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Oy to the world: The Car Edition
Dec. 22nd, 2008 08:55 amLong story short: the car is about to cost more in repairs this year than it is worth. (And the combined cost is getting close to what car payments on something else would cost me.) This is making me think "sell" except for two things: I still owe on it and I didn't want more debt in 2009.
So, a series of questions for the Fount of All Knowledge:
1) Is it better to sell it while it has some worth or to keep driving it until it's paid off even though that will, history tells me, mean another huge repair bill and a pity pittance at trade-in later?
2) If "sell," what are the mechanics of selling a car you still owe a small amount on?
3) Can you recommend a small car with excellent mileage and reliable running?
4) The perpetual question: new or used? My father likes new, because then he knows the entire history of the car. I prefer used, in protest of new ones losing a third of their value the minute you drive off the lot. (And we won't even discuss what new would do to my insurance.)
So, a series of questions for the Fount of All Knowledge:
1) Is it better to sell it while it has some worth or to keep driving it until it's paid off even though that will, history tells me, mean another huge repair bill and a pity pittance at trade-in later?
2) If "sell," what are the mechanics of selling a car you still owe a small amount on?
3) Can you recommend a small car with excellent mileage and reliable running?
4) The perpetual question: new or used? My father likes new, because then he knows the entire history of the car. I prefer used, in protest of new ones losing a third of their value the minute you drive off the lot. (And we won't even discuss what new would do to my insurance.)
