Driving an old clunker/beater car embarrassing?

Get some tools and do self maintenance and repair.

Put the average monthly car payment amount based on average bran new car prices and interest rates aside.

Keep doing it for the full term of the average car loan.

By the time its time time to scrap the beater, you will havr saved up enough to buy a brand new car cash outright. Will have also developed a good habit to prepare for upgrading the brand new car as the time comes.

Top | New | Old

tindrummer · M

My raggedy '93 Accord gets me around town just fine and no monthlys for 20 yrs.
My wife drives our nice "new" 2012 Forester. 🤓

swirlie · 31-35

I disagree. If you keep a car beyond 8 years, you will not be able to use it as a Trade-in because no Dealership will want it on their lot. Your only choice will be to spend money on fixing it up as it's components reach their shelf life expectancy, which means you won't be saving any money whatsoever for a new vehicle at that rate.

My advice to you is to buy a car that's only 1 year old with low mileage, then drive it for 2 years and plan on trading it at a car Dealer when it's no more than 3 years old. You will never pay for any repair maintenance if you do it this way, apart from oil changes and filters which are not repair items.

YoMomma ·

Not for me but for my elder brother he would go stand by a fancier newer car in the parking lot because he was embarrassed 😅 of our family's old car..

HobNoblin · 36-40, M

They're superior cars now. Modern cars are junk off the assembly line. Full of expensive impractical electronics that will break down in no time. Junk.

Moneyonmymind · 31-35, M

I’d rather a shit car than high car payments every month 🤷🏾‍♂

Alabamarednek · 41-45, M

@Moneyonmymind this is my financial advice for people who want a nice car but dread the car payment. I know bankers hate that advice as there is no money for the banks go make on it.

You also wouldn't spend a whole 5 years of savings on a car doing it that way, as 1/3 of a 5 to 6 year term of car payments is paying the interest which can easily go twards the full coverage insurance you would want on something like that.

This comment is hidden. Show Comment

Add a comment...