I have been stressing myself for the past couple of days because of the dillema i’m in. My car broke down last sunday, leaving it useless and it was sold earlier this week for $500. I bought a Honda recently from a dealership for about 7.8k out the door with the help of my parents and it ended up being a fluke, even after test driving it and inspecting it, the used car still had problems that warranted me to return it.
Overall, I have about 7 grand of savings and am looking to buy another car but after going through several used cars which have been nothing but nightmares for me, i really do not want to get another one. One alternative I proposed was to lease a car within my means such as a entry level Civic or a Corolla since my 7 grand is enough to pay off the full 36th month lease contract. As far as insurance, it will only run me $100 a month because my parents help pay it. In my situation, if i financed a car I would not be sure if i could pay it off in the next three or five years, I do work full time but I don’t know how stable this job would be in the next couple of years, what I do know is i have enough to pay the 3 year lease and perhaps buy the car at residual if I keep saving my salary.
I really do not want to buy another used car because of all my bad past experiences and really do not know if i should go the leasing route because it isn’t the smartest decision in the long run, but I know one hundred percent I can’t afford a finance, nor do i want to shackle myself to my job just to afford a car. As i’m only 21, this is probably one of the biggest decisions i have to make right now. Any advice would be appreciated
October 20, 2017 at 01:31PM
