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How should I handle my car loan.

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ofiligrana
Valued Member

Re: How should I handle my car loan.

Thats good to hear I wouldn't sell that car either I bet if you kept the car up with regular maintenance and everything you could run that bad boy for another 3 to 5 years easy and just use it as a work car when you get your new one to save on miles. Plus always having a back up is nice in case you have to leave your new car overnight or a weekend at the dealership.


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Message 11 of 13
SMikulski49
Regular Contributor

Re: How should I handle my car loan.

I am definitely not going to sell it. Having the car for 3 years in January, and having 140,000 miles on it i probably will not get anything for it. I know this car runs good as the miles are highway miles and doing all the maintenance as schedules in this car i am hoping it will last me another 3-5 years like you said. I would like to have a nicer car but to tell you the truth i got used to this one even though it does not have much in it but it gets me from point A to point B. I will keep it until it just falls apart on me to get every penny out of it as I paid way too much for it haha.

Message 12 of 13
Anonymous
Not applicable

Re: How should I handle my car loan.

Not to be mean but I need to clarify something.


You did not "pay too much" for your Yaris.


You leased a car, probably due to the monthly payment that they could get you on a lease vs. a purchase. You then, knowing full well the terms of your lease, went over mileage yourself which caused excessive penalties and fees which caused you to decide to roll $4,374 into your next car loan, where you decided to purchase the vehicle. You could have easily paid the $4,374 in cash on turn in and purchased another/different vehicle.

 

many, many people lease a car before they are set enough in their life to know what their mileage will be and then have to pay the penalty.

Message 13 of 13
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