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Forum
-> Household Management
-> Budgeting & Bargains
workermom
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Sun, Mar 19 2017, 3:23 pm
I need help. We need a car aoon as I am BH expecting and I will need one after I have thw baby. Currently I borrow cars from my parents (who are not happy about it) or inlaws (who are moving).
We were supposed to get one of my inlaws cars but there was an accident and no more. We are trying to decide which is a better option.
If you have either leased or bought or both can you help?? We need the cheapest option possible...
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mha3484
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Sun, Mar 19 2017, 3:32 pm
We financed a 5 year old car.
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MMCH
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Sun, Mar 19 2017, 4:13 pm
weve done both.
currently we own1 car and lease a van
it depends on a lot
do you drive a lot ? do you need a lot of mileage? do you have enough money for a down payment ?
if you put a lot of miles on your car, its worth it to buy a used car- but keep in mind, used cheap cars often are old, and come with a lot of problems that will need a mechanic.
-can you afford monthly payments towards a lease? do you/dh have good credit?
leasing is the easiest and fastest, and there are very good deals out there often, but it comes with a price of course.
good luck
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cuteness613
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Sun, Mar 19 2017, 9:13 pm
I just ended a lease and had a disaster of an experience turning it in...I'm still being hit with fees and the person who told me they'd help me told me oh I'm charging u and when I told him that's not what he told me originally he said ur right now I'm not gonna do it for u...So turning in is a real headache unless u plan on leasing the same make or buying out...Had I known what I now know I would have rented for a month or two before I finalized anything
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kiryat sefer
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Sun, Mar 19 2017, 9:21 pm
I recommend leasing because I had to many times in my life that cars broke down erev shabbos.
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cm
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Sun, Mar 19 2017, 9:37 pm
Can you afford a certified used car with a warranty from a dealer? A really cheap used car may be unreliable, which can be worse than no car at all.
If you decide on a used car, be sure to have your own mechanic look it over before finalizing the deal.
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amazingmommy
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Sun, Mar 19 2017, 10:53 pm
We financed a 2 year old used car. Our finance is spread over 5 years and we got a great deal. After 5 year we'll have a car that can be sold further for some money.
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HonesttoGod
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Mon, Mar 20 2017, 10:25 am
It depends.
It depends on how much you can afford for monthly payments, It depends how much you can afford as a down payment.
it also depends on whether you prefer getting a brand new car every 2-3 years or you don't mind having a second hand one and having to deal with break downs etc.
It depends if you have a lot of mileage every month (in which case a lease may be difficult) or you barely drive it.
Either way go to a certified dealer/broker who will back you up and get you the best deal.
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mha3484
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Mon, Mar 20 2017, 10:37 am
We did extensive research and chose a car (volvo) that is known to last in the 100,000 mile range. We found one that was 5 years old with a good ratio of miles to years and we financed it over 6 years so the payment is reasonable. We went on cars.com and sat on it until we found the car we wanted at the price we could afford. Some repairs have been more expensive but I hope to get enough years out of the car that its worth it.
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