UnThreaded | Threaded | Whole Thread (15) | Ignore Thread Prev | Next
Author: Protomolly Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 311084  
Subject: Re: New to Fool - financial status(LONG) Date: 11/25/2002 5:12 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 1
I kept the two cars because of trouble I've had
with renting a car when one was in the shop. Since the older car('96 Sentra) is above 106,000 miles, I don't think that it will last very much longer, as I will be driving it back/forth to Virginia. The distance is what I'm worried about.

IF you are serious about paying down the debt, I vote: get rid of the Maxima. The Sentra is still in its mid-to-late 30s in car years. I had a '92 Sentra and it ran great at 133K (until I smashed it up real good last June). That engine would have gone 200K+ no problem. It's paid off, you like driving it, what's the worst that could happen? You have to pay for maintenance and a $20 rental now and then? (BTW, what's the big deal about that?) Even putting $2000 into it a year you're saving $1000+ vs. payments on the Maxima (and you will not be putting that much into it). Not to mention the additional registration costs on the Maxima, insurance, maintenance, blah blah blah. As the guys on Cartalk say when faced with the should-I-buy question, "It's always cheaper to drive your old car."

I think you're panicking about the service issue. It is not going to require as much service as you think it will. If I'm wrong and it does end up costing you a bundle to maintain, buy a '92 Sentra like mine for $2500 and drive it for five or ten more years. Then when the cards are paid off you can save up a few months and buy yourself an early-2000's Maxima as a very special treat.

...who might be in the market for a used pickup truck when her debt-free day comes...
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (15) | Ignore Thread Prev | Next


TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.