Tell me I did the right thing! *sigh*
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Tell me I did the right thing! *sigh*
| Mon, 11-22-2004 - 11:18am |
DH & I paid off our Pathfinder a couple of months ago.
| Mon, 11-22-2004 - 11:18am |
DH & I paid off our Pathfinder a couple of months ago.
Hmmm, well, I'm going to tell you that you did the right thing. I bought a $1200 car in September and it leaks (it was in an underground garage and it wasn't raining when I got it). It also now doesn't even start and I am completely alone and wondering how I find out if it's:
1. the battery
2. the alternator
3. the starter
without getting ripped off.
I couldn't afford to spend more than that out of savings and still have anything left over as an emergency fund, and I'm single now and not wanting to be without funds in an emergency. I am not at the right point in my life to finance a new car, though I would desperately like to and wouldn't even complain about the payments. My friend pays $290/month on a 6 year finance term for a used 2002 Toyota Echo. I don't know what interest rate but that sounds like a lot to me over the 6 years. She complains about the payments but at least she has an almost new, safe, fuel efficient car that will start!!
So, if you can afford the payment, and the car fits your lifestyle, then I wouldn't be too upset about it. I shudder to think how much the Pathfinder would eventually cost you to keep running, as I shudder to think how much this car that I can't afford to replace or fix is going to cost me.
My two cents is that if you can afford the payments without too much "pinch" in the rest of your life, just enjoy having a nice car! I wish you well with it and I hope you get lots of enjoyment out of it!
There is only one time I haven't had "buyers' remorse" and that is when I bought my minivan. I got exactly what I wanted and knew when I bought it I would keep it for many years to come. I have even managed to pay off $6500 in principal this year.
It is natural when making a big purchase to have second thoughts. However, it seems to me like you got a great deal. If you really want reassurance, go to kbb.com, type in the year, make and model, condition and features of the car and look up the Trade-In value. That tells you how much your car is really worth, versus how much you spent.
I bet you will find your car is worth more (even as a trade-in) than what you paid. I go by trade in value, because it will underestimate what you could get for it. Private party values are also good to look up because it will tell you what you could sell it to another person for. That will really make you feel good about your purchase.
Hope all works well with the car.
Kellie