Quote:
Originally Posted by Dadhawk
You may have gotten the wrong "beater" particularly for $5,000. I bought a 2004 Honda Accord with a little over 100,000 miles on it 4 years ago for my college aged son. It hasn't been in the shop for anything other than maintenance since. I paid exactly $5,000 for it. I know I could have sold it for the $5K after one year, not sure what it is worth now.
I can't defend the numbers, although the market has averaged that over longer periods of time. You can't look at the market on an annual basis. There have been years its done double that and years its gone backwards. Pick your number though, and you can make it work, it just takes more time.
Like I said in my post above, worse case, you pay yourself a car payment for 4 years, you should be able to buy a car.
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Yea if I had to do it all over again, I would've found a Civic.
Right now, I've been paying myself a car note. Can wait to graduate so I can speed the process up.