Should he fix his car up or just wait to buy a new one?

  • Thread starter Thread starter sxychryss
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sxychryss

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My best friend currently has a 95 cavalier sedan which his parents handed down to him when they got new cars. He is interested in buying a new car but has no credit so of course he would need a co signer. He is interested in purchasing a 09 NIssan Altima Sedan. His other option is to fix his current car up (i.e., spray it over, tint over the windows, put in a new radio, and of course work on the engine) The car runs, the a/c & radio works, its just that of course @ times there are some major work that has to be put into the car to make sure it stays that way. I think he should just wait until summer or something & get the new car he has his eye on rather than put even MORE money into the old car that should just get sold to a chop shop. What do you guys think, should he spend even more money on the Cavalier or should he just start fresh and get a new car??
I understand what you guys are saying about the economy but some dealers are bending in pretzels to get sell a car. What car should he consider getting. Civics are out of the question because they get stolen like crazy where we live.
 
Now is no time to take on a payment. what if his work dries up ? with no credit who is going to be anxious to co-sign ? I would just buy a chep used car if the other one cant be put in running condition.
 
He should just clean it up and trade it in on a 2006 or 2007. Insurance will be less. It's still a step up with safety improvements. And I agree, in this economy, nobody is immuned to busted financial surprises. Right now we all should live with in our means, at least until the economy once again can support us living outside our means.

And it's a great time to get a very good deal on a car. American dealers need the business.
 
And the reason he would buy a 2009 Nissan Sedan, who's value will depreciate at a rocketing speed is.....why?


Seriously. The Altima will be worth half of the purchase value, in about three years. Sure hope he pays it off by then, otherwise, he'll be severely upside down on the loan.

And obviously he hasn't been paying attention to the market at all, or he'd know that now is a bad time to get a new car. Much less one on a co-signed loan. Waiting till summer, will not help.

If he has a car, get him to fix the car. NOT fix it up. Skip the tint, radio, etc. Get it running well. Problem solved. Reliable car, for much less than a new car.

Transportation is transportation. If that's what he really needs, then he can get over the fact that it doesn't look the prettiest, doesn't have a cool radio, etc.

Function, before form. ALWAYS.
 
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