Car Payments
 

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.

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.

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. :D

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.

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.

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...

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!

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.

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. :clap

I second the above. We have a Toyota and a Honda that we bought new because I was tired of dealing with cars that broke down constantly. My husband is completely deficient in car knowledge and it is worth the car payment to not have to deal with the problems.

Re: Car Payments
 

I have always driven used cars.

I bought my wife a new car in 2006 (She deserved it) on my birthday.

I rest easy knowing she is ok when on the road.

Ron

Re: Car Payments
 

This is a old thread , but if it is ok I to would like to post in it. I am totally against car payments . My bible tells me God wants us to be lenders not borrowers . I have not had a payment on my cars or houses for years .I set my goals that we would be debt free and stay that way . I do understand everyone is not as mechanically gifted as I am but everyone you are smart enough to find a good mechanic and have him inspect the vehicle you want to purchase . So what if it cost a little to have it looked at . Is it better to find a older car that has alot of life left in it and have no car payments or have the stress and hassle of car payments ? I have bought and repaired over 200 cars and am now trying to find other cars to help people to have good rides and no payments . Why is it everyone feels they have to have the newest car . They are a total waste of money . All while you are driving that vehicle with payments if it breaks down you still have payments and now a repair bill as well. The 1st month we became debt free my wife blew up the engine in her car just because she didn't want to stop . Of course I was fit to be tied when my son told me dad I kept telling her to stop . LOL but after I calmed down I put her in one of my trucks and bought a engine and had it installed and told her you know the good thing about all of this ? She said what ? I said we can write a check and go on .

Re: Car Payments
 

Old? You must really live in the fast lane, the last post before your was two days ago. :TulsaTime:

As I said, my wife deserved it.

I have always driven used cars because I can repair them (That skill resides with more than a few).

But two years later when she fixes me a special dinner and kisses me and says, I love my car; thank you.... Son, I'm ready to get her another one LOL!!!!!!!!!!

Ron

Re: Car Payments
 

What he is referring to by old is the post date before your first post on this thread LOL :)

Re: Car Payments
 

So, like me, you also sit in a tree branch and watch the replies to your posts!

HA! :ursofunny

Ron

Re: Car Payments
 

Actually brother I am glad you brought it back to life . I wish all my brothers and sisters in Christ were debt free . Amazing Grace is correct on my thoughts but it's all good .

Re: Car Payments
 

Hey brothers and sisters I am back!!!! Wait til you see my new post on this "OLD thread" LOL

Re: Car Payments
 

Welcome back!

I'm driving a 2003 Honda Element and a 2016 Honda Fit, both run great!

Re: Car Payments
 

Cars don’t last anymore. I have been in the automotive field for nearly 30years. Recently I have been working on 2018’s with major engines issues with no fault of the owners. All the late model stuff have so much technology linked together with impossible emissions control laws that destroy the engines for the sake of fuel mileage and pollution control. Ironically I don’t think they are getting better fuel economy.

Re: Car Payments
 

I agree.

I’m 2nd Gen Dodge guy myself. Had a 01 Dodge 3500 24V with 500,000 miles on it when I sold it, original engine. I currently have 00 Dodge 2500 24V, looking to surpass the former with miles.
I was tempted to buy a Mega Cab Cummins, yet I don’t like the newer stuff, and didn’t want any debt.

What do you think about the electric vehicle craze?

Re: Car Payments
 

I have a 2011 Nissan Xterra. It's the last "new(er)" car I'm buying unless I stumble across a pot of gold somewhere.

I also have a 1972 VW bug with a new motor in it. Simple, runs great, easy to work on. No computer chips or delicate sensors. Easy peasy.

Also have a 74 Dodge Charger. It runs but I need to replace bushings up front. I plan on rewiring it too, simplify things a bit.

Modern cars are overcomplicated junk.

Electric cars are an even bigger scam.