I'm looking for your advice KMC

I'm a real estate appraiser and considering buying a new car. I drive about 20K miles per year. My current car has almost 66K miles. I have 3 interior rattles that will need 2 door panels and the dashboard removed to fix. I also have a front end issue (CV joint, axle or a tie rod). I also need 2 tires and the front brakes are due to be changed soon.

My options are getting my current car fixed and pay it off, or buy a new car while dealerships are desperate. As is stands now with payments, the new car will cost me $75-$80 more per week. But I'm saving $40 per week now since I restructured by cell phone contract and got rid of cable in favor of Hulu.

If I pay the current car off I'll have no car payments and my insurance will go down about $100 per month. I would have to pay off about $10K for the current car. Regardless of a payoff for my current car, or down payment on the new car, I'm still spending $10K.

Let me know your opinions.

What certified pre owned in the model you like? Many people are selling their cars and dealers will certify them. New cars are such a waste of money because of the depiction etc.

I always buy low mileage one owner cars and have always had great results

Originally posted by BrolyBlack
What certified pre owned in the model you like? Many people are selling their cars and dealers will certify them. New cars are such a waste of money because of the depiction etc.

I always buy low mileage one owner cars and have always had great results

I will save anywhere from $5K-$6K buying used with under 20K miles. But the interest rate jumps 2 points regardless because new car loan promotions. That's why I've ruled out used, unless I find something with under 5K miles.

I can't comment really because of the 3 cars I use I only own one and I bought it so my dad who is 91 can use it in the uk and I can use it when home. So tbh... because my cars are cars provided for me and have been for 10 years I'm simply not in any position to say.

Originally posted by Badabing
I'm a real estate appraiser and considering buying a new car. I drive about 20K miles per year. My current car has almost 66K miles. I have 3 interior rattles that will need 2 door panels and the dashboard removed to fix. I also have a front end issue (CV joint, axle or a tie rod). I also need 2 tires and the front brakes are due to be changed soon.

My options are getting my current car fixed and pay it off, or buy a new car while dealerships are desperate. As is stands now with payments, the new car will cost me $75-$80 more per week. But I'm saving $40 per week now since I restructured by cell phone contract and got rid of cable in favor of Hulu.

If I pay the current car off I'll have no car payments and my insurance will go down about $100 per month. I would have to pay off about $10K for the current car. Regardless of a payoff for my current car, or down payment on the new car, I'm still spending $10K.

Let me know your opinions.

I think there's two aspects to it, one what do you want, and two what is most financially prudent. Ideally you find a good compromise of those.

If you want a new car that may be very valuable to you, if you want to save money I would assume that using your old car, or what BrolyBlack said is correct, and that used car with low mileage is better than a new car.

I think the Hulu canceling has little impact on whether it is a good deal, though it may make it easier for you to afford it, you could also use the 40$ a month for something else.

Originally posted by Old Man Whirly!
I can't comment really because of the 3 cars I use I only own one and I bought it so my dad who is 91 can use it in the uk and I can use it when home. So tbh... because my cars are cars provided for me and have been for 10 years I'm simply not in any position to say.

holy hell, that guy really be tough, i rarely see 90+ able to drive cars anymore, respects

I meant to say

“What about a certified pre owned model that you are into.”

Originally posted by gold slorg
holy hell, that guy really be tough, i rarely see 90+ able to drive cars anymore, respects

Originally posted by Badabing
I'm a real estate appraiser and considering buying a new car. I drive about 20K miles per year. My current car has almost 66K miles. I have 3 interior rattles that will need 2 door panels and the dashboard removed to fix. I also have a front end issue (CV joint, axle or a tie rod). I also need 2 tires and the front brakes are due to be changed soon.

My options are getting my current car fixed and pay it off, or buy a new car while dealerships are desperate. As is stands now with payments, the new car will cost me $75-$80 more per week. But I'm saving $40 per week now since I restructured by cell phone contract and got rid of cable in favor of Hulu.

If I pay the current car off I'll have no car payments and my insurance will go down about $100 per month. I would have to pay off about $10K for the current car. Regardless of a payoff for my current car, or down payment on the new car, I'm still spending $10K.

Let me know your opinions.

I recommend you continue repairing your current car, look for more wiggle room in your budget, and save/invest cash to buy any cars you get with only cash.

Watch this video on how to get the best deal on a car with only cash (it's a damn good watch - seriously, watch this video):

YouTube video

If it takes 5 years to save, it takes 5 years to save. The only debt you should acquire is your home and education (for a usable/high utility degree). Everything else should be cash.

If you want to take advantage of frequent flier miles with a credit card because you travel a lot, always pay off the card and never make flight purchases you do not have the cash for. There are other exceptions like this. But the rule should always be "immediately pay it off and only make the purchase if you had the budget for it already."

A picture of the Scalebags ACTUAL car!

What kind of car do u have now?

Originally posted by Raptor22
What kind of car do u have now?

This one!

Aren't you paying attention?

Originally posted by Badabing
I have 3 interior rattles that will need 2 door panels and the dashboard removed to fix.

that narrows it down to a Ford or a GM...I'm gonna guess you own a Ford.

Originally posted by Bashar Teg
that narrows it down to a Ford or a GM...I'm gonna guess you own a Ford.

Three Words:

Blue Ford Mustang

yes I did own one of those. also a cadillac ats awd, since you're keeping records. fun cars, but not worth investing in when they age.

Originally posted by Bashar Teg
yes I did own one of those. also a cadillac ats awd, since you're keeping records. fun cars, but not worth investing in when they age.

Alright.

make sure you jot that down in your little pvs scrapbook

Originally posted by Badabing
I'm a real estate appraiser and considering buying a new car. I drive about 20K miles per year. My current car has almost 66K miles. I have 3 interior rattles that will need 2 door panels and the dashboard removed to fix. I also have a front end issue (CV joint, axle or a tie rod). I also need 2 tires and the front brakes are due to be changed soon.

My options are getting my current car fixed and pay it off, or buy a new car while dealerships are desperate. As is stands now with payments, the new car will cost me $75-$80 more per week. But I'm saving $40 per week now since I restructured by cell phone contract and got rid of cable in favor of Hulu.

If I pay the current car off I'll have no car payments and my insurance will go down about $100 per month. I would have to pay off about $10K for the current car. Regardless of a payoff for my current car, or down payment on the new car, I'm still spending $10K.

Let me know your opinions.

Originally posted by BrolyBlack
What certified pre owned in the model you like? Many people are selling their cars and dealers will certify them. New cars are such a waste of money because of the depiction etc.

I always buy low mileage one owner cars and have always had great results

My armour plated Toyota 4x4 and armour plated G Wagon (only get it very rarely) pale in comparison.

So Much First World White Privilege on Display in this thread.

Tsk Tsk Tsk.