Pay off my current car? get a new whip? Car buying strategies

[Huellz Santana]

I have a 2006 honda accord coupe with 100K miles on that I owe about $7000 on. I could easily pay this off now and roll with the car for a minute.

But on the other hand I want a new car. But I don't want another car note.

Advice? I'm not sure how much trade in I'd get, nor do I want to keep two cars since I'm by myself.

How do you guys make sure you get the most bang for your buck when it comes to whips? Yall upgrading constantly and just taking the car note?

Suze Orman says you should buy all cars with cash and if you can't that means you can't afford that car.

I'm financially responsible enough to take on payments and pay it off in a few years.​

 

[Dank Hill]

Don't do car notes bruh, the bank owns that car not you. If I were you I would pay off the accord and drive that bytch till the wheels fall off or until you had the cash to buy the car you want. I know you said you don't want the accord, so what car were you looking to get?

 

[young3000]

Suze Orman says you should buy all cars with cash and if you can't that means you can't afford that car.

Pay off your car and stack your paper. As long as your car doesn't have any real major maintenance problems you good.

Just traded in my 2004 Jeep that I probably should of kept but the dealership made me an offer that I couldn't refuse and I got a great interest rate on it so I took it

 

[King Theo]

i know car payments are annoying. but what is everyones gripe(sp?) against it. Im currently paying my audi and ya its annoying an depressing but if you can afford it why not? Especially if you can afford it. *kanyeshrug* different strokes for different folks i guess

although i think leasing is the worst thing you could do because you will never own your car

 

[Dank Hill]

i know car payments are annoying. but what is everyones gripe(sp?) against it. Im currently paying my audi and ya its annoying an depressing but if you can afford it why not? Especially if you can afford it. *kanyeshrug* different strokes for different folks i guess

although i think leasing is the worst thing you could do because you will never own your car

The rich rules over the poor, and the borrower is the slave of the lender. You're right though if payments are your thing then more power to you. I don't like it because it takes away your net worth. The only time when I would borrow money is if I know I can leverage that money and make more money with it. You're already going to be paying for gas, insurance, registration, and maintenance for it so why add something else thats going to take more money from you in the long run. In my opinion, if you cant pay it off within 2 months then you cant afford it. Anything can happen at any moment where you cant pay that car note. I know people will come in here and say,"but everyone can't just ball and pay for a car with cash tho"; if you can pay car notes then you can buy any ole beater with cash. Its just that most people want to look like they have more money than they actually have and go and finance some base model bmw or something then end up owing more than the car is worth with no way out of the loan.

 

[Huellz Santana]

Don't do car notes bruh, the bank owns that car not you. If I were you I would pay off the accord and drive that bytch till the wheels fall off or until you had the cash to buy the car you want. I know you said you don't want the accord, so what car were you looking to get?

I thought about coppin a used Genesis or somethin. my accord is straight. I don't mind it. I'm not pressed to pay it off because the interest rate is low. That might be dumb thinking but I'm gonna pay it off at the end of the year when I get my bonus.

i dont need a new car. but i aint gon lie. all my homies coppin BMW's and Audi's gettin their young black professional on has me feelin a lil eager to upgrade​

 

[shopthatwrecks]

i goto car auction when i am lookin 4 projects...way cheaper

but i got a audi q5...i got finance thru my credit union..be4 hand...brought my paper work in after i picked wha i wanted got down to the nitty gritty...n asked how can ya finance team beat this..the 450 their team wanted..got dropped 230 a month with what i came in already with..from my credit union

had ads from other dealership that was playa for the wha i wanted..that had different rebates n incentives...and let em know..they r closer to home..but if u aint tombout shyt i aint scared to drive 4hrs away to get what i want..either meet or beat it..

and it was one of their quota cars..

 

[Dank Hill]

I thought about coppin a used Genesis or somethin. my accord is straight. I don't mind it. I'm not pressed to pay it off because the interest rate is low. That might be dumb thinking but I'm gonna pay it off at the end of the year when I get my bonus.

i dont need a new car. but i aint gon lie. all my homies coppin BMW's and Audi's gettin their young black professional on has me feelin a lil eager to upgrade​

The true question is; Do you want to look like you have money or do you actually want to have money in your name? I know some people my think I'm the last person to try and tell someone to go and buy some cheap car considering the cars I drive, but I gotta tell you man, ain't nothing like having that title in your hand clear and free with your name on it knowing you don't owe nothing on it and can get rid of it tomorrow if you choose to do so.

 

[FaTaL]

I have a 2006 honda accord coupe with 100K miles on that I owe about $7000 on. I could easily pay this off now and roll with the car for a minute.
​

nothing better then not having a car payment every month

paid my sh!t off in jan

 

[Dank Hill]

nothing better then not having a car payment every month

paid my sh!t off in jan

Congrats to being one step closer to financial freedom breh

 

[Two Stacks]

I have a 2006 honda accord coupe with 100K miles on that I owe about $7000 on. I could easily pay this off now and roll with the car for a minute.

But on the other hand I want a new car. But I don't want another car note.

Advice? I'm not sure how much trade in I'd get, nor do I want to keep two cars since I'm by myself.

How do you guys make sure you get the most bang for your buck when it comes to whips? Yall upgrading constantly and just taking the car note?

Suze Orman says you should buy all cars with cash and if you can't that means you can't afford that car.

I'm financially responsible enough to take on payments and pay it off in a few years.​

She says if you can't pay it off in 3 years don't buy it. My advice, pay off the car you have and keep it. the cars with the best rides have no notes.

i bought my car when i was 22. i have 2 years left to pay on it. I won't even entertain the thought of a new car until im 30. when i bought my car i knew exactly what i was getting into, and to this day i dont regret my decision and i love my car. the only change i would have made is getting a 3.5 altima if it would have been available.

 

[klientel]

Car note is only bad if you can't afford it. If you can afford it then go for it....yolo

I pay 508 a month for my Camaro and I don't mind it at all. It doesn't hurt me and I have a car that I like and enjoy driving. fukk that "from point A to point B" shyt. I'll push a shytty car when I'm married and in my 30's but while I'm young and in my 20's I'm gonna enjoy myself.

 

[boxfullofjoel]

For those who keep saying "I can afford it", stop think about the payment and think about the principal, interest, loan to value, depreciation of the car and it is a different story.

A car payment might be the worse financial decision period. That extra $300-600 a month can do wonders when invested properly. There are many car buying options,

* Keep what you have until you can buy something for cash
* Find someone who goes to auctions
* Ebay
* Craigslist
* Buy a repairable/project

 

[Profane]

i know car payments are annoying. but what is everyones gripe(sp?) against it. Im currently paying my audi and ya its annoying an depressing but if you can afford it why not? Especially if you can afford it. *kanyeshrug* different strokes for different folks i guess

although i think leasing is the worst thing you could do because you will never own your car

everyone says this but why would you wanna own, in this case for example, a 2006 accord with 100k+ miles?

at least with leasing u can get a new ride every few years. its a good option.

 

[FreshFromATL]

Whether you lease, finance, or buy cash...as long as you can afford what you do, do you . It really doesn't make any sense to ask what's the best option because EVERYONE is going to give you a different opinion and so far, every opinion in this thread has been on point, however its THEIR opinion. ULTIMATELY its up to you, your situation, what you value, and what you can afford. People are out here leasing, financing, buying whips cash, and riding old cars to the engine fallout everyday while continuing to live life the way they want without any problems, just DO YOU nikka.