Comments on: Could it be a payment problem?

By: Al

Al — Fri, 09 Oct 2009 16:16:37 +0000

In the spirit of this thread, I say learn how to repair and maintain the $1000 car yourself. I bought a $1000 ‘92 Chevy truck over 4 years ago, and it has been a great investment. I have spent about $500 during that time in repairs that I performed myself, and this includes the cost of several specialized tools that I now have forever to use in the future (most jobs can be done with basic tools-socket and wrench set). This truck works just as hard as a new $35,000 truck and cost less than the down payment on a new one. It has paid for itself many times over.

By: Kristin

Kristin — Thu, 10 Sep 2009 01:43:53 +0000

Jen,

The $1,000 car (and I’ve seen some pretty good ones lately) is there to get you though a year or two so you can pay off some debt and start getting back on track. If you have a $300 a month car payment, you could save $150 a month for another car in 18 months and add an extra $150 a month to your debt snowball ($2700). I’ve had a number of $1,000 cars, one of which lasted me 4 years with little maintenance. There are some great deals out there if you look for them.

By: Jen

Jen — Wed, 09 Sep 2009 18:31:03 +0000

I usually love your advice but have to say, not this time. Ah, but that $1000 car will cost you way more in the long wrong in repairs and to maintain. Yes, my car payment sucks but I never fork our any money to repair anything and I know I have a reliable car every day.