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Old 09-19-2012, 12:16 PM   #16
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Originally Posted by mrodgers View Post
Doesn't matter whether it is certified pre-owned or private or used lot. A 2 year old car would have manufacturer warranty in any case.

My 2006 Ford (bought new 2007) was out of warranty time-wise in 2010. When the Ford ran out of warranty I happen to buy a 2003 VW used (2nd car) from a hole-in-the-wall used dealership in the middle of nowhere and it still had a year of factory warranty left. Had I bought the 2003 used the same time I bought the 2006 new, I would have had a much longer warranty time than the brand new car.
I think it depends on the manufacturer. Some extend the warranty for certified pre-owned.


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Old 09-19-2012, 12:55 PM   #17
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I drove myself and 3 kids plus my mother from Ohio to WDW this past June in a 2004 vehicle (GMC Yukon XL Denali) with 160K miles, no problems and we have plans to take it back to WDW next Thanksgiving (2013). If the van is running fine and you have no reason to doubt it will make the trip (known problems I mean) then take it and enjoy knowing it's paid for. What is the worst case scenario really? It dies a catastrophic death on the way to or from Florida and it's not worth fixing. Sell it to a local junk yard for parts/scrap, rent a car to finish your trip and buy a new car when you get home. Just do your research on what you'd want to replace it with, so you aren't starting at square one while paying for a rental. If it is fixable, rent a car while it's repaired and go back to get it. We've been in both situations (my car cracked the head on my way home from college for the holidays and had to be scrapped and we lost the transmission in our truck while in Chicago) and never were we/I stranded on the side of the road for hours. Just invest in a road-side assistance program for a little extra peace of mind.

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Old 09-19-2012, 02:13 PM   #18
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The longer you go without a payment, the better off you are. If both cars are reliable, there's no reason to think that they're suddenly going to die on you. So many cars out there will just keep going and going, so long as they're properly maintained.

I like everyone's suggestion of putting that extra money to the side each month. You're going to be better off putting a big down payment, for two reasons. First, the lesser the loan amount, the less interest you pay over the life of the loan (unless you're lucky enough to get 0%). Second, you'll get it paid off a lot sooner and will come out further ahead if you have to trade in before it's paid off!

We had bought a Kia Sorento a few years ago. Brand new, all the bells and whistles, etc. We got a good deal on it, but signed for a payment period length that we shouldn't have. I later returned to school and realized that once I graduate, we'd have the Sorento payment, student loans and my DH would be needing a vehicle. Three loans at the same time! Yikes.

So earlier this year we traded in the Sorento for a $10k Dodge Grand Caravan. We made money on our trade in and got the extended warranty. We normally don't do the warranty, but it's a Dodge. It has about 70k miles on it but I know I can get quite a few miles out of it. So by the time I'm done with school, I should have the van paid off. We're saving THOUSANDS on interest by trading down to something we can pay off quickly.
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Old 09-19-2012, 02:29 PM   #19
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Originally Posted by trinchick View Post
I'd try to keep the current cars and just put the potential car payment in a separate account each month. Then when/if one of them dies you can use that toward a down payment. Two cars will cost the same, regardless of whether you buy them both at the same time or spread it out over a longer period. Save for as long as you can, and you could potentially pay cash for one/both of them.

As for your Disney trip, with two older/high mileage cars, I might consider renting a car for the trip. If you hunt around for deals, it can be surprisingly affordable. Most contracts these days include unlimited mileage, and chances are the newer model you rent would have better gas mileage than the older cars you own. Plus, you'd avoid putting the wear and tear on your own cars.

I agree with the suggestions in this post. Good luck with whatever you decide.
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Old 09-20-2012, 11:29 AM   #20
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We are in the same boat. I drive a '99 van with 135K miles and DH drives and 02 with I have no idea how many miles. We've been car payment free for over a year and I love it! But, the problem like you is I'm afraid we will end up having to get have 2 car payments at the same time. We are also trying to set aside money for when we need to do that but I've decided until there is a very very expensive car repair I will just keep on driving it. We just spent $600 on a truck repair for DH. Don't think just because your car is older it will just die in the middle of a long trip. This spring we drove the 99 van 20 hours round trip and did just fine. We also went 6 hour round trip last weekend and no problems. Just keep plugging away money in your savings and it will be there when you need it.
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Old 09-20-2012, 12:42 PM   #21
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I drive a 1998 Chevy Silverado with over 205,000 miles on it - all original engine/transmission, and it's never had a serious repair. I feel like I'm on borrowed time, so I've started looking around a little bit. The thought of a car payment though makes me cringe. The owner of the dealership where I bought it told me he's seen a Silverado with 400k miles on it. My brother's son is learning to drive in the same vehicle they used to bring him home from the hospital after he was born (another Silverado). I'm just going to have to think about it a little longer...........especially since I really like my truck and can't afford a new or slightly used one right now.
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