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Old 01-29-2006, 17:05   #1 (permalink)
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need some advice

i currently own a 1997 Thunderbird LX 3.8L V6 with 103k miles, and my brothers father in law wants to trade me cars. he has a 2004 Focus SVT with 8k miles. the focus is faster and in better shape than my car atm and has way less miles, but he hasnt paid it off yet, and if i took it id have to pay off 9 grand. thing is im a senior in high school. i want the focus cuz its newer, probably more reliable and will last me longer than the thunderbird, but idk if i can be that much in debt, either way i plan on souping up whichever car i have, be it the t-bird or focus. i just wanted to see what u all thought? any help would be greatly appreciated
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Old 01-30-2006, 00:46   #2 (permalink)
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Re: need some advice

In your position that is too much debt for you. If you are wondering how you are going to pay for mods on the T-bird and how long it will take to save up the money it will be worse to try to pay a $9000 loan and also higher insurance rates because you are male, your age, and the Focust SVT is a high performance car and probably worth more than your T-bird.

Did he get the 5,000 mile rear wheel noise fixed? This seems to be a standard issue with the Focus SVT and the dealers had a real hard time fixing it and often couldn't. It's a blemish on an otherwise really cool car.
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Old 02-09-2006, 15:37   #3 (permalink)
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Re: need some advice

idk about the noise, and as far as the debt i was planning on getting a student loan, so then i dont have to pay off until i graduate college, and with a co-op program at the college im going to i can easily make 20k while in school
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Old 02-09-2006, 18:05   #4 (permalink)
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Re: need some advice

Do not do the student loan bit!!! I know plenty of people who have been out of school for over 10 years that are STILL paying on their student-loans. Don't follow the path of so many people these days by living above their means. For $9K you could buy several nice used cars along the way...until you are out of school and financially sound. I could go on and on about this, but I hope you make the right decision for the sake of yourself.
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Old 02-12-2006, 22:35   #5 (permalink)
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Re: need some advice

So if you can make 20K (before taxes, so subtract 28%) and then subtract $15K from that for school, plus money to live on.....you don't need to take a loan out on a car.

When you have to pay for all your own food, toilet paper, paper towels, blankets, pots, pans, dishwashing liquid, laundry detergent, utilities, insurance, new tires, new exhaust, cable TV bill, trash bags, towels, cooking utensils, food seasonings, light bulbs, clothes, cleaning supplies, shoes, batteries, and everything else you won't have the money to repay this loan. There is nothing worse than starting out on your own at the bottom of a hole. College will eat up enough of your money.
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Old 02-17-2006, 16:04   #6 (permalink)
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Re: need some advice

true, didnt think about it like that, thanks
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