LogFAQs > #908635105

Vermander posted...

silentwing26x posted...

_Rinku_ posted...

Most dealerships/banks won't let you finance cars that are more than a few years old. From my experience, this means that anything older than, say, seven years can't be financed and has to be paid in full. Even with a cheap older car, it can be extremely difficult to collect that entire amount and pay it at once... especially when you're driving a car that constantly needs work done (because it's old and needs to be replaced).

It's often "cheaper" to pay $300/month towards a car than to try to accumulate $5k while driving a POS hooptie that needs work every other month. See also: people who can't afford an apartment and instead have to live in extended stay hotels.

dude wtf are you even blabbering about? you can finance older cars, usually at a higher interest rate. unless it's really old and you have no job you can find dealers thatll finance a car. and his car is 2016.

and a 5k car is not a pos hooptie that needs work every month.

Any car you are paying 5k for may not immediately need work but will need work in the next year. A buddy of mine got a new car for 4k and he literally has had to sink another 2k into it and has only owned it 3 months.

thats why you dont buy bad cars. your scenario is anecdote, not rule.

meanwhile, you buy a new car and a year later you are $2k or more underwater due to the depreciation.
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Minnesota is like having sex in The Boundary Waters.
****ing close to Canada.