Vehicle issues

yellow04

Member
Joined
Aug 18, 2005
Location
Raleigh, NC
I will be paying off the wifes vehicle on Monday. It has 97,000 miles on it and has had electrical issues since day one! We have had to replace the battery at least 3 times and it blows head lights and tail lights like they are free. taking it to the dealer never solved the problem, it just cost us more money. They said it was the stock radio unit once, replaced it and still had issues. Next they said it was the dome light, replaced twice and still same thing. Everything I have read about this vehicle says you either get a good one or one like ours. The car is only 5 years old. So with that being said, should we A. save the payments that we are no longer making and fix it as it breaks or B. trade it in on another car and have a car payment? Let me know what you guys think. Thanks!
 
car

what kinda car? whats the kbb?
 
no thoughts on kia sorry
 
No car payments is really nice! I've had to repair something on either my ZJ or the wife's WJ about once a month for the past few months. The reason I don't trade for something newer is they are all paid for; and if I don't have the money or time to fix it, I can just drive my trail rig and fix the other car when I do have the money or time. If I had a car payment, I would have to make that payment.
 
Save money and buy a USED car with cash. New cars are the absolute biggest waste of money you can buy. What else loses 60% of it's value in 1-3 years? No car payments is one of the best things you can do for yourself. If you have somethign else to drive when you sell it, sell it, save a little, and buy a $6,000 car or something.

Oh yea, don't buy a Kia :)
 
Take the money you're paying monthly now, and put it into a savings account. E.g. keep making "payments" but to yourself instead. Give yourself say 2 years withthsi one, then take those payments youve been making (which will, by then, be several thousand dollars, sellthe Kia,and buy yourself a slightly used but better scale car.

This is pretty much the only way you will ever be able to "move up" in car levels/quality without having toalso incrase your payment size.
If yo ualways switch cars as soon as it's paid off, you will never eally get ahead nor really own a vehicle.

But definitely look out for this - when people say"keep it, have no payment", do NOT fall into the usual trap of just making no pyament into anything and use the money for something else. If you do, you'll find that it is just harder to ever go back to making payemnts (whether it is a loan or savings) in the future, and you'll never have a good car again.
E,g. unless something in life has also come up and cashflow has restricted... you are already accustomed to "losing" that monthly money. Take advantage of that andmake it work FOR you.
 
RatLabGuy, you've study yourself well in good finance and put the right methodology into practice I see! Just got done reading Rich Dad Poor Dad, awesome book!

Definitely try to fix the car. Paid for is priceless. Then pay yourself money to one day upgrade without paying a bank or loan company tons of interest. Besides, cash talks and you can get a much better deal when it's put on the table!
 
Think of it this way.
W/ a typical 5 year loan, a car devalues at around the same rate you pay it off. So if you continue to use that payment planand replace them on teh same terms, you will never get ahead.
Better plan - pay off faster (say 3 years) and keep it longer. Each car can then be an upgrade from the previous.
 
Gmachine said:
RatLabGuy, you've study yourself well in good finance and put the right methodology into practice I see! Just got done reading Rich Dad Poor Dad, awesome book!
Definitely try to fix the car. Paid for is priceless. Then pay yourself money to one day upgrade without paying a bank or loan company tons of interest. Besides, cash talks and you can get a much better deal when it's put on the table!
Click to expand...


rich dad poor dad is a decent book even if the writer is a total fraud and the story is all a lie...Financial Peace is a better guide imho...though i dont adhere to anyone's philosophy 100%
 
SkyHiK5 said:
rich dad poor dad is a decent book even if the writer is a total fraud and the story is all a lie...Financial Peace is a better guide imho...though i dont adhere to anyone's philosophy 100%
Click to expand...

X2 on financial peace

Stick with what you have and fix it as you need to while putting money into a pot for another vehicle and pay with cash when you can. Another good idea is to have an account/fund for emergencies where you put a certain amount of money in each pay check so that if an engine blows, washer or dryer fails, or worst case you lose your job, you have money to fall back on.
 
I believe financial peace is an overall good guide for living responsibly, but that if you are wanting to get deeper in gaining assets it's a bit lacking. I like the fact that Rich Dad Poor Dad pushes your educational IQ.

To each their own.
 
once you pay it off save the car payment money and go to this guy. http://ebwayllc.com/ I bought the XJ I currently drive from him about 4 years ago and it's still running strong just regular maintenance.

I have never liked kia or any other new car for that matter since they almost always have to be taken to a shop to get connected to a computer. I'll take an older car I can fix myself any day.
 
Back
Top