OK, so here is my dilemma. I'm leaving for school in two months and I live with my mom and nobody else. Our original plan was for me to take her leased 2005 Honda Accord EX up to school with me at FSU (currently in Miami now) and she would keep my 1994 Honda Accord EX (stick, which would suck on Tallahasee's hilly roads). The 2005 Accord is a shitload of money for us and with me leaving to school we need to save as much as possible. Keeping all this in mind, would it be smarter to keep the 2005 and keep paying for it or take it to somewhere like carmax and see if they can pay off the lease. The car's KBB is $22,170, and we owe $19k. Do you guys think they would give that much, or close, or would we be losing money? Thanks.
College Student needs advice! HELP!
- Thread starter CCT
- Start date
Don't take the accord to school. It will get trashed. Best of intentions, be real careful, etc it will get trashed.
I am sure that a dealer (a decent one that doesn't just try to screw you over) would get your mom out of the lease and into something more affordable.
I am sure that a dealer (a decent one that doesn't just try to screw you over) would get your mom out of the lease and into something more affordable.
Carmax will try and screw your eyes out....
cobraracer46
Banned
Don't F**k with a dealer in order to get rid of the Honda because you will get more money for it if you sell it your self.
can you trade in a leased vehicle towards an older car? if so that would be your best bet. find something reliable, yet older and cheaper. should get some sort of warranty from the dealer as well (30 day etc)
cobraracer46
Banned
venmos1 said:
A good example of the things that you should not do when it comes to dealing with cars!:burn: :bash:
oke: :nonono:
CCT said:
grants and scholorships are your friends!!!!
pay for college first, then if you can afford a car purchase one within your budget.
can your mom afford to pay for your college?
if she can not, she should not be the one responsible for your large expenses if she has to take care of herself. she wants to help you, but you should also want to help her.
with the situation you have presented, i would sell the leased car(get a buy out #, and sell the car privately. if need be get a small loan to cover the difference), have your mom keep her car(or purchase a simalar automatic), and work your way through school. delivering pizza will earn you 20k plus a year or by working ups/fed ex at night(thier student programs are great). this should be enough to cover in state school cost and food and board. i would worry about money for dates, beer, and fun:idea: before dishing out 200+ a month for a car. if you have money left over buy a beater with cash.
good luck!:beer:
cobraracer46 said:A good example of the things that you should not do when it comes to dealing with cars!:burn: :bash:
how so? only new expensive cars are reliable? it he may have trouble affording the car why wouldnt it make sense to trade it in on a cheaper car. as i stated above, researching to ensure its reliable. as long as you can get atleast what you owe why not?
venmos1 said:
because cars go down in value!!!! game set match!
13k for a cheap new car, plus interest, plus higher insurance, ~ $$$$
true cost to own is $32k for a 13k focus over five years. 9,000 is depreciation alone.http://www.edmunds.com/new/2007/ford/focus/100716834/cto.html
take a good running old 2k car, with depreciation of maybe 1,500, 1k yearly maintence and repairs, 7k fuel, 6k for insurance is 19.5k true cost to own for 5 years. thats a saving of over 12k dollars in a five year span. that should pay for 1 full year of tuition and books! :beer:
Well for now I'm going with the plan of surviving without a car up there. Tallahasee is a tiny town and I can manage the walks. Just out of curiosity from seeing one near us for sale, are Dodge Rumble Bee's good trucks? The one I saw was going for 18k with about 22k miles on it, on the Carmax website at a Miami store.
Thanks for the advice guys.
Thanks for the advice guys.
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CCT said:
no! just have fun in college. you will have a ton of friends that will be able to take you here and there!:beer:
CCT said:
get yourself a little scooter... i have one and it is pretty cool...
epper: it is bright yellow with "hotrod ss" stickers all over it.. my old man bought it for me to ride around the lake, since we can't afford 3500. for a freakin golf cart.:rollseyes
CCT said:
You don't have to have a car in Tally, but everything is spread out just enough where it is very nice having one. It is a tiny town compared to Miami, but compared to an actual "college town" it is not. There are a lot more areas to the city than you see if you are going to tour the campus. The "hills" in Tally are not bad and if you're comfortable with a manual, it is a non-issue. Are you going to live on campus??
The scooter is a decent idea to get around campus, but the drivers in Tally are horrible and it would be a death wish getting on the roads with one.
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