Rich Lafferty's LiveJournal (mendel) wrote,
Rich Lafferty's LiveJournal

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Car financing dilemma

I am annoyed with my car (a 1999 Saab 9-3, for those just tuning in).

For a long time it's had a wobble in the steering wheel and in the seat, even through multiple balancings and road-force balancings and lining up runout with the low spot on the wheel and all that. Could've been being rear-ended a couple years ago, could've been from flatting out at 130 km/h, could just be 150000 km on a 4-year-old car, could just be bad luck, but it's just not that much fun to drive anymore. I don't like using it to get out of town because I don't trust it; I don't take the long curvy way home from work anymore because it's not fun.

The problem, of course, is that I'm halfway through a loan, which means I'm almost certainly upside-down, probably by a few thousand dollars, but best I can figure being upside-down doesn't actually matter, since the only thing that's going to make you not upside-down is your own money, and then it's just a question of whether you want to pay now or later.

So with that out of the way (since it just becomes a question of whether or not I can afford it), I'm trying to figure out what to do. I think I could get less car — either something less fancy or something older — and still enjoy it, although there's always the chance that I could end up in the same situation.

Poking through Auto Traders I find myself looking at A4s and Jettas and GTIs and Accords and Acuras and Legacy GTs. Alternatively I could get something old enough to have had everything replaced by now (past the "if it was a lemon it'd have been junked" age) that's still interesting and drivable and has parts available and isn't completely impractical -- 944 or 300ZX or something like that. And there's always leasing if I manage to talk myself out of going used again.

It seems to me that keeping around the current car is throwing good money after bad, and doubly so if it needs more work in future (I'm beginning to suspect the vibration is drivetrain-related). What I've paid already are sunk costs and it doesn't seem to make sense to sink more — I should take my lesson (which in this case is that I'd probably be better off with slightly less low-mileage car than a fancier high-mileage) now and start fresh: sell the car and pay off the loan and then start looking again, basically, with enough overlap to make it possible to get to work and such.

I wouldn't roll the loan over to the next car. If I couldn't afford to pay it down I'd wait until I did, or I'd just forget the whole thing. I would need a loan on the next car, but hopefully not as big of one; I'd just be starting over again and not buying as much car.



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