So biz i recently recieved a large sum of money (career bonus) $33000 to be exact. I have a 2007 ford ecscape with 220000 miles on it so its safe to assume ot will die soon.
My question is should i buy a new car outright ($15000 on a new used Toyota camry) and put the rest in savings /index fund......orrrr should i just put a down payment and pay payments on it.
What would /biz/ do.
I'd index fund all of it and keep my truck for as long as I can
>>1596626
Yeah but this thing is gonna croak in the next 6 months. I would like to do that but its literally on its last leg. Theres no avoinding getting a new one.
>>1596608
Repair old car
Repeat
Night school and graduate degrees
>>1596633
You could have said that 100k ago, keep up the maintenance and small repair jobs until it actually goes.
>>1596669
Honestly that is a good point. But lets say that the engine blew up tommorow hypothetically. How would you go about purvhasing a new used vehicle?
>>1596608
Well I'm not /biz/. But I'm a cheapass.
I would look for a decent used car.
Between 5-7 years old. Less than 80k miles, less than 7000$.
Preferably only one owner. By owner only.
Hondas have good quality and a low resale value.
Civic/Fit etc
Buy from someone who is in desperate need to sell.
Save the rest. Or use another 2000& to buy a Honda Nighthawk 250 and gear. Great gas saver.
>>1596749
True. I should probably just get a e
Reliable mech to come with me.....so i guess the general concesus is go cheap
>>1596608
If you can get 0 financing then finance it. Otherwise check your interest rate and compare it to your market return.
>>1596608
Sell the car before it completely dies or needs a major repair.
>>1596608
Buy a cheap used car (10k) then use the rest as a down payment on a rental property.