Call all drivers! Should I trade my old car?

Since I'm very close to get a driver's license as of this year. It's as part of my new year's resolution. So, from what I understand, my estranged mother truly wishes to give me her very old car. That worries me the most that I won't be able to drive that HUGE-ASS car....

So, right now, I really want to trade in for Kia Soul or Sportage. They're really great cars. Mind you, I've drove Kia Sephia before. A really nice car. But I has to sell it.

So..speaking of trading cars. What should I do? Just tell me what to do, so I can take care of old car once and for all. Perhaps it's best if I get a loan? or just rent a car for that rent payment?

Give me a advice, guys.

 

Assuming your mother is giving you the car for free, the car is operational, and does not require a lot of money in repairs, then it is your best option from a financial standpoint. Cars are not assets they are the very definition of a depreciating liability. Take the car from your mom and save/invest the money you would have paid on new car payments, and higher license and registration fees.

 

As long as the old car has a good inspection sticker, stack your cash & drive it till the wheels fall off.

Then put ALL of that money into the down payment on the newer car which will then reduce your monthly payments and reduce your interests payed.

 

This is right on the dollar. Follow his advice and save or invest it.

 

sell the car first and then take the cash and purchase. you would be better off

 

The money he could save by NOT paying a car note every month will likely be equal or greater than anything he could get selling or trading in a old piece of shit car now.

Also.... If the car is as old as he says it is, it will be worth the same down the road after hes driven it for 6 months to a year.

 

Hold your horse, man! Are you telling me that if I decide to keep my estranged mother's car, then I won't have to make the car payment? Is that what you're telling me?

 

She gave it to you for free right? If so...as long as you hold off getting a loan for a newer car, thats a car note youre NOT paying. Thus cash stacked

 

It's like you're my teacher, TamStrong.

 

Uh, Wh-what?! Oh, heaven no. I'm not listening to wrong people at all. I just want to collecting the facts, that's all. What makes you to think that I'm listening to wrong people at this very moment as of right now, my darling?

 

Dog,

If you are of the age when you are JUST now getting the legal ability to drive you had better sit your ass down and ride the free shit till the paint peels off. Spend your money on things like "tuition" and "books" I buy a new car ever 5 years...


....but then again I worked my ass to be able to do so. LOL....first time my chech engine light comes on, I start lookin at my car with that skeptical glare "Keep fucking up and I'll replace you are ass much sooner than later"

 

Simply put:

1. If you can afford it, do it!

2. Check Kelly's Blue Book. And see how much your car can be sold for at max.

3. Know your budget.