Is this the car for me?

Question

I found a 2007 Kia Spectra with 5,000 miles on it. It is at a Mazda dealer, and was bought at a closed sale for dealers. They say there is nothing wrong with the vehicle. They are asking $10,000 for it, however, I only have about $4000 to spend right now and my parents don't want me going $6000 in debt (I am only 18). KBB values this car at $13,000. Should I take the chance that this a great car and go into debt at 18 or should I wait until I have more money to spend on a car?

Answer 1

No, wait.  Especially with raising gas prices.  Ask someone your close to lend you their car.

Answer 2

I`m with the camp advocating waiting. If you`re hellbent on a vehicle right now, I would have someone help find me a good used vehicle. Stay with something basic, small no frills import or domestic, to suit your need, and your budget.

Answer 3

I work in the automotive industry and would be very careful when buying ANY product made by KIA. I know this sounds bad, but a lot of banks don't lend money on them! The Spectra is known as a "disposable car" meaning that after 4 or 5 years, they aren't worth anything, and it is time for a new one. (I don't want to discourage you, only trying to help!)

:)

Answer 4

For that car, wait. No Kia is worth debt at the age of 18. You've got college coming up and you'll find plenty of ways to get around without a car. Keep the money and you'll be glad you did in the long run.