Question:
I have a decision to make and was hoping the good people of CarQnA.com would help. I bought my car in 2005. It's a 2001 Toyota Rav4L that had close to 20000 miles on it. Now it is at 46500 miles. It has an extended warranty that expires in July 07. I owe $4500 on it and since I got it it got a dent in the back bumper and the radiator is brand new (less than 8months).
How to save many dollars by buying a use car?
Now here's the problem. I'm going to grad school in September. I really love the car but I won't have the money I have now to keep paying it. Plus I'll have to pay for more extended warranty. I'd like a Toyota Yaris (not sure how good they are but they're small with good gas mileage). If you were in my position would you sell the Rav4 to get a brand new cheaper car like the Yaris or not?
I need car help should i buy? 1997 Pontiac Sunfire?
The goal is to lower my payments considerably or pay the car off upfront and have warranty on it. I don't think I'll be able to afford more than the insurance so I need to act fast.
Thank you.
Answers:
Well, for one thing, if you owe $4500 on the Rav 4 I doubt that you'll end up lowering your payments by trading it in on a new car. KBB says it's worth around $8500 trade in which means you've got about $4000 equity.
I am looking for a car , does anyone know about police auctions?
$12000 for the Yaris minus $4000 from the Rav4 means you'll be financing $8000 plus around $2000 for the TTL and other fees. So to get the new car you'll have to make payments on a $10,000 loan instead of a $4,500 loan. Doesn't sound like a good idea to me.
What's high for an odometer reading?
Why not look into refinancing your Rav4 instead? Toyotas generally don't start having major problems until well after 100k miles.
I have a camry 2.4 bought in 2006 (5,800 km). I would like to sell. What is the best price?
well here is what i think, i think you should sell the car, because i know i wouldn't want to pay that much, but then u shouldn't sell the car, because what if you can't buy another car in time? i think that makes since if not then sorry i tried.I want to buy a car from online. What is a good website?
Sell it, it's at the point of repair.money is the issue. to be honest with u school is more important than the type of car. buy a car out right forget about warrenties. and keep min insurance on it is your best bet to save money. also consider if you need a car at all if your in school how far is your work family and so on. you might beable to do without one for a short time. Good Luck
I really dont understand ur situation by reading ur detail. If you cant afford the $4,500 you owe, then how could you afford a brand new yaris that goes for at least $12,000?
I really don't like extended waranty, because it is somewhat a rip-off. because the money you will pay is good enuff to fix almost anything that could go wrong, save it in the bank rather than giving it to the dealer.
if you are completely depended on waranty work, you should look at Hyundai, and not Toyota. Toyota got the highest reliability rating, but their service are mediocre.
If you can afford a brand new Yaris, obviously you are capable of paying off ur rav4. just keep it til you graduate (again).
At 46000 miles, your Toyota has a lot of life left in it. You are very close to paying it off and then you'll have no car payment. If you need to lower your payment, consider refinancing the remaining balance into a 18 or 24 month note.
I lost my pink slip to my car (california)?
In addition to working the deal on the Yaris (trade-ins always put you at a disadvantage) you may have to cough up some cash to get into a new vehicle, which is just another hit. Financially I think you'll come out ahead if you hang on to this one.
keep the car and refinance it to lower your payments.then you'll have the money for the extended warranty which you will need with all those miles on it.if you try to sell it you'll never get what you owe.look in the blue book for its value.
What is a used luxury car to get?
I think you have already answered your own question. If you know that you will not be able to afford it, then you are going to have to get rid of it. You don't want to default on your car loan. As far as purchasing a new car that will have a lower payment: that might work, but I don't know your finances so it would be hard to advise you on that. Do what you feel comfortable with.How do you determine the value of a used item? Is there some kind of formula to use?
If you can't make payments on $4500 how will you make payments on a $15000 (tax, license, finance charges) car????Buying a Nissan Altima for 14,900 How much is for interest?
You should just trade in your car. you'll probably get $7000 and try to buy a used car that's about $2500. That way no more payments. But you'll probably end up with a crappy car like 1998 Dodge Neon or a FORD Escort.
i would keep it cuz 4500 aint that much, if you cant afford that you cant afford a new yaris. if nothing else refinance the vehicle. why you have to extended the warranty? toyota last forever. i owned a 88 4runner with over 257,000 and did regular maitence on it and that it.
I am lease a car how can i get out of my lease with out paying?
I would keep it. It's a Toyota.. it has a lot of life left. Look into refinancing it. I think if money is going to be an issue, wait on buying a new car. Once your money situation is better, you'll be able to buy a car that you'll be happy with for a long time, rather than one that you can afford at the moment.More Questions & Answers ...
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