Thursday, September 21, 2006


OK, blogosphere, time for you to play...


So here's the situation. The transmission guy says that my car needs a complete overhaul, which will cost $1400 (which is less than the guy who did the overhaul on my Oldsmobile charged 12 years ago, but that's another story). Now, I can pay to have that done within three weeks (four if I want to eat). The car has 141,000 miles on it, but it's in good shape - no mechanical problems other than this. Plus, I love it a whole lot.

On the minus side, the car is almost 10 years old. And, it has 141,000 miles on it.

Now, I may be able to get financing to buy a new car now, but I will get an absolutely craptastic interest rate. If I can make my car last another 6-8 months, I will get a much, much better rate because my student loans will be caught up. Not to mention I can open a credit card and start using it and paying on it between now and then, which will also help.

Keeping in mind that I am not planning to drive my car anywhere of any distance (the farthest I can see myself going would be Houston, and that's doubtful), and keeping in mind that I love my car, what should I do?

If you are interested in these details, if I claim my car is in good condition, the trade in value is about $850, and the resale value is about $1500.


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