…and I’m playing around with the idea of selling the Jetta. Maybe get something of equal value/payment that’s more what I want or maybe downgrading to free up my budget a bit.
The credit union at Praxair told me they’d give me a used car loan at 6.99%. Age doesn’t matter, although if it’s more than a couple years old they usually won’t let the loan length be more than 4 years. No problem.
So lets all post our incredibly well thought out opinions!
Think my Jetta will sell for $8k? 93k, good shape, no rust, no real problems. What I might do is call my future sister-in-law and ask if I can borrow her car for a week or two so I can sell mine THEN look for a new used car. That way no risk of double car payments. She’s off at college and her car’s sitting in her mom’s driveway.
I could try and find a used bimmer of equal value, but then I’d still have a German car and a tight budget. :ham:
A cheap E30 is one option, but it’s kind of hard to find a cheap E30.
The crash test ratings on 95 and earlier Civics kind of sucked so those are out. Newer Civic of equal value would probably be a good idea…
This is very tempting downgrade, and then I’d officially be Jam Junior (sell the VR Jetta and buy an old Accord.) I just don’t want to have to start drinking gin…
Maybe I’ll wait till after the Holidays. The sister-in-law is coming home in 3 weeks and will want her car, and I’ll be in BC Canada for one of those 3 weeks…
Maybe I should just keep the Jetta. The clutch, alternator, brakes, radiator, and RCV are all newish and set for a good long time. I don’t think I’m hearing any timing chain noise. The MKIV VR’s aren’t know for the same weak tensioners as the MKIII’s anyways…
honestly…i would try to sell the jetta and get into that accord. i assume you could pay that off in a year (your insurance would drop to help offset making a higher payment for a year). im not sure if you could get 8 for your jetta (if i remember correctly you have an 03, but i might be wrong as im not a VW guy). i like the feeling of being able to change cars if i want and the safety of knowing that you dont need to make a payment.
It’s a good plan, especially with the Civic link you posted. The key is getting something reliable since you have a real job and they expect you to have a real car. Coming in late a few times with the excuse of, “My car broke down again” is not going to cut it there with what I’m guessing they’re paying you.
Aren’t you considering looking for your first house soon (think I remember that from some other thread). If so, getting rid of monthly payments goes a long way toward getting the downpayment/closing costs paid for. If you take what ever you were paying a month and set up your bank to auto-transfer it to your savings, as well as putting away a little extra here and there you’ll be surprised how quickly you build savings.
First part: Yep, I’m making a decent buck now and gotta have something reliable. Also why I’m iffy about getting a beater. I’d have pretty much the only beater in the lot here. As much as image doesn’t matter, it does.
Second part: I bought a house about a year ago, which is why my budget is tight. Oh well, aside from the Jetta, it’s tight for all the right reasons at least.
Eh, I’ve already got an expensive to fix european car that I like. I’m considering changing to something that makes more sense financially, be it short term or long term…
I don’t think I’d call that Civic you posted a beater. To me a beater is a car who’s total value changes +/- 20% depending on the gas tank being full or empty.
lol I don’t mean the Civic. I think that hatch is pretty nice. I meant the 1992 Accord I posted up. Which really isn’t a beater either. That thing’s clean!
This is how every new husband and homeowner should think. Increasing the down-payment will reduce the mortgage payment, and this can be invested in the house but only as per the new wife/homeowner’s relentless suggestions! What a vicious cycle…
Or decrease your monthly mortgage payment, allowing you to save up some money and buy a nice car and other toys when you really can afford them. All while living in a house that is building equity instead of renting a place that is building the landlord’s wealth.
The only real difference that ditching my car payment would make if I were looking for a house is that it would help save towards the closing costs which are a few grand by themselves and reduce my revolving/unsecured debt which would increase my credit score and get me a lower interest rate and thus a lower monthly payment.
One year of my car payment wouldn’t dent my mortgage principle enough to even feel it in my payment.
And she’s gone for sale on here, NCE, craiglist, vwvortex, and soon the buffalo classifieds. I’m gonna suck it up and live with some sort of japanese 4 banger for a while.
