Suggestions?

[Brother Adam]

Cam et.al.,

I have excellent credit, Teresa has pretty much no credit either way, but she is the one with the job right now too. I'm also going to see if my CU will finance me, it may be even cheaper than dealer financing if I need to go with a car from a dealer. I've been looking some of the Ford FOCUS where trade-in+cash back+ employee discount right now is less than buying a used car so I wonder if it wouldn't be a good deal.

The only thing I don't appreciate is the dealers treating me like "oh don't waste time on this guy he won't buy anything". I'm also thinking of asking our parents to put the car in their name and we will pay everything on it. My dad just bought a 2005 Ford F-150.

With leasing though, is the entire amount you put into the lease really applied to the total cost of the car? $200 a month is what we were paying. Course insurance on the van was only $350 for the full 6 months.

[jezic]

i would just avoid anything considered a sports car for insurance purposes. They are way more expensive.

[Brother Adam]

ahahahaha...insurance premium estimate for FOCUS car is $1000. So much-eth for that idea.

[Kilroy the Ninja]

Bro. Adam - God Bless you and Teresa!

We feel your pain!

I believe you are on the right track with attempting to replace your car. I know you are worried about the medical bills, and while I don't advocate not paying your bills, in the long run, not paying for a car is worse for your credit than not paying for your medical bills. And I have found that most care providers will still continue to provide care for you as long as you are attempting to pay them - meaning as long as you are still regularly making some type of payment - regardless of size ($10-$20 for example).

I thank God everyday that my mother has offered to give us her used Pathfinder when she pays it off (which will hopefully be in the next six months or so). We have four cars, and only one of which runs (my '94 Camaro) and it has over 200,000 miles on it - so it's barely running. We just sank alot of money into our '77 Dodge truck and it's still not running. So now we're hoping to get the '65 Ford Falcon up and running so Don John can get to work in the fall without leaving me and the kiddo stranded. (The '81 Camaro is at a friend's house just waiting to be completely overhauled - an almost lost cause).

We wish you the best! Try not to get sucked into any deals you feel uncomfortable with! Ya'll are in our prayers!

[jezic]

wow, make me feel bad. ...... I wish you the best. My parents got me a car. Here it is necessary though .... things are really far away and there is no public transport and usually not enough people going to the same place (2) to carpool. :S

[ReinnieR]

[quote name='Brother Adam' date='Jul 15 2005, 08:49 AM']That's really odd then. Toyota, GM, Kia, Ford are all offering 10 year 100,000 mile power-train warrenties, with the exception of some GM that also offer bumper-to-bumper. So that means that Toyota, GM, Kia, and Ford are all crappy cars?
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i believe it's just kia and hyundai with the 10 year 100,000 mile warranty


the rest are only 5. that tells you more likely something is gonna go wrong with the car.

[peach_cube]

I would go to a public library and look up the Consumer Reports issue for used cars. They cover many different topics about used cars and even include tips of what to do when looking. Since it would be a back issue at this point you may be able to sign it out from the library. I mentioned Toyota because they were the top rated used car (in the lower price range) for durability.

[philothea]

I agree with peach_cube. Consumer Reports is the best.

(I love my Subaru, but they're very hard to find used, and a little expensive.)

[God's Errand Girl]

I don't know if this has been suggested yet (since I have not read the entire thread), but there are Christian ministries (maybe not specifically Catholic) in many cities that provide reliable transportation for those who are in a tough place. And it seems that since you have said that you have medical expenses and very little money, maybe you should look into this.
I know that many Goodwills have car ministries, and I also know that God is not a big fan of debt. I'll be praying for you.

[Brother Adam]

I certiantly appreciate the concern. God does not want us to be a slave to money, but almost all people have to carry some kind of debt in order to further their lives and not live in poverty. Be it a car, or house, or college education. We should never buy items that are not a necessity though if it will cause us to go into more debt. I wish they had a car place like that around here, but I'm afraid they don't.

[God's Errand Girl]

I'm not anti-debt. Sadly, you have to have some kind of good credit in our society. In order to do that, you need some kind of debt to build the credit. It's true, but a shame.

I hope I didn't come off like I was hard-core preaching against debt. Since it seems like you are really in some big financial binds, the last thing I'd want to see you do is become more of a slave to debt, though.

Edited July 16, 2005 by God's Errand Girl

[jasJis]

BA,
Owning a car is a necessary evil.
Too bad you don't live in Florida, I could fix ya up. A few years ago, I was buying and selling used cars to make some $$ on the side.. One of my bro-in-laws is a used car buyer for one of the 'big chains' like '[i]Autoway[/i]', and I have some associates who buy/sell on the side. I was buying from auctions and re-selling and relied heavily on my advisors. I did pretty good and learned alot. Here's a few pointers.

-Used cars make better economic sense. You pay too much for depreciation and interest on new with no value in retrun.

-Go to Consumer Reports and look at repair statistics on cars. Generally, (note generally) you'll see that jap cars [u]tend[/u] to be more reliable. You will also note which cars to avoid like the plague. (That's what's MOST important).

-Pick out 2 to 4 makes & models you and T both like, and are generally dependable. Jap cars tend to hold their value better, but some American cars are reliable and are much cheaper. Basic economics, supply and demand. Most people know jap cars are reliable and keep the price up.

-Look for those models in Auto Trader, the paper, and on-line. DON"T buy from a used car dealer unless it's a large chain type. DO prefer to buy from an individual. When buying a used car, you buy from the previous owner. Trust your instincts when meeting the owner and looking at the car, and the one they're driving now. You can't do that with smaller lots. Large chains take theirs in on trade, or have very experienced buyers at auctions. They keep the cream and dispose the rest. They go over the basic mechanics real well because they have the volume to afford a compent and efficient mechanic staff.

-Don't try to use your old car as a trade-in. It muddies the water of a purchase. Deal with it as a seperate issue.

-You'll get your best value from an individual selling a car in the $3,500 to $6,500 range. Beg or borrow the cash before you deal. Borrow from your family or friends or check with pre-approval from the credit-union. Most people don't have cash like that unless they can afford new. The used car lots can finance that. Individuals are harder pressed to get potential buyers. Cash talks, bullsh-- walks.

-Know what the book values are. Go online and price them out with the various Blue Bood and Edmond's type services.

-Inspect the vehicle, inspect the vehicle, inspect the vehicle. Learn to look all over it, open hood, doors, underneath, etc. Really look. You don't have to know what you "it" does when you look at it, but you can see if it's bent, broken, leaky, scratched, newly replaced, newly painted, rusty, etc. Inspect your current used car and take your time so you get used to looking at the parts/areas. Don't forget to inspect the inside. A car is always better cared for on the interior than the mechanics.

-When buying from an individual, they will trust you more if you seem compentent and confident. They won't think you are just 'low balling' them to get a good deal. You will be offering them a reasonable and considered value for their car.

Remember. Your effort will save you hundreds of dollars in the purchase and increase the likelyhood of saving thousands over the life of the car if you get a good one. Don't be shy. What you learn now will help you years later or help friends. Get T involved and make it a [b][u]team[/u] adventure.[/b] Have some fun so it won't be such a chore.

Edited July 16, 2005 by jasJis

[Brother Adam]

Thanks for all of the advice! Here is the odd thing though, after going to several lots and looking ALOT up on the internet, right now I can actually get a reliable NEW car cheaper than almost any used car. And insurance isn't too high on it either. They made me an offer of Employee Pricing + 2500 Cash allowance + Trade in value. Granted, I could get a beat up junker cheaper, but I am thinking this isn't a bad deal and a friend of mine has the same make and model (but its 3 years old) and she's never had a problem. It would be a bit more of a stretch on the budget, but you figure, they've already knocked nearly 6,000 of the sticker price, so it can't depreciate in value that fast... what do you think?

[jasJis]

[quote name='Brother Adam' date='Jul 16 2005, 08:00 AM']Thanks for all of the advice! Here is the odd thing though, after going to several lots and looking ALOT up on the internet, right now I can actually get a reliable NEW car cheaper than almost any used car. And insurance isn't too high on it either. They made me an offer of Employee Pricing + 2500 Cash allowance + Trade in value. Granted, I could get a beat up junker cheaper, but I am thinking this isn't a bad deal and a friend of mine has the same make and model (but its 3 years old) and she's never had a problem. It would be a bit more of a stretch on the budget, but you figure, they've already knocked nearly 6,000 of the sticker price, so it can't depreciate in value that fast... what do you think?
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[/quote]It will still depreciate because it's not new. How can you sell it for close to what you paid for it when for a bit more $$, you can buy it new. New has alot of emotional appeal, that's what you pay for. Basic economics would tell me to offer to buy your freinds 3 year old car and let her buy a new one. (That right there will give you the depreciation idea.) What they are knocking off is New Car Value (Profit). Who would buy it for $1,000 less from you the next day? Since you seem to have New Car-itis, here's a few pointers.
-make sure T is on board with you.
-Decide what payment you want to afford.
-Again, research in Consumer report
-Check your credit union to see if they have special deals with some dealerships like madatory $100 over invoice (this is common)
-Consider buying from a rental company that [u]Has A Warranty[/u]


But I'm married too. My wife won't let me buy a used car for her and our progeny to ride in. I personally hate new vehicles. I mostly drive company vehicles and always asked for a used one. That's why it's got to be a TEAM adventure.

[homeschoolmom]

When we were in Rome, we rented a car (granted-- it was a Daewoo) and it was brand spankin' new-- had four or so kilometers on it. Drove it to Chiusi and it died never to live again. New isn't always great.

[IcePrincessKRS]

No matter what you pay as soon as you drive the car off the lot it depreciates. No slower or faster really, value just goes down with time and miles. My uncle is a car dealer and I've talked to him about this several times.

[journeyman]

Would a bus ticket to Florida and commission to JasJis be cheaper than than new?

Basic transportation is basic - if that's what is needed - focus on that

I paid more than I wanted for my last car (used from a rental company) but it's (6-7 years later) pushing 170,000 miles and (knock on wooden head) still working

[Brother Adam]

Thanks for all of the advice again. We have a car now that was well researched, and is [barely] within budget. but if you knew our budget than you know you could have driven anything over to us and it would be a squeeze. Jas, I didn't and don't have 'new car-itis'. I've been trained well in the school of Dave Rasmey's Financial Peace. But I also know I don't like buying someone elses problems. Which is easy to do when you buy used and turn around and throw a few extra thousand in it only a year later (my last 'sure thing' turned out this way). But we have a Toyota, nice car, within our range for insurance, and it's worked out. Toyota's hold value pretty good, but we plan on running it right into the ground (hopefully which won't happen for a long time).