Spinoff question re cars

[nitemarecooper]

I read the 'cars vs homes' topic and this question came to mind after reading the responses. I didn't want to hijack the topic so decided to start my own to ask this question.

My current car is a 2008 Kia Rio. I hate the car with a passion. I only bought it because my ex wife fell in love with it and was cheaper on gas than the v8 F150 I owned at the time. Very rough ride, poor quality interior, a/c doesn't work terribly well (ok but not fantastic), no cruise control (lousy as I commute regularly), but the rough ride is the worst. I've driven small cars all my life (I'm 37 so 20 yrs of owning small cars) and rented small cars on several occasions on vacations. I have yet to find another small car that steers, handles, or rides as terrible as this piece of junk.

I have slightly over a year and a half left on the loan after accelerating it to pay off quicker and hope to accelerate even further to pay it off by end of next summer or before. I then plan to start saving for a large down payment on another newer used car to drive for 10 yrs or more into the ground.

Here is the basic question: I just want to get some opinions on what other people would do in my situation. Keep a car that is very unpleasant for longer just to save money or accept another payment (hopefully reduced with larger down payment) and get a car you like and can be happy driving?

The worst mistake I made in recent years was getting rid of my '98 Ford Escort, paid off, owned for 8 years at the time to get a newer vehicle because (as everyone knows 'rotflmao' of course) a vehicle that old 'must' be unreliable and ready to die. Ha! How little did I know. I loved that car and never should of gotten rid of it. The escort ended in '99 and I still see the odd one driving around now.

Either way getting another car would not happen for about 2 years for sure and I may change my mind about this piece of junk by then due to wanting to save money, but in light of the 'cars vs homes' topic, I figured it is a good time to find out opinions of others. Thank you to any who chip in an opinion.

[MonkeyMama]

Personally, I wouldn't buy a car with a loan. I'd keep the car longer until I could replace it with cash. Consider it a lesson learned.

On the Ford Escort - the last year was actually 2002. We have a 2001 and it is by far the best car we have ever owned (my spouse loves small cars). {My co-worker bought a 2002 model - they were dirt cheap that year because they were clearing them out - last years - how we ended up with ours}. I share because you only need to save up a couple of thousand to get a 2002 Escort or so. I would absolutely save up the cash and buy something like that while I saved up the money for something newer/nicer. I've spent 10 years driving 2 cars I paid $1000-ish for (& the second car I sold long before it's time was up - could have milked it for longer). This is how I save up the cash for newer/nicer cars, personally. You just have to be a careful shopper, have a trusted mechanic to help you, etc.

Just to be clear - I Wouldn't wait until I had $10,000 - $20,000 saved. You can buy a perfectly nice interim vehicle for $5000 (if you aren't willing to go as cheap as $2k). You then save up the cash for the long-term car you really want.

[nitemarecooper]

Originally Posted by MonkeyMama

Personally, I wouldn't buy a car with a loan. I'd keep the car longer until I could replace it with cash. Consider it a lesson learned.

On the Ford Escort - the last year was actually 2002. We have a 2001 and it is by far the best car we have ever owned (my spouse loves small cars). {My co-worker bought a 2002 model - they were dirt cheap that year because they were clearing them out - last years - how we ended up with ours}. I share because you only need to save up a couple of thousand to get a 2002 Escort or so. I would absolutely save up the cash and buy something like that while I saved up the money for something newer/nicer. I've spent 10 years driving 2 cars I paid $1000-ish for (& the second car I sold long before it's time was up - could have milked it for longer). This is how I save up the cash for newer/nicer cars, personally. You just have to be a careful shopper, have a trusted mechanic to help you, etc.

Just to be clear - I Wouldn't wait until I had $10,000 - $20,000 saved. You can buy a perfectly nice interim vehicle for $5000 (if you aren't willing to go as cheap as $2k). You then save up the cash for the long-term car you really want.

Thanks for the info. Worth thinking about and I likely will do just that, look for something likely a bit older than what I have now in order to get into a car I can actually like and not have a headache and back pain driving due to the rough ride. lol

I had thought that '99 was the last year. My brother once owned an '02 Focus until his step son totaled it in an at fault crash. It was replace by insurance with his current '05 or '06 brand new off the lot. Supposedly the focus was a case of the '00 or '01 was the first year for it. I thought the focus was a straight replacement for the escort but I guess not. The top thing I remember about the early Focus was to avoid like a plague the first model year of it after that it was perfect little car. lol

[snafu]

Why not start some research now for your next ride. 1st can you sell the hated Kia for at least the sum owed? What features do you need in your next vehicle? Look at Lemon-Aid [Edmondson] books [available at library/Amazon [used] to see how your preferred choices are rated. Check e-pinion type sites to see how owners feel about their cars. You could do others a favor by explaining what you dislike about your Kia.

Would after market cruise control and a high quality car cushion ameliorate your dislike of Rio?

[danieldroga]

It is not a practical move to get a car these days. If you are in a tight budget then you should know what to prioritize. Cars are only our secondary needs as an individual, focus more on your basic needs. I believe that as long as your car is working then it'll be fine for now.

[nitemarecooper]

Originally Posted by danieldroga

It is not a practical move to get a car these days. If you are in a tight budget then you should know what to prioritize. Cars are only our secondary needs as an individual, focus more on your basic needs. I believe that as long as your car is working then it'll be fine for now.

I have in mind what I want in a next car, just depends if I go used or buy new (don't want to buy buying Honda or Toyota new can be nice for 10+ years ownership time). Either way I will pay off the current car first in 1-1.5 years and save downpayment after that. Get rid of cc debt and start saving in the mean time.

[jpg7n16]

I see no problem with selling your car, and using the proceeds to buy a more comfortable car.

I would see a problem if you were to say, 'well this $10k car sucks, sooooo I need a $30k car in its place!'


Sell yours for the KBB value, and go buy a different one of equal or lesser value. Maybe you'll find a Ford Escort out there for sale

[bjl584]

Ballpark trade-in value of your car is around $6500. Not sure what you still owe on the loan, but it can't be that much with only a year and a half left on the term. If you have a few thousand saved you could trade it in on something used. Your trade plus a couple thousand of your own money should be able to get you into something that you like with a very small, if any at all, loan. Depending how the numbers work, it may be beneficial to wait until the car is paid off. You will have to just go out and kick some tires and talk to a few salespeople to see how the numbers play out for you.

[LivingAlmostLarge]

Sell it for the loan and then take the difference and what you've saved and buy something else. I drive a very nice 99 corolla and it runs great. I am not looking forward to replacing it. My DH had a 2000 focus and it sucked big time. Such a waste of time and money.

[nitemarecooper]

Originally Posted by LivingAlmostLarge

Sell it for the loan and then take the difference and what you've saved and buy something else. I drive a very nice 99 corolla and it runs great. I am not looking forward to replacing it. My DH had a 2000 focus and it sucked big time. Such a waste of time and money.

The 2000 Focus does suck. It was known as a lemon as the 2000 was the first model year of the car. It was one to avoid. By 2002 the problems were ironed out and the car was very nice and reliable after that. My brother is on his second and his stepson has owned one for a few years now himself.