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Put myself into a my 1st brand new car and car payment.. by pontiackid86
Started on: 11-24-2012 03:22 AM
Replies: 41
Last post by: DanDamage on 10-21-2013 10:47 AM
rogergarrison
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Report this Post10-21-2013 10:16 AM Click Here to See the Profile for rogergarrisonSend a Private Message to rogergarrisonDirect Link to This Post
Ones I dont like go fast. If I like them like the Ferrari kit or the Sebring, I keep them a longgggggggggg time. I consider 10 years long for a car. If you buy a NEW car and sell it in a year or two, your almost always going to lose a lot of money. If you have a loan to get it, it takes at least 2 years to get from being upside down in it...depending on the length of the loan. One dealer here will finance a car with NO DOWN and up to 9 years. A lot of cars used as daily drivers wont last 9 years these days without major repairs. With depreciation and interest, you have to keep that car at the minimum of 5 or 6 years to not lose your butt. A lot of people end up with a broke down car they either keep having to pay payments on, or having the car repossessed. Lots dont realize that even if its repossessed, the loan company can STILL sue you for any loss they have AFTER they sell it. ie/ you owe $8000 on a car with a blown motor. They repo it and sell it at public auction for $1000. They have a loss still of $7000...and they can take you to court to recover that. So they can put a lien on your house or other cars for the balance you owe them and you still dont have the car anymore.
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DanDamage
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Report this Post10-21-2013 10:47 AM Click Here to See the Profile for DanDamageSend a Private Message to DanDamageDirect Link to This Post
 
quote
Originally posted by pontiackid86:
The payments are not to bad and we got the car for a very Nice price with an extended warranty



We?

Is this for you and your family? Do you have kids? Is it roomy enough on the interior? Did you check the crash rating on the car before purchasing? Also how many cars are you getting rid of? Any Fieros?

[This message has been edited by DanDamage (edited 10-21-2013).]

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