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Thread: what should I do?

  1. Champagne Supernova
    Farfalla's Avatar
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    #1

    what should I do? **UPDATE**

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    I apologize if this gets lengthy but I could really use some financial advice about my car. I don't know whether to do work on the one I have, or get a new one.

    I currently have a 2006 car that I still owe $1400 on. Long story short, I was young when I got it, bought it brand new, and had no idea what I was doing. I got shafted on the interest rate. It was something crazy like 17% . It's also been in several accidents, the most recent last year that I've yet to fix. So it's depreciated. I've had some minor troubles with it and it's due for a lot of work. DH and I were set on getting me a new car, but we decided to instead fix this one up and pay it off.

    Well, I took it in yesterday just to have to assessed and it needs $1200 worth of work. That consists of things like oil change, fuel injector cleaning, belt changed, I need tire rods and new rotors in the back which require new brakes, brake fluid flushing, and tire alignment and rotating. Then on top of that, $500 deductible for the body work. And remember, I still owe $1400 on the car.

    I don't know what the smart thing to do is! Do I invest all this money in an almost 10 year car, pay it off, and ride it til the wheels fall off? Or do I get a new car? What's smarter?

    I'm so afraid to do the wrong thing financially and DH is just as clueless as me.

    Help!

    so, update on my car. I took it for 2 second opinions before doing anything besides having the oil changed. My car was still lurching between gears and my car was rattling all over the place at high speeds. Holding the steering wheel was like having one of those old fashion blubber shakers women use to put around their waist. One place told me it was because all 4 of my motor mounts were bad and it would be $1k to fix. Seeming high to me, I went to another place. They gave me a similar diagnosis and quote and told me my brakes needed to be done asap, too (I already kind of knew this) . I mentioned the shaking to them and that I was told I had a bad tire rod by the first place but they didn't find anything similar. So, I paid the $1100 and had them fix the mounts and brakes. WELL - the car is driving better, but not great. It still lurches sometimes between 1st and 2nd gear and my steering wheel is still shaking bad. I told them I could hear a rubbing type sound when I turn to the left, too. Brought it in - they couldn't find anything. I'M SO FRUSTRATED! I spent all this money and my car is only *slightly* better. I still dread driving it, and now we're out $1100. I don't know what to do. Let it go? Go to another place AGAIN? (It's an incredible inconvenience to keep dropping my car off somewhere and finding a ride to get to and from work). Or do I just continue on my quest to get a new car and eat that money? Halp.
    Last edited by Farfalla; 07-14-2015 at 11:14 AM.
  2. Senior Member
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    #2
    I've used Kelly Blue Book to check the value of cars, not sure if that will be helpful because I've never really had outstanding work but I think if you could get any sort of amount for trading in your car, to do that. Then use that money to put down on a new (or another used car, whatever you decide). Also, if you/DH has USAA, I would go through them for their interest rates for car loans. I've heard they are pretty good. I didn't use USAA when I got my car but my interest rate is pretty decent (according to my dad who helped me with all of it at the time ha) but I ended up choosing a 5-yr loan repayment period. You usually won't need any major work done on a new car within the first 5years, with normal wear and tear, so it's nice that you're not putting more money in to something while still paying it off. Not sure if you have a credit union account or something but I know that's what my dad looked at and basically told the dealership that if they could give us the same interest rate, we would just go through the dealership so that's what we did. Good luck!
  3. Champagne Supernova
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    #3
    Quote Originally Posted by VicDelo View Post
    I've used Kelly Blue Book to check the value of cars, not sure if that will be helpful because I've never really had outstanding work but I think if you could get any sort of amount for trading in your car, to do that. Then use that money to put down on a new (or another used car, whatever you decide). Also, if you/DH has USAA, I would go through them for their interest rates for car loans. I've heard they are pretty good. I didn't use USAA when I got my car but my interest rate is pretty decent (according to my dad who helped me with all of it at the time ha) but I ended up choosing a 5-yr loan repayment period. You usually won't need any major work done on a new car within the first 5years, with normal wear and tear, so it's nice that you're not putting more money in to something while still paying it off. Not sure if you have a credit union account or something but I know that's what my dad looked at and basically told the dealership that if they could give us the same interest rate, we would just go through the dealership so that's what we did. Good luck!
    I finance my car through navy federal right now. I don't have usaa ; DH does but I'm going to be financing on my own. Or try to. DH has some bad marks on his credit. I want at least what I owe on my car, but more would be great. I plan to go through navy fed again and go to the dealership with a check.
  4. Senior Member
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    #4
    Gotcha, well if I were you, I would just want a car that is reliable, no problems and whatnot. If you haven't already, try to get some quotes through dealerships on what they would take for your car. 2006 might be good for parts. When I went to trade in a car, it was a 2001 (this was in 2013) and though it was in good condition overall, it was really just too old for I guess any future resale use or for parts. We thought/were hoping to get like $1000 or so, but ended up only $500. It was a slight game changer for me and caught us off guard...so if you can get a feel for the trade in amount, that might help you!
  5. MilitarySOS Jewel
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    #5
    You still have to pay off that loan.

    I would forget about the body work. That isn't needed now. Unless it makes in inoperable. I would get the general maintance done on it. Brakes, rods, ect. I would also shop around and see if someone else can do the work for cheaper (aka, not the dealer).

    I personally, would fix it and then drive it. Get the loan paid off and then sock the money away. It SUCKS having a car payment. We have our first one in 8 years. I hate the $700 a month and we had an EXCELANT interest rate.
    "Obstinacy is a fault of temperament. Stubbornness and Intolerance of contradiction result from a special kind of Egotism, which elevates above everything else the pleasure of its own autonomous intellect, to which others must bow.: Carl von Clausewitz
  6. Champagne Supernova
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    I'm going through the autoport on base since I have a star card. I'm not sure how they compare to others, but I wouldn't go through a dealership. However,I've had a ton of trouble with this place. They don't get shit done timely and had my car for 2 days because they didn't know they had it.
  7. "If you don't like my attitude, quit talking to me"
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    #7
    Shop around for a mechanic, just because its on base doesn't mean its cheaper.

    I agree with Dakota, get the work done, but only the maintenance. You likely do not need rotors. Unless your brakes have been running metal to metal for more than 6 months, you won't need rotors. Every mechanic tells you that to upcharge you. Rotors are where the expense comes in. You can get away with just brake pads, could even do them yourself. Do you need brake pads? Have the mechanic show you the pads, if they are at least 1/2 inch thick, then they are fine. Brake flushing.. shouldn't need that either. Oil Change, isn't expensive.. you should need anything more than a basic oil change, unless its been years since you've had air filters changed. The rod you will need replacing if it is proven bad (again, I would have the mechanic show you why its bad and why it needs replacing). Tire rotation, probably needed if you hadn't had one done, but that can be done along with the brakes.

    I would for sure take it to another mechanic, probably 2 or 3 to see what they say.Personally, I would use the base auto as the last resort, I would go to a dealer before I'd go on base.. but that's because of my own experience.

    There are 10 types of people in the world, those that understand binary and those that don't
  8. MilitarySOS Jewel
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    #8
    Quote Originally Posted by TrishAFSpouse View Post
    Shop around for a mechanic, just because its on base doesn't mean its cheaper.

    I agree with Dakota, get the work done, but only the maintenance. You likely do not need rotors. Unless your brakes have been running metal to metal for more than 6 months, you won't need rotors. Every mechanic tells you that to upcharge you. Rotors are where the expense comes in. You can get away with just brake pads, could even do them yourself. Do you need brake pads? Have the mechanic show you the pads, if they are at least 1/2 inch thick, then they are fine. Brake flushing.. shouldn't need that either. Oil Change, isn't expensive.. you should need anything more than a basic oil change, unless its been years since you've had air filters changed. The rod you will need replacing if it is proven bad (again, I would have the mechanic show you why its bad and why it needs replacing). Tire rotation, probably needed if you hadn't had one done, but that can be done along with the brakes.

    I would for sure take it to another mechanic, probably 2 or 3 to see what they say.Personally, I would use the base auto as the last resort, I would go to a dealer before I'd go on base.. but that's because of my own experience.
    Unless you need a car to pass a state inspection, just get what you need and pay it over time. It is a 10 year old car; but, runs fine, fix it. Over the next 6 months, get the work done. Seconding the KBB. My 2004 is worth around 2500 and it is a bare basic.

    New isn't always better. I would first fix your credit and then apply for a loan. Otherwise, you are going to be paying in interested again. The longer the loan, the higher the amounts per month.
    "Obstinacy is a fault of temperament. Stubbornness and Intolerance of contradiction result from a special kind of Egotism, which elevates above everything else the pleasure of its own autonomous intellect, to which others must bow.: Carl von Clausewitz
  9. scotlandgrl53
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    #9
    I agree with shopping around for maitenence and only getting nessecities. I agree with Trish that a lot of those sound like things that could be done but aren't really needed to drive the car into the ground.
  10. Dancing Backwards in High Heels
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    #10
    If you have your heart set on a different vehicle, there's no talking you out of it. I talked myself out of a new vehicle for years, and mine was much more than "almost ten years" old, the wheels were almost falling off.

    However, if you are going to get something different, go with a used vehicle. New cars aren't worth driving them off of the lot. I got myself a 2011 and am loving it.
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