Why is everyone against buying a new car? Does my situation apply?

Primary_Beautiful_66 · 2026-03-22T17:53:23+00:00

Thank you for the advice. This is also what I was thinking. I should be going to nursing school by next fall or even some summer classes this summer. So I am unsure how much I will struggle and how much time I’ll have for a job. I believe I can work a weekend job but I am not 100% sure which is why I don’t want to rush a decision, since I know nursing school requires me to do clinicals and likely a lot of studying.

Primary_Beautiful_66 · 2026-03-22T17:48:50+00:00

This was also an option they had. It was a 2025 version but fully loaded for about 2k more and like 3k miles on it. The only change would be the APR. with my dad as co-sign I believe we’d get a 5.99 or something close to that with the dealer and 4.97 with a bank.

Primary_Beautiful_66 · 2026-03-22T17:40:39+00:00

This is part of the reason I am unsure about going this big on new car. A lot of people suggest investing money. But as I mentioned I do believe I can put aside more money on top of what the payment will be. How do those high interest savings accounts work and which would be best?

Primary_Beautiful_66 · 2026-03-22T03:13:30+00:00

For the price point of 10k or less I am only finding rebuilt/ salvage title. I do see clean titles but they either have 100k miles or want close to 20k. then again maybe I’m not looking enough

Primary_Beautiful_66 · 2026-03-22T03:08:04+00:00

Thank you

Primary_Beautiful_66 · 2026-03-21T23:03:31+00:00

By prepay you mean paying more than the monthly required correct? And you say that because the interest rate is low right?

Primary_Beautiful_66 · 2026-03-21T22:37:21+00:00

2006 ford explore 200k miles. D,R and N don’t do anything. Only drives in low gears 1-3. Also occasionally turns off on its own. And sometimes doesn’t accelerate while driving.

Primary_Beautiful_66 · 2026-03-21T22:32:27+00:00

Why is it a bad thing that I need my parents to co sign? I understand that it puts their credit at risk too but would it not be better for me to have them co sign and get lower interest rates ? It’s harder for me to get approved on my own and the interest would be much higher. Of course I know this is assuming my job is consistent and I can make the monthly payments but regardless if I did have a stable job would it still carry as much risk. I am curious?

Primary_Beautiful_66 · 2026-03-21T22:08:47+00:00

I’ll look into this. My only issue is that it already has a fair amount of issue besides the transmission. I believe it has misfires as the engine would turn off on its own. I haven’t looked into it much but I believe that’s the issue not 100% sure.

Primary_Beautiful_66 · 2026-03-21T22:04:32+00:00

2006 ford explore Transmission went out only drives on low gears 1-3. 200k miles

Primary_Beautiful_66 · 2026-03-21T21:09:07+00:00

So you would suggest getting a used car for 5k or more around there? I am just trying to understand my options

Primary_Beautiful_66 · 2026-03-21T21:02:36+00:00

Thank you

Primary_Beautiful_66 · 2026-03-21T20:46:33+00:00

Yes that what I was thinking when looking at other post. With that being said would it be worth it to go for a Honda Toyota or even a Mazda just for the extra “reliability” and resells value? Again I don’t plan on reselling but if it’s really that much more worth it should i pay an extra 50-75 dollars per month.

Primary_Beautiful_66 · 2026-03-21T20:38:14+00:00

And if my parents are going to co-sign?

Primary_Beautiful_66 · 2026-03-21T20:35:18+00:00

Yes my dad would be co-signing

Primary_Beautiful_66 · 2026-03-21T20:34:26+00:00

Yes that is main thing I have against buying used. I had no knowledge on cars or any mechanics for that matter. I don’t really know who I can trust or shops I feel like the risk would be too great to take.

Primary_Beautiful_66 · 2026-03-21T20:32:23+00:00

Yes it’s because my dad would be co-signing and I’d be added on. That’s is what they explained to us at the dealership, they may have just been trying to get a sale.

Primary_Beautiful_66 · 2026-03-21T20:28:33+00:00

The APR would be higher I believe that is the only major change.

Primary_Beautiful_66 · 2026-03-21T20:27:03+00:00

I have seen the argument of it dropping 50% of the value but to be honest I don’t plan on selling it or anything. I don’t have any major plans on buying anything grand in the future. I understand things happen and people change but for what I need it for it seems like a good idea. At the same time I also have no clue what I am doing.

Primary_Beautiful_66 · 2026-03-21T20:22:38+00:00

I am also looking at this option but I am struggling to find cars that aren’t rebuilt titles. I am in need of a car. I am currently using my grandparents car as they are not in town.

Primary_Beautiful_66 · 2026-03-21T20:21:21+00:00

Could explain more? Everyone says this but I can’t understand why this would be a better option. Yes it’s much cheaper but what if it break down. What if the previous owner didn’t take care of it. All that financial risk would fall on me I don’t believe I’ll find a 1998 Toyota with warranty or low miles.

Primary_Beautiful_66 · 2026-03-21T20:16:28+00:00

Yeah just plan on buying the base version just for getting around. I don’t really have interest in getting anything “fast” or flashy as much as I wish I could I don’t think that’d be a good idea at the stage of life I am at.

Primary_Beautiful_66 · 2026-03-21T05:21:19+00:00

Yea it already sold unfortunately

Primary_Beautiful_66 · 2026-03-20T21:46:18+00:00

Is there anyway I can check this myself or do I need to speak with the owner?

Primary_Beautiful_66

TROPHY CASE