How do you know when you are ready for a new car?

Question

I bought a car and paid in full when I was 17. It is a '97 Cavalier and I love it. There are just a few things going wrong with it and I would like better gas mileage. Yes, I get about 32 mpg on the freeway, but basically the only time I travel is just over 110 miles (1 way) to my boyfriends house, and his college is 40 miles. So I was hoping to sell my car now (hopefully to someone who has a truck and wants a cheap car just to get them to work) before regular gas mileage is around 80 mpg for a new car, and no one will want a 32 mpg car. Because right now I can get at least 3k for it, I think. So I guess another question is what is a good, cheap car has more than 32 mpg?

I'm 19 and I live in an apartment by myself. I work full-time. I can afford a car payment if I need it, but then I wont have a lot to save for a house. It would be kinda tight if I did have it. I spend one paycheck a month on rent/food/transportation/etc. So I would only have about $700 extra a month.

Answer 1

if i were you i wouldtn get a new car.  right now with your money situation i would wait on getting one.  if your car breaks you dont have to drive it, if you get a loan on another car you have to make the payment, you cant just not drive it and not have to make the payment.  so you dont get that bad of gas mileage as it is right now, so i would stick with what you have until your car completely stops working and you are forced to buy a new one.  but if you are going to buy a new one i would suggest a cobalt, i just bought a 05 coupe ls and love it...i just wish it was stick

Answer 2

Well don't worry about value going down because of gas mileage. 32mpg is great for any car, cars wont be getting 80 mpg anytime soon, so don't worry about that. New cars wont be rolling out with 80mpg for a long time. In fact i heard that by around 2012 they are supposed to get 40mpg according to some proposed legislation(s) i heard about.

In your situation, you can really go either way. I mean 32mpg is great for a car, you can go buy a Honda Civic that will get you 36-40mpg highway, but then also consider that anything you save in gas, is gone because you have to make car payments. So it basically comes down to, do YOU want a new car or not? Financially, it seems like your able to get a new car without a problem, but you have to think is it worth the new payments? Can you fix your current ride and keep it and still pay less than another car payment?

If you really want a car that gets over 32mpg, go for an older Honda Civic, or if you want close to 50mpg, get a Honda CRX HF. It gets about 41city/50highway.

http://www.fueleconomy.gov/f*g/noframes/...

If you can sell your car for $3,000, then you can probably get a CRX with that money. The only trouble is actually finding one, and one that hasn't been beaten up. But you can probably buy a good one, with no other payments with you $3,000.

Answer 3

I buy only new cars so that I can be sure of their history.  My Toyota Corolla lasted me 14 years before I gave it away.  My Honda Accord has lasted me 9 trouble-free years so far.  Advice that stuck in my head about when to buy:  When the repairs per month average out to be the same as a "normal" car note, it's time to buy a new car.

Answer 4

You can tell you need a new car when your repair bills exceed your car payment.

no, you shouldn't buy a new car now. Wait until the new hybrid technology comes out to buy one. Why? well, the only car that would get a noticeable amount more on MPG would be the Prius, which is expensive anyways. 32 MPG is the same on any civic or corolla out there on the road.

save the money so you can buy a NEW hybrid when they come out.

Answer 5

Don't.  Keep the one you have and save for a house and get an IRA for retirement.  You need to remember what is a need and what is a want.  As long as it is running good keep it.  Get a new paint job or buy some covers for the interior if you need to or upgrade your stereo if you want but don't fall into the hype that if your car is old it is no good.  My car is over 11 years old 97 nissan altima and it runs really good. Looks like your budget needs to put this on halt anyway.  My advise: Keep the car, save, save, save.