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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 308881  
Subject: Re: New to Fool - financial status(LONG) Date: 11/25/2002 5:12 PM
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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.

Protomolly.
...who might be in the market for a used pickup truck when her debt-free day comes...
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