as he's been out of town lately
- accord been sitting in drive way ..think it needs a new battery wont start and is not safety inspected for like a year over due So basically it needs some work ..thinking about starting fresh with something else
- I have plenty of money saved up to go buy a car in cash but if I do that then that will take away from what I'm trying to gather for a house down payment ( 27 now parents been strongly suggesting I get a house ) ( renting now )
Do I:
A) lease a car
B) go find another cheap honda /Toyota for 3-5k ~ in cash
C) buy an actual nice car in cash and take away from my down payment for a house
D ) finance a car
E) fix my 2007 accord and get a little more time out of it
I dont really need anything fancy just really don't wanna go car less for the summer
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Today, 09:48 AM #1
Whats the best way to get a car these days ???
Last edited by blueberryboy; Today at 09:54 AM.
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Today, 09:52 AM #2
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Today, 09:57 AM #3
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Today, 09:57 AM #4
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Today, 09:58 AM #5
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Today, 10:02 AM #6
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Today, 10:03 AM #7
I would normally suggest to use cash if you have it, but don’t take away from your house down payment.
There are certain mortgage insurance benefits you can have if you put a certain amount down on a house that can save you more money than you would spend on the interest of of financing a vehicle.
Of course you need to understand all the variables. How much is the house, how much would you need to put down to avoid the additional mortgage insurance, how much is the vehicle, length of the loan, interest rate, etc.
Once you have all that information, plug in the numbers. You don’t even have to think about it. The decision is made for you based on the numbers.
Without any of that information, I feel confident it would be more financially beneficial to save as much as you can for the house down payment and finance a vehicle. Just keep in mind the purpose of the vehicle is to have a reliable source of transportation. Extra gadgets and shiny things are fun, but no debt is more fun. That is my opinion on the matter anyway.
Edit: find out everything that is wrong with your car and determine how much it will cost to fix. I got fixated on the perceived “need” to get a new car, but that was an error.cVc (OIF and OEF): *Retired*
Sorry for perfect english; I have a degree.
“The stories and information posted here are artistic works of fiction and falsehood. Only a fool would take anything posted here as fact.“
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Today, 10:07 AM #8
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Today, 10:11 AM #9
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Today, 10:16 AM #10
Thanks
If I could just get it working enough to have something to drive around town would be great for the summer
I have a feeling all it would really need Is a battery
Body is a bit rough but it isn't rusty at all for a 15 year old car
I'll give it the old college try to get it back on the road and if not or it isn't worth it than fk it
Just put brand new breaks on it ( myself ) before it broke down ..and also replaced both tires and wheels ( used)
So not ready to give up just yet
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Today, 10:17 AM #11
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Today, 10:17 AM #12
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Today, 10:24 AM #13
I'd find out what was wrong with it, and drive that bitch until the wheels fell off. Ded srs. Id' go with E. find out whats wrong with it, get it fixed barring it's something insane, and drive it until the wheels fall off. You throwing 5k at a used toyota is just silly. Save up more money, and put a big downpayment on a more viable longterm option.
No man is your friend
No man is your enemy
Every man is your teacher
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Today, 10:28 AM #14
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