From the article: I Can't Afford My Payment! What Should I Do?
We all make rash decisions, and foolish purchases occasionally, but when you do it with a car you may end up paying for it for a long time. What's the biggest mistake you've made? Or that you've watched someone else make? Share Your Mistake
- Seems like everyone has to go through the car hell before figuring things out. If you got screwed here's my advice: get 2 jobs and pay the stupid car off! Also take care of it and dont go out slamming it around and trashing it. Get a Chiltons manual and learn how to check fluids and etc, and have some know how-- you want the car to last and last.
- —Guest Some Guy
Absolutely bad deal!
- I had a nice 01 volvo in really nice shape. It was great! But I somehow decided that I needed a nice 4x4 for winter. I could have kept the volvo, it did great every winter. but the 21 year old spoke on my conscience and I went to the dealer. I saw a 2003 Land Rover Discovery, THE WORST MISTAKE!!!! After a few months of driving the gas is too much! It started leaking a lot of oil and it eats up antifreeze like no other!... I was told it was in great condition!--Right... Worst I went from having a nice little volvo which was very reliable to having a 14,000 dollar car that's worthless! I HATE THIS CAR!! I'm stuck with it for another 3 years.
- —Guest Antonio
- Paid off my car loan on my 2000 echo 2yrs ago. Felt I needed an upgrade to a 4x4. Decided on an fj cruiser 2012. Big mistake getting a new car. Should have cost me $500/mth but by the time I left the dealer, I am stuck with $700/mth for the next 7yrs...ouchie, wish I could turn back time....NEVER GET A NEW CAR, NEVER GO TO A CAR DEALER ALONE. TAKE YOUR TIME TO THINK ABOUT THE COST BEFORE SIGNING THE CONTRACT. Fast forward 1yr, I was going through the contract and saw that most of the extended and replacement insurance I got could be cancelled within 10days but Toyota never told me. I can even return the car within 2days but they never told me either...
- —Guest Ouch
I HATE THIS!!
- So feb 2012 I get a small lump-some and cash out the car I always wanted, a 2002 Chrysler 300m special. It was perfect for the lifestyle of a 19 year guy in school and working minimum wage. Then I get fed up with not making enough money to support my over the top shopping addiction so I get this AMAZING job in sales making like 2k a month. At this point I'm 20 yrs old, making all this money and felt like I'm just so above this old car and had to have something new so then i go to this crazy place and trade my car for a 2008 Jeep Command with 32k miles. The moment I walked out and saw my old car I asked myself "why am I doing this"? But I was so high off the moment of getting a new car and my father that consigned for it was totally supporting the situation so I ignored the guilt. Now I'm beyond stressed out b/c I'm not making near as much as I was and the monthly payments are $499 with a 24% interest rate. I feel like my life is RUIN and I don't know why I did this. Any advice please!?
- —Guest NS3
wow im a dumb idoit
- So I'm the dumbest person here I had realible 2000 ford that my parents gave me nooooooooo payments. But being young and dumb 21 year old I go out and think I need to get a new vehicle that looks good. I end up getting a 2010 Ford Fusion leaving the lot with a 17 thousand dollar loan paying 467 month and the car vaule only being 12,000. Wow now I cant trade it in or anything I'm darn near stuck. iIDK what to do.
- —Guest candice
IM A IDIOT
- So I had a 2005 Chrysler PT Cruiser Limited Edition with 116k miles on it. My grandfather bought it for me after my Acura TSX was repossessed. First car ever to get taken. I always had good credit and paid a lot of cars off. I wanted so bad to get out of the PT cruiser because it did not fit me, my friends were always making fun of me which wasn't so bad but it got tiresome and the car started to have some major issues. I went and bought a WV CC 2010 for $19,900 when it was listed at $18,900 and since it had 45k miles on it, the blue book value was $16,900. The dealer told me he shouldn't even be talking to me because of my credit. Stupid me let them talk me into buying the car for top dollar and putting down $3000 and now I have a $465 payment every month at a high interest rate and my insurance is $180 a month. I should of bought something cheaper and not cared about driving the nicest car. I just want a simple life. But i guess I do it to myself.
- —Guest IM A IDIOT
buying from a tow yard
- I just bought a 99 chrysler 300 from a tow yard, seemed fine when I first checked it out, test drove Ok earlier, but in driving home check engine light on, tranny won't leave first. Having a mechanic come tomorrow to look at it. Fluid is brown, and engine was hot, praying it is fixable. I am screwed most likely if it isn't, car is sold as is, no smog certificate. Man I just need a car to last me a year. I want to throw up right now, almost $2k down the hole. Who knows how much for repairs. The poor just get poorer.
- —Guest idiot
I'm a salesman
- I'm a salesman and I agree. I bought a Chrysler 200 2012 for 18500 out the door. I thought that was great deal because the window sticker was 23600. but when I appraised it recently after one year the stupid thing is worth $12000, 13200 with my tax credit savings. How are you going to put a $23,000 sticker and then have your car be worth $12,000 the next year. And I have sold these cars for so much more than I bought it for. I don't see how any of these people will be able to, or want to buy from me again! I think taxes on car purchases should be reduced. Dealers should not legally be able to charge aftermarkets, and doc fees should have a $100 cap. Maybe even eliminate 72 month loans. Only advice I can give is to buy private party cash. Or to have substantial down payment on a vehicle you can AFFORD and do a short term, I know it's easier said than done, but please don't make hasty purchases! Research what holds its value, has lowest cost of ownership
- —Guest Gabriel
Why did we get it?
- My husband and I were planning to get a car but not yet, since we have lots of payable in credentials and medical bills. So me and my husband whent to a dealer just to check those cars ... but we ended up getting one. :< Now im trying to calculate our expenses we hit negative.
- —Guest all stressed
Toyota 1-580 screwed me
- Ok so I was working full time, plus a side job making descent money. Moved in with boyfriend and was getting rides to and from work. Had a 2000 v-6 Honda accord. Transmission was slipping,mostly in reverse. So I sold it! Dummy. Then I went and bought a used 2006 Prius. Well the finance guy at I-580 Toyota, James Finney, promised me and my mom as witness multiple times that the low jack would be included free of charge, I even specified because nothing is free, he promised. He also sold me a warranty for an extra $2500. Well anyone who has purchased a car from a dealer knows how exhausting it can be. When I got home I was reading the whole thing and found out I was charged an extra $1000 for the damn low jack and that the warranty doesn't really cover anything. Now I'm at a new job, because i got robbed twice while working at the bank, with less hours and a pay cut. And have another 3 1/2 years of paying for a car I really don't even like much with an added $3500 of BS on my payment.
- —Guest LJ
Pay car off keep car
- If you pay cash or pay off your car keep your car till the wheels pop.dont lie to yourself new car are for looks.Keep WHAT YOU BUY
- —Guest Toe buck
2012 Honda Accord
- Mechanically it may be a good car; this is yet to be seen. I have seen more sturdy body metal on soda cans. The road noise is so terrible you there is not much difference with windows up or down. I absolutely hate this car and can’t wait to get rid of it. I test drove it but the dealer had a certain area where they wanted you to drive it and of course the salesperson is with you talking non-stop. Not to mention the tires were underinflated to further mask things. I will return to buying European cars or Toyotas ASAP there is no comparison. My daughter has an AWD Toyota Matrix and with snow tires it is quieter and her husband a RAV4 with snow tires it too is quieter. Honda will never be seen in my garage EVER again. We are from Russia am familiar with the Lada brand and it reputation and the road noise compares to a basic model however, the body panels are much better and more durable. I am highly disappointed to say the least.
- —Guest JKM
- Hi Guys! I think my story is worst of all.. But still wana share so it be a lesson for some.. I got high craze for bikes while i was earning around 3500 a month.. Instead of buying small one i went for the top of the line Suzuki Boulevard M109r no doubt it was a beast! It costed me 12000 with no down, and monthly was 235 for 5 years.. Back of my mind i planed to sell it after 1 year so i cud pay back the loan.. I did so, i sold it for nearly 10k but kept the money with me.. Soon lost my job n had to pay all that money in rentals etc.. So all of dat gone.. I got the job but now i m paying 235pm but with no bike :( i wish i had paid back the loan. :( moral: stay away from loans :(
- —Guest Wildme
Trading or Selling
- There seems to be no reason to trade in or sell your old car(s), you are better off keeping them if they are running. If you can only get $2500 or whatever for it, the dealer or buyer is the one with the advantage. If values have plumetted so much, I would rather be the one buying the cheap car and worrying about where to park it than giving it away.
- —Guest Mark
- I bought a car in 2001 with a high monthly payment. I had two jobs to pay for the car and I lost the major one. I had the car repossessed later and they resold it for $4000 and they said I still owed $7000. After not paying them, they garnished my wages, emptied my bank account, and they garnished my state tax returns. Now, 8 years later after they repoed the car, they say I owe $8500 o it and they are once again going to garnish my wages. What do you think is the best way to handle this?
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