advice?cars?

Question

how come cars don't last forever ? every year they advertise new cars not every body cannot afford them. or their credit is not good. how can you get a new car if your credit is not good how do you make your credit good to get another car.i have 3 more yrs to pay my car off untill i get another one. can i sell it while im makein payments on it. what can i do.

Answer 1

As a young person with not much money...Never buy a new car. A car will drain you of money real quick. Insurance, license, maintenance, fuel, oil changes, tickets and so on. If you REALLY need a car at least get one about 10 years old that is in good shape. See , you are paying the price right now...still 3 years to pay, never, never, never make payments on cars, you will be paying your whole life. Think about other transportation...Do you really , really need this car? If you don't make much money and you want a new car then you will most likely be poor all your life. Think about your future...without money you will have nothing so the trick is to make money and keep it, not waste it on gas, license, PP taxes, maintenance, oil changes, tires and other stupid auto charges. My first car I paid only $100 for it and it got me from point A to point B. Later in life, when you have money then you can think about NEW. Remember what I said: Cars will DRAIN your wallet real quick, they are money vacuums.

Answer 2

"how come cars don't last forever ?" With good maintenance (and this includes regular removal of road salt if you live in cold areas), you can reasonably get 20 years out of many cars these days unless you wreck them, and I own one 40 year old car that was only taken off the road because I got in over my head trying to modify it. Take good care of your current car and you should be able to get plenty of miles out of it. Some parts inevitably wear out - metal fatigue and abraisive wear make it impossible to design some parts to literally last forever - but the basic parts can last decades.

The way to improve your credit is to establish a history of paying your bills on time. You may need to trim down some of your expenses to get things paid off, but as one of the financial advisors on local radio shows puts it, you have to act your wage.

Dealerships can take in trades that are not fully paid off, but it's only a good idea to do this if you owe significantly less money on the car than what the dealership will give you as a trade in credit.

It can be possible to sell it to a private party too, but you will need to contact the bank for details. The short version is you'd sell it and sent the bank the money you owe them in most cases.

If you're "upside down" and owe more than the car is worth, don't attempt to sell it unless you truly have no choice whatsoever. Some dealers will take an upside down car as a trade in and then tack on the extra debt to your loan, making the debt even worse.

When you're on a really low budget, I'd definitely recommend getting a used car, and if possible paying cash (not literally in most cases, but with money you have instead of borrowed money). It's my experience that you can find a decent basic transportation car on a $4,000 budget with some careful shopping.

I have never owned a new car.