Warning

 

Close

Confirm Action

Are you sure you wish to do this?

Confirm Cancel
Member Login
Site Notices
Posted: 9/6/2010 12:36:38 PM EDT
I currently have $15K in credit debt, excellent credit, 726 score and never missed a bill, but I'm wanting to get credit paid off and it's just sitting still. I break even every month right now after I pay the minimum of like $500 on my debt.

I drive a 2009 Maxima w/ 62K miles, which between gas and note costs me $852 / month.
I found a Civic coupe with 24K miles, it would cost me (w/ gas) $540 / month, saving me $300 / month

I've cut everything else I can right now, my mortgage just jumped to $1305 / month thanks to property taxes, I have 5.7% 30yr fixed, so can't do much there.
I have no phone, no internet, and basic cable.

Practically live out of my car though as I drive 35K / year, lots of trips, need something super reliable so buying a beater is out.

Convince me to sell my Max, it's worth a little over $20K, I owe $18,700.
Link Posted: 9/6/2010 12:42:45 PM EDT
[Last Edit: 9/6/2010 12:44:35 PM EDT by N2CH_556]
Originally Posted By REALM:
I currently have $15K in credit debt, excellent credit, 726 score and never missed a bill, but I'm wanting to get credit paid off and it's just sitting still. I break even every month right now after I pay the minimum of like $500 on my debt.
I drive a 2009 Maxima w/ 62K miles, which between gas and note costs me $852 / month.
I found a Civic coupe with 24K miles, it would cost me (w/ gas) $540 / month, saving me $300 / month
I've cut everything else I can right now, my mortgage just jumped to $1305 / month thanks to property taxes, I have 5.7% 30yr fixed, so can't do much there.
I have no phone, no internet, and basic cable.
Practically live out of my car though as I drive 35K / year, lots of trips, need something super reliable so buying a beater is out.
Convince me to sell my Max, it's worth a little over $20K, I owe $18,700.


Have you ever driven a Civic for long trips? I've driven friend's civics on road-trips to the beach and that was fine, but I'm thinking it's just 'cause I was younger, in better shape and we were having fun so it was cool. I'm not really a big guy, but I think it would get tiresome.

I drive 100+ miles a day in my 2010 Max and owe any remaining sanity to that car. Think long and hard, homie.

ETA: I'd recommend you keep rockin' the 810!!!

Link Posted: 9/6/2010 12:53:04 PM EDT
The standard cloth seats and smaller armrests on the Civic will be noticeably less comfortable for long trips.
I love my Civic sedan, it gets pretty good mileage (mostly in the city), has nice handling and decent acceleration.

You just need to decide if it's worth the tradeoff in lower comfort-factor (Civic can be bought with leather seats but costs a lot more)
Also, do you need a lot of trunk space for luggage, suitcases, etc?
Link Posted: 9/6/2010 1:02:53 PM EDT
I do... as most of the trips I go on are with one or two more people, and at times I've maxed out my Maxima trunk and overflowed to the backseat.
Link Posted: 9/6/2010 1:08:38 PM EDT
No.
Link Posted: 9/6/2010 1:13:18 PM EDT
I am confused by your math but no one else is so it must just be me....I would refinance the older car if possible if getting your monthly bottom line lower is the goal.
Link Posted: 9/6/2010 1:13:59 PM EDT
Sell the car and get a good used pickup.

I have a 15 yr old F150 I bought new. (paid off in 2 yrs) Still drive it everyday. Tag is $30/yr. Liability insurance is cheap. I care less about gas mileage. I'm making money every time I drive it. (also, no rust)

You could probable get one of these for $3000 in decent shape and drive it until you pay down your debt.

I bought the 1995 f150 because it was the last year they made the all cast iron 300CI six. No power windows, seats, etc. Standard Tranny but does have A/C. EVERYTHING works. (not much to break) FWIW,, I get 19/20 mpg going 65mph. I have a motorcycle for backup transportation.

I have been out of debt, except the house, for 13 yrs. I really have more money now than I know what to do with. It just goes in the bank, waiting for inflation to eat it up. I have all the ammo/firearms I want....... I wonder if the wife would let me get a girlfriend,, I've heard they are expensive
Link Posted: 9/6/2010 1:14:11 PM EDT
Do what's necessary to pay off you debt.

I spent several years driving a Civic after medical residency.

Cars are a waste of money at $800/month.
Link Posted: 9/6/2010 1:14:38 PM EDT
How about buying Rosetta Stone first?
Link Posted: 9/6/2010 1:15:23 PM EDT
I'm driving a 94 Civic Coupe about 550 miles a week and really like the car. Great fuel economy and ultra reliable.
Link Posted: 9/6/2010 1:15:53 PM EDT
Sell your brand new car and buy a beater. I know you don't want to but after you sell your car use that money to pay off debt. Buy a cheap car that will last a little while and save your pennies for a better car. Hell i drove a 92 mitsubishi mighty max for a year and a half. It was a shitpile but it was cheap and allowed me to get out of debt. Now i drive a 2003 chevy silverado that i paid cash for. Getting a new car isn't smart with the debt you have. If you don't want to do what i mentioned keep your current car.

Posted Via AR15.Com Mobile
Link Posted: 9/6/2010 1:20:25 PM EDT
If you need us to convince you...
Link Posted: 9/6/2010 1:23:13 PM EDT
Originally Posted By Lee308:
Sell the car and get a good used pickup.

I have a 15 yr old F150 I bought new. (paid off in 2 yrs) Still drive it everyday. Tag is $30/yr. Liability insurance is cheap. I care less about gas mileage. I'm making money every time I drive it. (also, no rust)

snip


Side note, just bought the wife a 2008 Ford Focus in 2009,, it was slightly used, paid $10k cash. It started with 4K miles, now has 35k miles, no problems.
Link Posted: 9/6/2010 1:25:30 PM EDT
A brand new DX Civic Coupe is 15,605 according to Honda's website. If you can find a used one with 5-digit miles, 11-12k is likely what you'll pay before taxes & registration.

boom, ~$6k closer to black.
Link Posted: 9/6/2010 1:40:11 PM EDT
Originally Posted By REALM:
I currently have $15K in credit debt, excellent credit, 726 score and never missed a bill, but I'm wanting to get credit paid off and it's just sitting still. I break even every month right now after I pay the minimum of like $500 on my debt.

I drive a 2009 Maxima w/ 62K miles, which between gas and note costs me $852 / month.
I found a Civic coupe with 24K miles, it would cost me (w/ gas) $540 / month, saving me $300 / month

I've cut everything else I can right now, my mortgage just jumped to $1305 / month thanks to property taxes, I have 5.7% 30yr fixed, so can't do much there.
I have no phone, no internet, and basic cable.

Practically live out of my car though as I drive 35K / year, lots of trips, need something super reliable so buying a beater is out.

Convince me to sell my Max, it's worth a little over $20K, I owe $18,700.


Why do you drive three times the national average? For work or pleasure? You are spending more than $852 a month as you need to figure in loss of value and accelerated maintenance.
Link Posted: 9/6/2010 1:50:21 PM EDT
Originally Posted By REALM:
Convince me to sell my Max, it's worth a little over $20K, I owe $18,700.

You don't have a lot of equity in it and it may be difficult to sell at what you think it is worth. Selling your current car is not a good idea if you lose money. If you are able to sell it at 18700 or greater, than do so and buy a car that is worth less so your loan is lower.
Link Posted: 9/6/2010 1:55:59 PM EDT
I love my little 05 civic :)

Link Posted: 9/6/2010 1:58:11 PM EDT
I'd normally say don't do it, but if it can save you $300/mo and you put that money into your debt, it could work out to your advantage. You KNOW a Honda Civic is going to be dead nuts reliable, so maintenance costs will be low. Operating costs should be low, too, as they get pretty good gas mileage.

Link Posted: 9/6/2010 1:58:47 PM EDT
Originally Posted By ReservedRealist:
The standard cloth seats and smaller armrests on the Civic will be noticeably less comfortable for long trips.
I love my Civic sedan, it gets pretty good mileage (mostly in the city), has nice handling and decent acceleration.

You just need to decide if it's worth the tradeoff in lower comfort-factor (Civic can be bought with leather seats but costs a lot more)
Also, do you need a lot of trunk space for luggage, suitcases, etc?



You DO realize the leather seats are the SAME, just covered in leather, right?
Link Posted: 9/6/2010 2:06:33 PM EDT
[Last Edit: 9/6/2010 2:07:02 PM EDT by REALM]
Originally Posted By lancew:
Originally Posted By REALM:
I currently have $15K in credit debt, excellent credit, 726 score and never missed a bill, but I'm wanting to get credit paid off and it's just sitting still. I break even every month right now after I pay the minimum of like $500 on my debt.

I drive a 2009 Maxima w/ 62K miles, which between gas and note costs me $852 / month.
I found a Civic coupe with 24K miles, it would cost me (w/ gas) $540 / month, saving me $300 / month

I've cut everything else I can right now, my mortgage just jumped to $1305 / month thanks to property taxes, I have 5.7% 30yr fixed, so can't do much there.
I have no phone, no internet, and basic cable.

Practically live out of my car though as I drive 35K / year, lots of trips, need something super reliable so buying a beater is out.

Convince me to sell my Max, it's worth a little over $20K, I owe $18,700.


Why do you drive three times the national average? For work or pleasure? You are spending more than $852 a month as you need to figure in loss of value and accelerated maintenance.


My debt is due to...
#1 My moronic youth prior to buying a house
#2 I had a massive pickup that cost me $1200/month, I bought the Max to take myself down to the $850 range... should've bought something cheaper then, hindsight is 20/20
#3 School... I have credited quite a bit of tuition over the years, or paid cash for tuition and used credit to float food and gas

The past 2 years have been spent smarter, cut a lot of my bills, take my lunch to work, etc. but I'm still not paying debt off as fast as I'd like, so looking for other alternatives.

Can't buy a beater because I travel a lot, if I break down, what it would cost me to repair and in lost work would be more than I'd save. Doesn't have to be a new car, but the Civic I found is a 2006 so seemed like a good buy, but I'm wondering if the room will be enough now.
Link Posted: 9/6/2010 2:26:15 PM EDT
well, what ever you do,, don't buy the other car until this one is sold,,, it could take you six months to sell it unless you are trading, which is always a loss for you. One thing to remember, there is always another "deal" out there. Look into a weekly rental after you sell your current money pit and drive it a month until you find another "deal".

I drove 200 miles to p/u and tow my wife's new car home.. the internet is your friend.
Link Posted: 9/6/2010 2:36:50 PM EDT
Buy a Mazda 3
Link Posted: 9/6/2010 2:50:25 PM EDT
[Last Edit: 9/6/2010 2:53:35 PM EDT by Sugarfree]

Originally Posted By REALM:
I currently have $15K in credit debt, excellent credit, 726 score and never missed a bill, but I'm wanting to get credit paid off and it's just sitting still. I break even every month right now after I pay the minimum of like $500 on my debt.

I drive a 2009 Maxima w/ 62K miles, which between gas and note costs me $852 / month.
I found a Civic coupe with 24K miles, it would cost me (w/ gas) $540 / month, saving me $300 / month

I've cut everything else I can right now, my mortgage just jumped to $1305 / month thanks to property taxes, I have 5.7% 30yr fixed, so can't do much there.
I have no phone, no internet, and basic cable.

Practically live out of my car though as I drive 35K / year, lots of trips, need something super reliable so buying a beater is out.

Convince me to sell my Max, it's worth a little over $20K, I owe $18,700.

Switching cars every few years won't help your budget. If you're gonna keep swapping cars, lease them.

I bet you can lease a brand new base-model Mazda 3, Corolla or Civic for $220ish a month with no money down right now.

However, if you drive 3k miles a month, a lease aint gonna cut it.

Link Posted: 9/6/2010 2:52:37 PM EDT

Originally Posted By metalhed556:
Buy a Mazda 3


+1

I drive one back and forth to work.


Link Posted: 9/6/2010 3:17:00 PM EDT
Originally Posted By lancew:
Originally Posted By REALM:
I currently have $15K in credit debt, excellent credit, 726 score and never missed a bill, but I'm wanting to get credit paid off and it's just sitting still. I break even every month right now after I pay the minimum of like $500 on my debt.

I drive a 2009 Maxima w/ 62K miles, which between gas and note costs me $852 / month.
I found a Civic coupe with 24K miles, it would cost me (w/ gas) $540 / month, saving me $300 / month

I've cut everything else I can right now, my mortgage just jumped to $1305 / month thanks to property taxes, I have 5.7% 30yr fixed, so can't do much there.
I have no phone, no internet, and basic cable.

Practically live out of my car though as I drive 35K / year, lots of trips, need something super reliable so buying a beater is out.

Convince me to sell my Max, it's worth a little over $20K, I owe $18,700.


I have a long commute to work and school.

Why do you drive three times the national average? For work or pleasure? You are spending more than $852 a month as you need to figure in loss of value and accelerated maintenance.


Link Posted: 9/6/2010 3:18:17 PM EDT
Originally Posted By Sugarfree:

Originally Posted By REALM:
I currently have $15K in credit debt, excellent credit, 726 score and never missed a bill, but I'm wanting to get credit paid off and it's just sitting still. I break even every month right now after I pay the minimum of like $500 on my debt.

I drive a 2009 Maxima w/ 62K miles, which between gas and note costs me $852 / month.
I found a Civic coupe with 24K miles, it would cost me (w/ gas) $540 / month, saving me $300 / month

I've cut everything else I can right now, my mortgage just jumped to $1305 / month thanks to property taxes, I have 5.7% 30yr fixed, so can't do much there.
I have no phone, no internet, and basic cable.

Practically live out of my car though as I drive 35K / year, lots of trips, need something super reliable so buying a beater is out.

Convince me to sell my Max, it's worth a little over $20K, I owe $18,700.

Switching cars every few years won't help your budget. If you're gonna keep swapping cars, lease them.

I bet you can lease a brand new base-model Mazda 3, Corolla or Civic for $220ish a month with no money down right now.

However, if you drive 3k miles a month, a lease aint gonna cut it.



Yes, that's my downfall... too long a commute to work and school for leasing.
Link Posted: 9/6/2010 3:23:05 PM EDT
You can't do better than a 5.7% 30yr fixed at the moment?

I thought they were down to around 4.5% 30/fixed?
Link Posted: 9/6/2010 3:27:01 PM EDT
Where the Hell do you live that you property tax went UP? I thought home values were in the crapper pretty much across the board.
Link Posted: 9/6/2010 3:30:46 PM EDT
Did someone offer you over 20K for your car? In this market i find it hard to believe someone would pay that for a car with 60K plus miles.
Link Posted: 9/6/2010 3:31:53 PM EDT
If you're driving 35k a year, and can put up with a bouncy little car it may be worth it.

My 12k a year commute would not be worth it.
Link Posted: 9/6/2010 3:40:11 PM EDT
Originally Posted By twistedLV:
Where the Hell do you live that you property tax went UP? I thought home values were in the crapper pretty much across the board.


If it's anything like my county, they do it every four years. I got fucked by this and now my house is assessed $30k above market value. Funny thing is, the housing market was in the tank during my assessment and they were allowed to use comps a year back. My appeal was denied, because "we don't have a crystal ball" Fucking crooks!
Link Posted: 9/6/2010 3:59:42 PM EDT
I have an 04 Civic 4 door EX. Now has 108k, and did the timing belt/water pump service about a month ago or so.

Gets consistent calculated 36-38 mpg, (Auto) with the air on.

So far has been 100% reliable.
Link Posted: 9/6/2010 4:02:19 PM EDT
Originally Posted By twistedLV:
Where the Hell do you live that you property tax went UP? I thought home values were in the crapper pretty much across the board.


(of topic) Mine went up as well.
Link Posted: 9/6/2010 4:08:31 PM EDT
Originally Posted By sledhead907:
Originally Posted By twistedLV:
Where the Hell do you live that you property tax went UP? I thought home values were in the crapper pretty much across the board.


(of topic) Mine went up as well.


Mine went up $200 last year. Legislature did not renew a tax credit. I'm not complaining, my taxes, for what I get, are entirely reasonable. My taxes on a property this size this far from the metro area in Chicago would be 5 times more.
Link Posted: 9/6/2010 4:33:02 PM EDT
Originally Posted By REALM:
...
I drive a 2009 Maxima w/ 62K miles, which between gas and note costs me $852 / month.
I found a Civic coupe with 24K miles, it would cost me (w/ gas) $540 / month, saving me $300 / month
...
Practically live out of my car though as I drive 35K / year, lots of trips, need something super reliable so buying a beater is out.

Convince me to sell my Max, it's worth a little over $20K, I owe $18,700.


Years ago, I went shopping for a Civic. Long story short, here was the salesman's 'pitch' after I asked for a test drive when no Civics were visible on the lot:

What is there to test drive. It costs less than $20K, gets 40 MPG, and has an H on the front. You want to get on the wait list?


Paraphrased, but I shit you not.

Payment on an LX should be ~$300/mn. Tack on gas at ~$200/mn at $2.70/g, and you just saved ~$350/mn.

They are loud and don't ride as smooth as a luxury sedan, but you get what you pay for...an ecomonical car with great rep.



Top Top