Fed Financial
financial help?
i am looking for a bit of advice i passed my driving test a few months back andended up getting a rather expensive loan to buy a car,which now i hate the car,it isnt a great car at all,it has no warranty,so financially im broke as i need ot pay all repairs when and if they happen. i am looking to get another car without casing anymore of a dent in my finances?any ideas of advice?
Public Comments
- I suggest you sell the car and consider a lease on a new vehicle. Make sure you can afford the lease payments. The dealer will not look out for your best interest. It's up to you to decide what monthly payment you can afford. Another option is to sell the car and buy a cheap car for cash. My brother and neighbor both buy old $500 cars and drive them into the ground. Then start saving your money for that newer car to buy in a year or two
- You won't come out of this unscathed. It will cost you a lot of money to dump this car and this loan. Sell the car, take the hit on the lost value and pay off the loan. You'll need to pay the balance of the loan out of your own pocket. If you have to get a personal loan to pay off the balance then do what you gotta do. Hard lesson to learn but that's life.
- Did someone twist your arm and make you buy a sub-standard car with no warranty? If so, complain and have them arrested for doing that. If you walked in, said "I want that" and signed for it, then you are pretty much stuck with what you have, at least until the loan is paid off and you can get rid of it.
