I currently own a 2007 PT cruiser. In the past week I spent $627 on a tune up and repairs. The tune up cost $427. I have to pay for expensive dealership tune-ups to maintain my warranty which allows the cost of repairs to be $100 each visit. Every time I have taken this car to get serviced (since I bought the car used 4 years ago) it has needed $1000-2300 worth of work. If I didn't have the warranty on this car I would not be able to afford it.
I only make 38K a year starting 2 weeks ago. My new job is an hour away. I cannot move for the next 8 months because I would like to pay my debt off first ($8000 not including school loans and the $8000 is what I would like to pay off before moving).
My car cannot take this commute for long so I have started looking for a car. I have $2000 saved and $2100 in equity in the car because I was told the trade in value is $4000 and $1900 is left on the car note.
I am trying to figure out if I should buy a cheaper car like a used yaris, lease a new Honda civic, or some other option. I can afford about an 11000 note. I was seriously thinking about leasing the Honda civic and then buying after the lease ended. Any advice would be appreciated.
I like the yaris. Dependable, good gas mileage, nice styling.
What's the KBB value of the PT Cruiser? How many miles? I'm guessing you could get at least 6k if you sold it to an individual. Here are some good suggestions for selling your car when you already have a loan. http://www.cars.com/go/advice/Story.jsp?section=sell&story=sellLoan&subject=how_sell