I'm getting a divorce and am unfortunately still unemployed..I gues being a stay at home mom doesn't look good on the res..., I guess I have to sign for one of the vehicles and don't know which one I should take. The 2004 is over half paid for, but the 2006 is newer. I would like to trade in for a used cheaper car...would that be possible? What should I do?
2007-01-14 15:37:24 · 6 answers · asked by texascomet 4 in Family & Relationships ➔ Marriage & Divorce
04 corolla is a way better car & will probably cost less in future repairs
2007-01-14 15:41:22 · answer #1 · answered by Sheepish 2 · 0⤊ 0⤋
2006
2007-01-14 23:47:45 · answer #2 · answered by Anonymous · 0⤊ 0⤋
corolla is going to be more reliable the the hyundai. I just rolled over 200K miles on my Corolla this weekend.
The Hyundai will depreciate faster and cost you more in payments. The cheapest car to drive is the one you own, and if you own more of the Corolla, it will most likely be cheaper to own, even with a $1K/year repair every year after it's paid off.
Think about it. If you have to spend $2,000/year on repairs, that's still less than a $200+/month car payment, right. A good rule of thumb on a five year loan is $200/month per every $10K borrowed, so a decent $15K car will be about $300/month.
You can make a lot of repairs for $3600/year.
So take the Toyota, it's more reliable, and will cost less in payments and probably repairs, even if older.
Finally, if you have to trade, or sell outright, you will probably have more folks lining up to buy the Corolla.
But it's probably cheaper to keep the Corolla, maybe refinance, so you will have a lower payment.
I suspect you are "upside down" in the Hyundai, meaning you owe more on it than it's worth. Let your ex have that headache.
2007-01-14 23:44:12 · answer #3 · answered by camys_daddy 5 · 0⤊ 0⤋
look at the blue book value for the mileage. Check the payments and decide the condition of the car for repairs. Make sure you have the warranty. Also, check the insurance for both and see if there's a difference. Figuring in payments and repairs (unless under warranty) for 5 years. Go with the cheapest. Also check the blue book for both cars as if it were 5 years from now (a 5 year old hyundai and a 7 year old corolla). Sum it up, and go with the best value
2007-01-15 00:22:12 · answer #4 · answered by eleven 3 · 0⤊ 0⤋
2006 car
2007-01-14 23:40:33 · answer #5 · answered by Tee Tee 1 · 0⤊ 0⤋
Safe your money for rainy days....
2007-01-14 23:42:09 · answer #6 · answered by jameslim_sg 1 · 0⤊ 0⤋