Should I buy a new used car or stick with what I got?

Question

I'm in the military and have a dilemma, I am 21 years old and I can't decide if I should keep my car or buy a new used one. I have about $5,000 to put towards a new used car or fix the one I have. The car I currently have is a 1990 Acura Legend, it has 250,000 miles on it runs great but needs new gaskets all around, which will cost me about $2,000 to fix. Its a great car, it's just old. It would be more cost effective if I kept it, insurance and repairs, but on the other hand, it would be nice to have a car that I don't have to worry about breaking down on me, I'm so torn. It's more of a personal preference question but would love to hear other peoples inputs or experiences, thanks for answering

Answer 1

well really you could buy two used ones for the 5,000 you got or one really good one and not have to worry about break downs for a while if you check out what your buying ,, id let her go

Answer 2

i have 3 cars

for me my thoughts would be do i want to spend the next 4 years making payments that is why i still own a 96 caprice with 210,000 miles.

i did have a car break down so i had to buy one, now i have to worry about $240 every month.

if this is your only car i would trade it in at 250,000 miles things do have have a funny way of breaking, right now you can put down $5,000 on a car which is a lot.

have a look at carmax i've bought 2 cars from them both with the opt warranty and have had no problems from them they have a good website

http://www.carmax.com/

Answer 3

If you spent the $2,000 on it wont that then just about eliminate the risk of it breaking down?

If you did buy a new car (like new) would the devaluation not be more than $2,000 in the first year anyway.  

Its very hard to know without knowing everything.  To me that quote looks a bit over the top.  If your going to spend thousands would an engine replacement not be better?

I think get a few more quotes.  

Answer 4

buy a new car