Is it time to get a new car???
I am new in the military and my wife is also working, and we are trying to decide whether or not to get a new(doesn't have to actually be new) car.
Right now we have a 1990 Dodge Spirit, a little crappo car that we got from her grandmother. It has only 57,000 miles on it and is in pretty good condition. If I shine it up real good it might be worth $1000. I just went to midas and they gave me a $1200 estimate on stuff they want to do. This is probably a little high because it's midas but there is still probably almost a 900-1000 bucks in work and maintenance that should be done. I could do 'some' of it myself but my apartment complex said I am not allowed to do maintenace in my stall anymore - so it may end up being worth it to have someone else do it. Either way, we'll be moving probably across the country next march (I am not sure if I will be able to travel with her) and something dependable would be good for that. So should we bite the bullet and pay to fix the stuff, shoot for 100,000 miles, or should we take the 1000 + sale price (maybe 700 with the stuff that needs to be done) and use that towards a new car??? And, we might need a second car when I get to my next duty station next march. Right now we can easily swing 400/month w/o changing anything , and we pay 50/month for insurance right now.
Your opiinions are much appreciated.
Right now we have a 1990 Dodge Spirit, a little crappo car that we got from her grandmother. It has only 57,000 miles on it and is in pretty good condition. If I shine it up real good it might be worth $1000. I just went to midas and they gave me a $1200 estimate on stuff they want to do. This is probably a little high because it's midas but there is still probably almost a 900-1000 bucks in work and maintenance that should be done. I could do 'some' of it myself but my apartment complex said I am not allowed to do maintenace in my stall anymore - so it may end up being worth it to have someone else do it. Either way, we'll be moving probably across the country next march (I am not sure if I will be able to travel with her) and something dependable would be good for that. So should we bite the bullet and pay to fix the stuff, shoot for 100,000 miles, or should we take the 1000 + sale price (maybe 700 with the stuff that needs to be done) and use that towards a new car??? And, we might need a second car when I get to my next duty station next march. Right now we can easily swing 400/month w/o changing anything , and we pay 50/month for insurance right now.
Your opiinions are much appreciated.
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I'd be springing for a new or used Honda Accord or Toyota Camry. You'll get a ton of miles on them without worry. Also, getting a used one that has been Certified will get you a 7yr powertrain warranty.
You can easily find a NICE one to fit your budget.0 -
If you can REALLY afford it - especially after your divorce - then do what Cubs suggested.
Doug0 -
quote:Originally posted by sabb0007
I am new in the military and my wife is also working, and we are trying to decide whether or not to get a new(doesn't have to actually be new) car.
Right now we have a 1990 Dodge Spirit, a little crappo car that we got from her grandmother. It has only 57,000 miles on it and is in pretty good condition. If I shine it up real good it might be worth $1000. I just went to midas and they gave me a $1200 estimate on stuff they want to do. This is probably a little high because it's midas but there is still probably almost a 900-1000 bucks in work and maintenance that should be done. I could do 'some' of it myself but my apartment complex said I am not allowed to do maintenace in my stall anymore - so it may end up being worth it to have someone else do it. Either way, we'll be moving probably across the country next march (I am not sure if I will be able to travel with her) and something dependable would be good for that. So should we bite the bullet and pay to fix the stuff, shoot for 100,000 miles, or should we take the 1000 + sale price (maybe 700 with the stuff that needs to be done) and use that towards a new car??? And, we might need a second car when I get to my next duty station next march. Right now we can easily swing 400/month w/o changing anything , and we pay 50/month for insurance right now.
Your opiinions are much appreciated.
Your asking for my opinion? Well ok, you asked for it -
If the Dodge has been well cared for and has only 57,000 miles, I would keep it until I got settled at my new destination next March, and save any cash I could. A new car at $400 dollars a month for eight months is about $3200 just in payments. Don't forget to add on any down payment and TTL and higher insurance rates on the purchase of the "new" car. Wanna talk Depreciation? The "new" one would plummet in value over the next eight months, and the Dodge will not depreciate much, if any. So add in another "hidden" cost of $1000+.
Of course if the old Dodge blows up, all bets are off. Forget Midas and find a real mechanic to give you an honest opinion on the life left in the car. Then spend $1000 or so making it right if necessary. The analysis of the Dodge is critical. Find a good mechanic. If he pronounces it sound you are out $700-1000, AND you have NO monthly payment and can carry liability insurance. When you get to your new duty, if the Dodge is running like a champ, keep it for the second car. Wouldn't be worth anything as a trade.
The money (1000 v. 5000+) and common fiscal responsibility lines up behind keeping the Dodge IF it is sound.
Now if you just WANT a new ride, that's a totally different story...0 -
If I had a 1990 anything with 57,000 miles, in decent shape, I would do the maintenance and drive it. 0 -
once a car is paid for, it drives a lot better. stay away from the payments and put that $400 a month you could easily afford in a savings account. 0 -
If you could easily "swing" a $400 a month car payment then you should listen to every word that mateo told you.
My dad buys a new car every six months so of course his opinion was going to be get something newer/faster/funner/more powerful/more comfortable!0 -
I've been able to stretch it out to 8 months over the last couple of years.
Although I do admit that my wallet starts to get itchy around the 5th month.
Doug0
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