I need advice

iVillage Member
Registered: 04-10-2003
I need advice
8
Wed, 12-09-2009 - 1:27pm

So as most of you know, my last bit of debt is my car payment. Its on a CC because the interest on the CC was 5.9% while the loan was 9.9%. I owe just over $12.5K. I also have a buy now pay later for my fridge at 1k due November 2010.


XBF moved out leaving me without $600 a month that I used to pay off debt. I have posted for a roommate and have several people interested. One is coming to look at it Friday. Another is moving from another province and needs a place to stay for 5 months until her bf comes (she is taking a government job and just needs a temp place to get established). She has already told me if the first girl doesn't take it, she will.


So here is my question. Since I will have a roommate, should I still try and sell the SUV or revert to paying it off like I was before when exBF was here and keeping it?


Bex -

iVillage Member
Registered: 08-04-2008
Wed, 12-09-2009 - 1:44pm

I guess my inclination would be to sell it.




iVillage Member
Registered: 10-01-2008
Wed, 12-09-2009 - 2:09pm

I guess my view is a little different from Marie's.


Good reliable transportation is worth a lot.

Norma


"Patience is the best remedy for every trouble"- Plautus


iVillage Member
Registered: 11-14-2008
Wed, 12-09-2009 - 4:07pm

I suppose I am the in between girl. I would still actively try to sell it, but not kill myself doing it. Get the tires, you have obviously made up your mind on that one but make sure the buyer is aware of your recent cost and you want to be reimbursed for them if not in full than at least in part. Enjoy it while you have it and de-stress please. ;)You will be able to find something else reliable if and when it sells. Continue on your aggressive path with the buy now pay later and reassess after that baby is history.

You are on the right path here.


iVillage Member
Registered: 07-26-1999
Wed, 12-09-2009 - 11:39pm

I was debating tires because I want to try to sell my car...I was tossing up cheaper tires vs. high quality ones. A co-worker said to me that your tires are what keep you on the road, and to look at the difference in price between the cheaper tires and high quality ones. Then she asked me how much my life was worth. The difference in price was only about $150, so it was a good exercise and I thought I would share.

In the end I did a lot of research on tires and bought really good Michelins. I also found out I needed front brakes, so there went another $200.

I still plan to sell my car...It's a Cavalier and great on gas by North American standards, but I have found a Honda Civic that I am hoping to buy in the next few days. I know I will get 30% better fuel economy still with that car...

I plan to add the cost of the new tires and brakes to the asking price of my car, and hope for the best. I would otherwise have to subtract that from what I might get for it.

You mentioned your SUV is worth about $25K and I know you can get a really good certified Honda for about $12K so that is the route I would take...and what you save in gas will go a fair way toward paying off your fridge. Of course, if I planned to become a dog groomer I would keep the SUV...

Take care of yourself, and remember you are worth the cost of decent tires :)

iVillage Member
Registered: 04-10-2003
Thu, 12-10-2009 - 8:42am

Thank you all for you advice. I think I like Gal's logic . . . keep the truck up for sale but don't kill myself to sell it. It sells when it sells.


In the meantime I did my research and got four decent tires installed for $900 (taxes and surcharges in). They are goodyears. Not the TOP TOP TOP of the line, but all the reviews from CAA and Car and Driver recommend them.


Bex -

iVillage Member
Registered: 08-04-2008
Thu, 12-10-2009 - 2:29pm

I have always gone for the cheapest of tires and never had a problem.




iVillage Member
Registered: 10-01-2008
Thu, 12-10-2009 - 3:03pm

A good decision.

Norma


"Patience is the best remedy for every trouble"- Plautus


iVillage Member
Registered: 04-10-2003
Thu, 12-10-2009 - 3:08pm

Too cute. I love watching dogs learn things. When X first brought the husky


Bex -