Quote:
Originally Posted by ken0042
One other factor to keep in mind- with that long of a term you may find that at year 4 or year 5 you will owe more than the car is worth. Which means no option for trading it in, and possibly an issue if the car is involved in a crash and needs to be written off.
I was in the same situation as you a few years ago, so I went and bought myself a 1 year old car. As was said above; not all of us can afford to buy a new car- myself included. One of the tough lessons I've learned throughout my financial woes is to not live beyond my means.
Also, are you sure where you will be in 6-7 years? I ask because I know you've tossed around moving to Yukon, Manitoba, and the East Coast.
Not trying to be preachy; just trying to help a guy out.  |
Good point on owing more than it may be worth. Not sure where I'll be in a few months let alone a few years. I'm just trying to cut expenses to start paying down some debt so I can maybe have a bit of money when the time comes for us to move.