Originally Posted By: Bladecutter
Originally Posted By: thr_wedge
I did some math, a 72 month loan with a 10% rate, on a $13000 note (I am assuming Kia Rio, Mazda2, Ford Focus type vehicle) with a full warranty, etc. is going to be around $240-250/month. Gas is going to be 1/4 of what you're spending on these POS guzzlers.
How much are you spending on fuel, and repairs?
Good luck.
He's going to need it to get any lending institution on this planet to qualify him for a car loan.
Not that he would treat a brand new car any better than he does all these other vehicles, however. It would just take him slightly longer to fully destroy it.
BC.
Sigh...I know you're right...
There are buy here, pay here type places, interest rates are high, but it is a way to get into a nicer vehicle (though not new), that I think is probably cheaper than spending $6000+ a year in car & car repairs costs continually getting junkers.
I don't know that OP has ever started with a decent vehicle though...I had a friend 15-20 years ago, he ALWAYS had a POS, he finally got a late model vehicle and stopped destroying them trying to "fix" things, since the car wasn't already on the ragged edge and his mechanical ability left some to be desired.
My point is that I have at least a shred of faith in the OP. Now I'm not going to loan him money, but if he needs some advice feel free to PM me.