- This topic has 64 replies, 1 voice, and was last updated July 22, 2008 at 3:52 pm by .
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You may want to consider the miles per gallon you’re getting. My
hubby was contemplating whether to sell his pickup (was getting ready
to need some costly repairs and it was very high miles) and get
something different. It didn’t get very good gas mileage (with his
commute was making it ouch). He was looking at used cars originally
(really didn’t want a car payment) but he did some number crunching
and he’s saving enough money in gas just for his commute to work to
pay for a new gas-efficient car (as prices keep going up his deal gets
better). Never in my wildest dreams did I ever think he would ever
ever buy a brand NEW car. If you do not have a very long commute it
may not come out as well, but if you do be sure to look at gas
efficient vehicles compared to what you have. Of course you can look
at used gas-efficient vehicles. My hubby did but said there wasn’t
much price difference for the deal he was able to get and it made
better sense to go for the new (factor in maintenance etc).
In regards to selling your car and getting a beater…..the advantage
of doing so would be that you sell the car for more than you owe on
it, pay off the car, take the cash you have left over and buy the
beater. Then you have a car w/no payments and then you have money
freed up to pay other debts (unless you end up with something that’s a
gas guzzler and you end up spending all you’re freed up money on gas
that you wouldn’t have otherwise). Do some number crunching first.
trisha
> I have a question about selling the car for a beater.If you sell a
car that has a loan on it, you are still responsible for paying that
loan off. So, if you sell the car and get a beater, even paying cash
for the beater, you still have the car payment for the car you no
longer have. Or am I missing something? It is not like you get the
money that you are currently paying for the car freed up to pay on
your other debts.Can someone clarify this for me if I am
mistaken?Thanks!Herlean—
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