would you trade for a?

Question

i got a 2005 cavalier, am paying $450 a mth (insurance to) for it, if i got to a older car i have the bad luck of having to maybe make repairs to it, and who knows what could be wrong.but it would be cheaper in all aspects. i am living down to the last dime, but dont wanna trade it in, maybe it is smarter to money wise, not driving wise though. i am a single girl i cant get a car thats gonna leave me stranded should i live down to the wire on money to keep it? i thin k i should. i dunno.....

Answer 1

$450 for insurance and car payment, may not be that bad. We dont know the term of your loan or any part of financial deal.

Some ideas
1_Others suggest insurance might be too high, shop around and see if you can get a better quote. A few bucks possibly a month.
2_Check your current coverage see if theres anything you can do without, or possibly go with, higher deductible(check min allowed by finance company)
3_Did you get student driver class discount, or go take the class. I think its 10% off premium.
4_Check make sure ins co knows all your possible discounts(ABS brakes, air bags, day timerunning lights, security devices or alarms)
5_Call your finace company, explain your hardship. Make it sound worse than it is, maybe they can lower payment, but be careful, still will be paying for it at end and they possibly can up finance charge or extend term.
6_How long you had car, you might be ok to get out of it, find out, once again we dont know the exacts on the $450. If you do get to trade it in, trade for new(getting new car warranty and less likely to be stranded). The end of year incentives are great for someone in your situation. A new loan, cheaper payment, even if its a 6 or if u have to 7 year loan, 6-7 years from now hopefully you will be finished with school and in a better situation.
7_Get a suga-daddy =)

Even a few bucks savings here and there from above can add up to possibly help you.

Good luck

Answer 2

The first thing I would do is shop around for cheaper insurance. $450 a month seems very excessive. Always live within your means, even if it means trading down to a 2002 or 2003 Model; cheaper insurance for sure, while still quite dependable with lower payments. You might consider finding a friend that knows how to repair cars or learn how to repair them yourself. If you are in your teens you should put money into a savings account every week, even if it is only $10 or $20 dollars. Don't ever withdraw this money, after a few years it will build into the thousands.

Answer 3

You would be better off with an old car. 450 is a lot for a cavalier. buy a car from older people who took care of it and it will be good. All cars will need repair. you can always find a used cavalier for 1500 cash. if you do not have that you should have a yard sale. your wealth is laying all around your living quarters.Jesus told the disciples to pick up all the fragments after they all ate and they had 12 baskets full. You should not be making payments. if you look hard enough you can find a good car for 500--1000 dollars. I have done it many times and they were all good cars.

Answer 4

Keep the car because if you break down you will not be at work making money to pay for the car. WE all live to the last dime because we get up each morning to go to work. Keep your chin up be accident free and things in your life will really change. And after scrimping six months check on line to find an insurance carrier that is less money. Then refinance the car less interest. Marry a fine young rich gentleman. After you have credit history then buy a new car. Take it slow for now.

Answer 5

because of the low resale value of cavaliers, you might owe more than it's worth. You can try trading it in for a used dependable car like a corolla or a civic, get a loan to cover what ever you would be upside down on and maybe save a hundred or so dollars a month. If you are running the risk of not being able to pay your car note or buy insurance, this may be the best route. Better than getting it repo'd and messing up your credit.

Answer 6

I always say used maybe not 1972 used but never buy a car new never ever ever. I keep on hand for me and mine at least 6 older cars (very specific cars and trucks) and they never cost me more than $100 a month total on average for all my vehicles repairs and purchase cost. Do your homework and shop around try to take a knowlegable male with you if possible when shopping
certain used vehicles normaly last up to 200,000 miles and more while some barely get over 100,000. Let others pay the depriciation on a new car not you.

Answer 7

That's a tough question. At least if you have a car that is paid for, you could have less insurance coverage.

Or trade it in on that new Nissan Versa. It's like $16,000 and you would have a waranty and great gas mileage

Answer 8

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Answer 9

Sell it. $450/month for insurance is outrageous and unacceptable. Buy any Toyota Yaris or Nissan Versa or Honda Fit and go with State Farm Insurance with easy monthly payment program. Buy a brand new one to get easiest financing approval, longest term, and lowest monthly payment. $450/month should be enough for BOTH car payment AND insurance. Trust me please. You can thank me later for this advice. [e-mail]

Answer 10

Shop around for cheaper insurance