DH wants to buy a used car and sell his...I don't know...I need advice

DH bought a VW RAbbit convertible (1981) the week before we met. It never ran well, he kept breaking down. We finally took some of the wedding money and had a garage pretty much repair everything with the car's engine. The body needs some work done but it's not too bad (ie: new paint job and do something with rust on the bumper). I've asked him if he wanted to sell it numerous times and he said no becuase he wanted to fix it up. He spent upwards of $4000 over 3 years to get the engine fixed on a car that he bought for $1000.

Well I think he's gotten a bit sick of it because he's on the phone to me now (I'm at work) and is looking at a Pontiac Grand Prix - 1996 - 76,000 miles and it's selling for $1500. From what he's saying and he's looking right at the car on the street now, it's in great condition on the outside and inside.

I find that a very low price for a car that is supposedly in great condition. I made him give me the VIN # and the license plate number and I'm about to go on Carfax.com to see if it's been in any accidents.

Now the thing is - DH likes to spend $$. And personally I think that if he spent so much money fixing the VW, he shouldn't sell it because it's a waste. I mean what if the Pontiac runs like **** after he buys it? It's just more money down the tube.

I don't know what to tell him. He is sick of driving a stick shift which is why he was thinking of selling the VW. I don't know if anyone would want to buy a car that old.

Any advice?
Thanks.

Re: DH wants to buy a used car and sell his...I don't know...I need advice

i would sell the VW and lease a new car, after what he went through i would not want to chance another used one...

ETA: if he has his heart set on buying used i would look for years 99 and up...

Re: DH wants to buy a used car and sell his...I don't know...I need advice

ok here is my thought.....if you are trying to save money....then buy your car outright.........dont lease..i think you should always buy what you can afford

Re: DH wants to buy a used car and sell his...I don't know...I need advice

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Posted by maiahsdad

ok here is my thought.....if you are trying to save money....then buy your car outright.........dont lease..i think you should always buy what you can afford

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normally i would agree with you, however there are some instances where it's 'cheaper' to get into an affordable, reliable car and not pay those unexpected potential maintenance nightmares (VW case and point).

i am a big fan of buying outright but have the budget to do so, my sister on the other hand is contemplating leasing a new civic for under $200/month with very little down because she is just starting out and doesn't have a lot of cash on hand. i think for her safety, wallet, and peace of mind, leasing may be a better option for her...

FH and i just bought a new car and put 50% down to get to reasonable monthly payments. parking and insurance in hoboken new jersey is INSAAAAAAAAAAAANE!!!

Re: DH wants to buy a used car and sell his...I don't know...I need advice

yes but if you drive a lot...more then 12,000 per year you pay out .....plus the car is not even yours when the damm lease is up........i still disagree..buy now what you can afford, yes a later model would be best....but i just think that leasing a car is nuts......i mean come on i drive a ton of miles a year and not everyone does but 12,000 per year...thats just nuts......i am not trying to say you are wrong, it's just my two cents

jonn

Re: DH wants to buy a used car and sell his...I don't know...I need advice

My DH is a Pontiac, Buick and GMC truck dealer. I asked him about this car and he said its a low price, but what you should expect to pay on the street, as opposed to a dealer. He did tell me the GRand Prix's have changed a lot since 1996 so the resale value down the line will not be that good. Please FM me if you have any specific questions (I'm on vacation until the weekend though).

Re: DH wants to buy a used car and sell his...I don't know...I need advice

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Posted by maiahsdad

yes but if you drive a lot...more then 12,000 per year you pay out .....plus the car is not even yours when the damm lease is up........i still disagree..buy now what you can afford, yes a later model would be best....but i just think that leasing a car is nuts......i mean come on i drive a ton of miles a year and not everyone does but 12,000 per year...thats just nuts......i am not trying to say you are wrong, it's just my two cents

jonn

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i personally won't get into a lease because of restrictions, but it may be 'worth' it to some people who 'need' a new car every few years. my FH is one of those people , so the way i see it we buy one and lease another when it comes time to do so. it's not the 'cheaper option', but it's an option that satisfies both of us. one car we can beat up and drive into the ground no restrictions, the other we will have to be more careful with...

as for my sister, maybe she will just get a loan instead of a lease, she wants to get another year out of her current POS before she makes that decision