Future Cars for purchase

[Whelan]

Probably within the next year I'll either own my Matrix or get something new. Here are some options I've tossed around. I would love a new car (who wouldn't), but the idea of putting $350 a month in my pocket is so enticing.

[ponta2147]

Keep it for another year or so and put that payment money into savings, then you can use it when you buy a new car to have a larger down payment

[lovemyraffe]

Like Ponta says, keep it and save the $ for a year or so.

[michaelgt]

I suggest that you buy a Buick Regal Turbo!

[Whelan]

It's so enticing when your fiance says you can do whatever you want (i.e. buy a new car). But her car is paid off and under 100k and mine will be soon enough. That's all money in the bank. Not to mention I take the train to work and drive on weekends only

[jake75]

At some point being free from the cost and time spent on repairs wins out. We all hope that such time will be longer with a Vibe/Matrix.

[cptnsolo77]

If you saved 350 a month for 4 years that is $16,800 dollars !!! What would you rather have a new car that will be practically worth nothing in 4 years after its paid off OR $16,800 in CASH? Minus inflation of course....lolTake the money that you were spending out to the bank & pay yourself. Someone gave me some sound financial advice last weekend.....Buy it because you can afford it NOT because you can afford the PAYMENT. You dont own your car ( or house ) until its paid off.....the bank does.120K isnt much for the Vibe & should last a couple of more years for you. I say take advange of the fact that you dont have a car payment & save your money. Would life be different if you had $16,800 of extra money in cash? Maybe a little less stressfull if an emergency comes up?.....What if you lose your job while you are making payments?....Dont know how old you are but what if you saved 350 a month for 10 years??? $42,000.....20 years??? $84,000 !!!....Food for thought.....!!!

[Whelan]

Right now I'm at 117,000ish in a 2005 Matrix XR AWD. Oil changes, one tranny flush, tires, brakes, and keeping it clean. Oh and one serp belt change thus far. I take the train to work now so driving has been cut from 50 miles a day commuting to maybe half a tank of gas a week tops. It now has a garage to call home so it is never outside unless being driven.

[lovemyraffe]

Especially if you only drive it on weekends, it would be nice to not have to pay to have a weekend car.

[BlueCrush]

Easy! Keep the Trix and bank the $$$ for as many years as possible or until the Matrix dies or needs some major repairs, which ever is first.

[cptnsolo77]

Wow! Half a tank a week??? I wish I had your commute!....garaged too? Im jelous....

[star_deceiver]

Drive it into the ground!!!

[DressedInBlack]

Quote, originally posted by star_deceiver »Drive it into the ground!!! listen to this brilliant man!

[ramenboy...]

the cars you listed are very enticing. basically the cars i've been lookin at too! BUT, like everyone said, keep the trix and bank the money. there's really nothing like N0T having to watch $300+ leaving your account every month. and its not like just because this is a vibe/matrix forum that we're turning you off of the other cars... you know we've got a bunch of members who've got others hahaha

[jake75]

We're not going to be able to get out of this recession if you guys keep hoarding all your money!

[SlammedNiss]

I bought my Xrs in March 2002. Paid her off in 3years, and would still own it to this day if not for my motorcycle accident last year forced me to sell. Sure was nice not having a car payment for 5 years.

[ramenboy...]

Quote, originally posted by jake75 »We're not going to be able to get out of this recession if you guys keep hoarding all your money! hahaha, i know... crazy catch 22, huh jake! Quote, originally posted by SlammedNiss »...Sure was nice not having a car payment for 5 years. bingo!

[jimincalif]

With the miles you're driving now, keeping it is really a no brainer. Keep it three years and it will go from a 6 yr old car with high mileage to a nine year old car with average mileage. Probably have very little depreciation at all during that time, especially the way you take care of it.Even with today's stellar interest rates, $350/mo should give you $13K, plus what you'll save insuring an older car for the next three years.

[Whelan]

I figured it would be average mileage in a few years given I've cut my driving down probably at the very least 75%. I went from putting 20k plus a year on this car and oil changes just over a month a part to maybe 100 miles a week if that and oil changed on a 3 month schedule. Saving on tires too as I've had the General Altimax HPs on there for almost 2 years with plenty of tread left.Once I get these medical bills out of the way for my broken arm back in June I'll be much better.

[DressedInBlack]

Quote, originally posted by jake75 »We're not going to be able to get out of this recession if you guys keep hoarding all your money! the NBER says the recession ended in June 2009.

[ou.grizzly]

Turbo the 4WD Trix and race KeithVibe in rally cross type event.

[808 Vibes]

Keeeeeeeeeeeep it!!!!!!! Not having car payments (when you're suddenly out of a job) it's a blessing...a truly beautiful thing!

[TONY TAT2]

proably go Mitch A Boo Chee next for new.

[Whelan]

Well tallies are in.I'm gonna be doing something else, taking some bonus money and paying off the car in January. Then I can frame my title

[jkm311]

Mine is paid off in exactly one year, and I can't wait! Congrats, sir.

[Old Tele man]

...like Ponta2147 said, once you've payed the car off, continue to put the same dollar$ each month into your bank, and continue driving the Matrix, and see how much money you can accummulate in that bank account!

[Whelan]

Exactly. I can afford to payoff the loan and not dent my current budget. I am getting my annual raise in December as well to add to savings. Then both me and my fiance will be free of car loans and I can bank $350 a month extra into my savings account from the car loan itself. I see no negative in it so for me come January the balance will be about 3,000 left. So long Mr. Loan.

[midnighthunder89]

drive it till the wheels fall off then put them back on and keep on driviing

[09vGT]

Quote, originally posted by midnighthunder89 »drive it till the wheels fall off then put them back on and keep on driviingLOL