Advise Needed.

[Skiuseme]

Here?s the situation, My Wife and I are trying not to go into debt any farther than we already are. I have sold my car that needed to go and we are down to one auto. We do work opposite shifts but, with my meetings early in the morning it just doesn?t work out to have one auto.


I have 2 options that I see one is fine and one is what I want to do.

Option 1. My grandfather doesn?t drive but owns an auto. I have been borrowing it for 3 weeks but, I feel INSLAVED to him for using it. I have offered to pay him for the mileage and maintenance of the vehicle, also have let him know that at any time if he needs it, it will be there for him. He does have a driver with her own auto (my Grandmother) so if they need to go somewhere this is not a problem. Once again I feel in slaved to him for using this auto and would feel bad if something happened.

Option 2. I have some money saved up to purchase an auto and could do this today. I am mechanically declined and it would be a rather large feat if I could change the air filter.... I cannot write a large check in my eyes but, could come up with about $3000 if need be. I do not want anyone else?s problems because I don?t have time or money for it. This would be in my eyes the best option for me and want I want to do but, if I could put it off for a few months I could obtain a different auto for a larger amount.

The Advise that I?m looking for is what would you do?

 

[204 Escape]

Re: Advise Needed.

I've been on Un-employment for the past 8 weeks. I know how you feel. Been there several times in the past, as I work construction. I'd take care of grandpa's car for a while, maybe things will turn around for you. You know, tires if needed, oil, filters, ins., taxesf possible, UNLESS it is one of those deals where it is being held over your head. I hope you don't, BUT you MIGHT need the $$ for something else, like a house payment, etc.

(I got lucky, and paid our house off a year ago in Feb., so that isn't hanging over my head).

Keep your chin up, and your thoughts POSITIVE. Where there is a will, there is a way !!!!!!!!!!!!!! [/COLOR]

 

[BWR1953]

Re: Advise Needed.

You always have the option of buying a cheapo car for $500 - $600. My method for such cars is to try to break them on the test drive and if they survive, to buy it if I like it.

Seriously though... in January 2003 I bought a 1987 Ford Crown Victoria station wagon for $600 and put $100 worth of used tires on it the first week. Bought some cool wheels for it and new tires 2 1/2 years later. Kept the car for 5 1/2 years and sold it for $400 to a neighbor kid. Cost me less than $100 a year to own the car, not including insurance.

Old wagons with V-8s aren't real popular and are therefore quite cheap. Very utilitarian cars too, if you get the type with a trunk instead of the far rear seats.

An option to consider.

 

[Splat]

Re: Advise Needed.

Get a buddy that's mechanically inclined and go to a local repo auction. I know a lot of people have a lot of different feelings on these, but for $3000 with a friend that can look for basics on mechanical failures you can walk away with a REALLY nice used car. It may only cost you the price of the car and a case of beer for your buddy.

Bill

 

[Bigprairie1]

Re: Advise Needed.

I think I would avoid using up Grandpa's vehicle too much and I think your intuition is right on that one.
As well, I think $2000-$3000 can buy a reasonably reliable vehicle. It may not be a '5' year vehicle but definitely should provide pretty good reliability for a couple of years. After that, a lot of this economy/recession stuff should be in the distance and you could probably move up to something a little better.
For me, I would go after a good used Toyota Corolla. They are not bastions of style or cool but damn... they are reliable and economical and plentiful. Maybe try looking for something in around $2500 and keep $500 set aside for any short term surprises the vehicle might have.
As Splat said, I would get a mechanical buddy to check it out prior to buying to make sure whatever it is, it's sound.
As they say 'any port in a storm'...these days, until things improve I guess.
BP

 

[JB]

Re: Advise Needed.

If you were my grandson and I wasn't driving anymore I would just give you the car. Plain stupid to keep it.

Ask grandpa to sell you his car.

 

[Skiuseme]

Re: Advise Needed.

Thank you all for your advise. Things aren't as bad as they sound. My wife and I are truely blessed and very secure. We have just paid off Citizens Auto Finance for her truck and only have 3 more remaining debts to pay back. While they are larger ones (Boat, School Loan and Mortgage) we do see the end of the tunnel coming and coming fast. We just want to sacrafice something shinny today for something shinny and paid for tomorrow.

I have friends and clients that are in the auto industry that have offered to take me to the auctions and help me out. I have been to a few and seen a few I like but, while they run fine there, there is a reason why they are at the auction. I know there are alot of fine auto out there I just need to find one for me.

As for the Grandparents auto Im done with it. While it is a fine auto I dont think I will buy it from him and just let him have it back. I do see them once a week and make sure that my new son is with so they can spend that great time together that we will never get back. I want the visits to be about the time together and not about what is going on with the car. A wise man once said that Thanksgiving Dinner doesn't taste the same when there is money or property owed to a family member. I feel this is truely a great thing to live by.

So with that being said, I thank you all for your responses. I will be obtaining a method of transportation to get me from point A to point B. This is all that I need in an automobile.


Thanks
Adam

 

[WizeOne]

Re: Advise Needed.

I have been to a few and seen a few I like but, while they run fine there, there is a reason why they are at the auction.

A signifigant number of cars go to the auctions because they simply do not fit the profile of used car that the dealer specializes in. Every new car dealer has a used car manager. He usually has his own forumula for what he can sell effectively. If a trade-in does not fit that profile, then off to the auction it goes.

Sometimes his criteria may be age or mileage as well as type or class of vehicle. This certainly does not mean that any particular car there is a piece of junk.

If you have a savvy friend, the auction is an excellent way to buy a car. You'd never get it any cheaper.

 

[mscher]

Re: Advise Needed.

Take a look at estate auctions, which usually have one car to sell.

Often grandma's car, does not get much bidding attention, as it is not a "sporty" model.

Many times the cars are truely "creampuffs", a few years old, low miles and not a scratch on them.

I almost bid on them myself, as they sometimes go way cheap.

 

[Jeff-in-PA]

Re: Advise Needed.

A signifigant number of cars go to the auctions because they simply do not fit the profile of used car that the dealer specializes in. Every new car dealer has a used car manager. He usually has his own forumula for what he can sell effectively. If a trade-in does not fit that profile, then off to the auction it goes.

Sometimes his criteria may be age or mileage as well as type or class of vehicle. This certainly does not mean that any particular car there is a piece of junk.

If you have a savvy friend, the auction is an excellent way to buy a car. You'd never get it any cheaper.

I agree. When I purchased my '01 Suburban in '05, I asked about trading in my '91 Park Ave I got from my Dad ( 80K and absolutely perfect).

He said he didn't want and the value would be too low. I pressed for a number and he told me $325 as that was auction value. I sold it private and got $2500. The local lady who bought it is still driving it.

Another option is a motorcycle. I got back into riding after being out of it for 10 years. I rode over 6K last year and really enjoy the 40 mpg my '93 Kawasaki ZR1100 gets ( perfect bike for $2000 )

Jeff

 

[ezmobee]

Re: Advise Needed.

In the cheap car market I tend to graviatate toward GM or Ford 4 door V6 sedans. Reasonable comfort/power, fantastic depreciation (for you the buyer), and are cheap to fix. You can do a LOT of work to these cars for the cost of the a monthly payment on a new car.