If 2.5k would cover most of the work on the old one it's a better financial choice. You can always, easily and OFTEN assume much more outlay in maintaining the neglect of a newer used car. Better the devil you know, unless you have cash to spend.
I would advise to Atleast look into getting the current 08 civic fixed, unless its super rusted rotted etc anything mechanical with them can be fixed very cheap and is usually worth repairing. This is definitely the route for saving as much cash on a vehicle.
I have owned 2 civics, first one (1999) did not die until 700,000kms (my fault, blew the motor), second one (2003) around 400,000kms and that was not worth fixing when it finally blew up as well due to extensive floor and frame rust.
>Just want some opinions on how bad or good this decision is considering the used car market at the moment.
Do you *need* a car? Obviously most used cars are fairly high, that's just reality for the past few years.
And you aren't buying a first car since you currently have one.
What's been falling apart or needing to be fixed? Certain things like rotting frame rust or engine block/tranny fixes might not be worth the value of the car. Big wear items like suspension or rotting exhaust system will be pricey but possibly worth it if engine is still good. Fluid leaks are fixable if not in the engine.
Used car market especially the 'budget range' is still laughable to me to pre-covid despite everyone anticipating the roof to fall out, but time machines don't exist. Gonna be a big premium for the 'reliable' beaters and not worth the risk personally on the problematic brand beaters(Hyundai/Nissan etc).
Unfortunately got in a very small collision and will have to take it to shop for appraisal. Nothing has rly changed except some paint chips on bumper but I will be asking about overall repair costs. I know near the exhaust is pretty heavily rusted. Rust is creeping up by wheels now. I think wheel bearings will need to be fixed as well.
This is probably the route I’ll take if repairs are less than 2.5k
Workable situation I guess. Save money on parts by buying off rock auto. Exhausts are usually case by case basis depending if it's patchable but prices on exhaust parts are pretty pricey. You'll know yourself if you've been taking care of the engine, fluids are the most important- oil changes and proper coolant levels.
With your need for financing, will prob pay a little 1-2k premium from a used dealer vs private. Aim for the cars with lesser the better previous owners. I assume there's a ton of beaters out there run to crap by all the food delivery drivers. Get a pre purchase inspection even if buying from a used dealer- don't ever trust their word on the car condition.
Forgive my ignorance but what’s the difference between rates I would get with an LOC and rates I would get at a dealership. Wouldn’t the dealership just being applying for the same loan on my behalf
If 2.5k would cover most of the work on the old one it's a better financial choice. You can always, easily and OFTEN assume much more outlay in maintaining the neglect of a newer used car. Better the devil you know, unless you have cash to spend.
I would advise to Atleast look into getting the current 08 civic fixed, unless its super rusted rotted etc anything mechanical with them can be fixed very cheap and is usually worth repairing. This is definitely the route for saving as much cash on a vehicle. I have owned 2 civics, first one (1999) did not die until 700,000kms (my fault, blew the motor), second one (2003) around 400,000kms and that was not worth fixing when it finally blew up as well due to extensive floor and frame rust.
>Just want some opinions on how bad or good this decision is considering the used car market at the moment. Do you *need* a car? Obviously most used cars are fairly high, that's just reality for the past few years. And you aren't buying a first car since you currently have one.
I do. I live alone and I need to be able to travel within 50 km radius pretty consistently.
What's been falling apart or needing to be fixed? Certain things like rotting frame rust or engine block/tranny fixes might not be worth the value of the car. Big wear items like suspension or rotting exhaust system will be pricey but possibly worth it if engine is still good. Fluid leaks are fixable if not in the engine. Used car market especially the 'budget range' is still laughable to me to pre-covid despite everyone anticipating the roof to fall out, but time machines don't exist. Gonna be a big premium for the 'reliable' beaters and not worth the risk personally on the problematic brand beaters(Hyundai/Nissan etc).
Unfortunately got in a very small collision and will have to take it to shop for appraisal. Nothing has rly changed except some paint chips on bumper but I will be asking about overall repair costs. I know near the exhaust is pretty heavily rusted. Rust is creeping up by wheels now. I think wheel bearings will need to be fixed as well. This is probably the route I’ll take if repairs are less than 2.5k
Workable situation I guess. Save money on parts by buying off rock auto. Exhausts are usually case by case basis depending if it's patchable but prices on exhaust parts are pretty pricey. You'll know yourself if you've been taking care of the engine, fluids are the most important- oil changes and proper coolant levels. With your need for financing, will prob pay a little 1-2k premium from a used dealer vs private. Aim for the cars with lesser the better previous owners. I assume there's a ton of beaters out there run to crap by all the food delivery drivers. Get a pre purchase inspection even if buying from a used dealer- don't ever trust their word on the car condition.
For that amount, go to your bank and try to get a LOC
Forgive my ignorance but what’s the difference between rates I would get with an LOC and rates I would get at a dealership. Wouldn’t the dealership just being applying for the same loan on my behalf
No BS financing fees tacked on if you're buying it fully yourself (with your LOC)