What to do - new car too expensive now? bluskygrl: Help! I have a 2005 car that I bought last August from a Hertz dealer, low miles, good price. Now since the divorce is done and the refinance of the house will take 3 months I cannot afford the new car. What is the best way to get another car with lower payments without taking a huge hit??
A new less expensive car? can I trade for a older less expensive car?? How do I do that?
BTW my credit is good - was great before STBXH missed a online payment
so my interest rate is 3.9 - very low here!
Thanks for any suggestions?
Re: What to do - new car too expensive now? twine: I would try to sell the car privatly you won't take so much of a hit on it, also then when you buy the next car you should get a better deal with cash than a trade in
Re: What to do - new car too expensive now? sudboy: [quote author=bluskygrl link=topic=28056.msg272771#msg272771 date=1145754036">
Help! I have a 2005 car that I bought last August from a Hertz dealer, low miles, good price. Now since the divorce is done and the refinance of the house will take 3 months I cannot afford the new car. What is the best way to get another car with lower payments without taking a huge hit??
A new less expensive car? can I trade for a older less expensive car?? How do I do that?
BTW my credit is good - was great before STBXH missed a online payment
so my interest rate is 3.9 - very low here!
Thanks for any suggestions?
[/quote">
Is it that you can't proceed with the refi of your house while also carrying that car payment, or is it you just can't afford the mortgage note and the car note at the same time?
You could consider refinancing the car for a longer period with a lower payment if you're stuck with it. Of course this option sucks in terms of extra interest.
Suds
Re: What to do - new car too expensive now? bluskygrl: I cannot afford both on just my income until the house is refinanced - even then I would have to be careful with money.
Do they let you refi with the same bank for a longer term on the same car? I guess I can ask
I think I may try the local online auto ads.
Any more advice??
Re: What to do - new car too expensive now? jillieb44: I agree with the selling it privately -- I just traded mine in a month ago and took a huge hit -- fortunately it was paid for so no outstanding balance due, but I could have doubled what I got if I tried to sell it.
Jillie
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