Car Payments

Ron · #1 02-10-2007, 12:57 PM

I hate Car payments with a passion. That is why I have driven cars that have been less than excellent so as to avoid Car Payments.

It looks to me like we may have to get another car through Car Payments again.

What arew your thoughts?

#2 02-10-2007, 01:04 PM

I know how you feel.

The truck we just got rid of was on its last payment when it died.

It killed us to have to start a new batch of payments, just when we thought we would finally be out of the woods...

But... you gotta do what you gotta do.

Get the extended warranty... go for the max warranty that you can get.

Tina · #3 02-10-2007, 01:14 PM

I hate being in debt in general, but I really hate going in debt for a car. It just seems that you can pay $15,000 for something that will instantly drop to a value of half that amount when you drive it off the lot. I bought a Chevy Venture 5 years ago. Made the last payment on it in October 2006. If I wanted to sell it now, the blue book value is approx $4500. I paid $14,700 give or take a few dollars in payments. Just sickening isn't it?!!

I definitely agree with getting the extra warranty package.. I learned on that the hard way with this Chevy. I'll never own another Chevy either... but I won't get into that, someone would send me to the cry room.

Ron · #4 02-10-2007, 01:19 PM

BTW, I would never get brand new! It would be a demo, or a year or two old.
I use to sell cars, so I know about the depreciation.

Thing is, because we do not have a trade in, nor really anything significant moneywise as a down payment, we are either stuck with a higher car payment or a longer term.

Neck · #5 02-10-2007, 01:23 PM

Quote:

Originally Posted by Ron

I hate Car payments with a passion. That is why I have driven cars that have been less than excellent so as to avoid Car Payments.

It looks to me like we may have to get another car through Car Payments again.

What arew your thoughts?

With your thoughts. Buy a reasonable used car to keep the payment down.

You will find it is not much more if you look at total cost of ownership over a 48 month time period.

Than the older cars you have taken to the bone yard.

The car will get better gas mileage, have less repairs and give u peace of mind.

#6 02-10-2007, 02:10 PM

Quote:

Originally Posted by Ron

I hate Car payments with a passion. That is why I have driven cars that have been less than excellent so as to avoid Car Payments.

It looks to me like we may have to get another car through Car Payments again.

What arew your thoughts?

I know how you feel I hate them too...the last new car we bought was our camaro...in 1990 ....I hope we never have to buy another new one...so far the last three cars we bought were used affordable and God made a way for us to have them..they all came just when we needed them...

myhaloisintheshop · #7 02-10-2007, 02:13 PM

We just signed on our new truck yesterday. I HATED having to buy a new (technically used--2004) truck but our car (Taurus) has been giving us fits. My husband is a car salesman and came across a truck he loved and would fit all 6 of us for a decent amount. It just kills me that we are paying off our van this month and now we have another payment...UGH!

crakjak · #8 02-10-2007, 02:21 PM

Quote:

Originally Posted by Ron

I hate Car payments with a passion. That is why I have driven cars that have been less than excellent so as to avoid Car Payments.

It looks to me like we may have to get another car through Car Payments again.

What arew your thoughts?

Maybe you should buy, Dave Ramsey's book "Total Money Makeover" he deals with how to pay cash for a cheap car and slowly over time buy newer and newer cars. Always paying cash. I highly recommend this book for those who would like to always be debt free. We followed his plan and it works, this is the plan for those that a budget never works. Please, if you struggle with finances, do yourself a favor and get the book. Better still sit down with your spouse and commit to being debtfree. Cash goes alot further than credit. Your really can be debt free, including your house.

stmatthew · #9 02-10-2007, 04:25 PM

Quote:

Originally Posted by crakjak

Maybe you should buy, Dave Ramsey's book "Total Money Makeover" he deals with how to pay cash for a cheap car and slowly over time buy newer and newer cars. Always paying cash. I highly recommend this book for those who would like to always be debt free. We followed his plan and it works, this is the plan for those that a budget never works. Please, if you struggle with finances, do yourself a favor and get the book. Better still sit down with your spouse and commit to being debtfree. Cash goes alot further than credit. Your really can be debt free, including your house.

Amen! There is nothing so nice as not having car payments. I think the big problem is that many fail to PLAN, and therefore plan to FAIL.

Go find a car you really love, and find out the monthly payments on it. Then go buy a cheapo car, and pay those monthly payments into a savings account. You WILL build up enough to buy cash, and you WILL save money by NOT paying the interest on the loan, but also make money by having interest paid to you while you save.

MrsMcD · #10 02-10-2007, 04:28 PM

Quote:

Originally Posted by Ron

I hate Car payments with a passion. That is why I have driven cars that have been less than excellent so as to avoid Car Payments.

It looks to me like we may have to get another car through Car Payments again.

What arew your thoughts?

I drove a paid for vehicle for years but I had to much so much money into it that I might as well had a payment. I have a payment now and I also have peace of mind that my car will get me where I want to go.