need some help with buying a used car?should I? 2001 dodge neon?

[disney_girl125]

I have a 2005 Chevy Cavalier that has 171,000 miles on it that I bought brand new. It's paid off, but alas has a ton of miles on it. I'm a school bus driver so my income isn't that great, and I don't have a cosigner. So, getting a new car loan is really impossible. I tried to make a deal at a reputable used car dealership today. Looks like my only option that i'd even consider would be a 2001 dodge neon with 55,000 miles on it. They would finance me for 22 months. So, after 22 months it would be paid off. Of course they want 1,500 down and my cavalier.
My only other option is to keep my cavalier and hope it doesn't die on me!! lol. I'm coming up to summer break so I won't have any income to show the banks, so trading in my car would have to happen now. It's just hard for me to go from a 2005 which I got new, to a 2001 car. Would you do it? Does anyone know anything about cars to give me some advice here?

 

[Darcy03231]

Well, we drive our cars until they die and by that time most of them have had upwards of 250k miles on them. As long as the Cavalier is still running fine I wouldn't go from a paid off car to a car payment.

Right now DH is driving a 2005 Pacifica with over 150k on it and we plan to keep it at least another 4-5 years. Its been well maintained and our mechanic doesn't see why we wouldn't get that out of it (or more).

 

[AmberHeartsDisney]

What would your payments be a month? Id try to get a honda or toyota. they have a long shelf life/

 

[wdwfan16]

I have a 2005 Chevy Cavalier that has 171,000 miles on it that I bought brand new. It's paid off, but alas has a ton of miles on it. I'm a school bus driver so my income isn't that great, and I don't have a cosigner. So, getting a new car loan is really impossible. I tried to make a deal at a reputable used car dealership today. Looks like my only option that i'd even consider would be a 2001 dodge neon with 55,000 miles on it. They would finance me for 22 months. So, after 22 months it would be paid off. Of course they want 1,500 down and my cavalier.
My only other option is to keep my cavalier and hope it doesn't die on me!! lol. I'm coming up to summer break so I won't have any income to show the banks, so trading in my car would have to happen now. It's just hard for me to go from a 2005 which I got new, to a 2001 car. Would you do it? Does anyone know anything about cars to give me some advice here?

I would keep the 2005. I would never take out a 22 month loan on an almost 10 year old car (will be 10 on 10/1).

Keep your car running and cancel the trip and use that towards a newer car if the 2005 has real problems and needs to be replaced.

How do you support yourself during the summer with no income? Is unemployment enough to cover your bills?

 

[librarygal]

Our Mercury Sable has over 100,000 miles on it and we have decided to keep driving it till it dies. We upgraded to AAA Plus which will tow us up to 100 miles. If we go on a long car trip we are going to rent a car from a local Enterprise office. Renting a car once and a while is cheaper than a $250 a month car payment. Of course, if you feel the car is unsafe you have no choice but before you buy a new care I would look at the Consumer Reports auto issue. They list the best used cars by budget.

 

[disney_girl125]

Thanks for your replies. My cavalier isn't in great running order. It does have some engine problems, but my mechanic doesn't think it's worth it to fix. He said just keep driving it. I have had alot of work done to it. I might just drive it until it dies. That way i'll save $300/month car payment. Plus the $1500 I was going to put down on the car I can keep in my savings! I have looked into doing a long term lease with hertz should my car die over the summer, that would be $671 a month.
I still work over the summer, but my income is laughable! So, I save throughout the year to make up for summer. I do fine, but banks don't like to see that..so can't get approved on my own with a regular bank.

 

[akcire]

A good friend of my mother's has a ridiculous number of part time jobs, including a bunch of babysitting. I would essentially say she has no verifiable income, since all her jobs are in constant flux. (She has lived this way for 10 years and is happy).

Even with all this, she was able to get a car loan from Toyota. She purchased one of those boxy Scions. I think she put down $1,000. She even made an arrangement where she could pay the loan at the dealership--but is not dealer financed??? She is a bit of an odd duck. What I am really trying to say is that it may be worth checking with a new car dealer.

I wouldn't buy a 2001 Neon.

 

[vacamomma]

No! No! No! I have a 2003 and had to get a new transmission last year. Buy a Toyota or Honda they last longer.

 

[libraryfreak]

I would second checking Consumer Reports. I seem to remember the Dodge Neon was rated poor for reliability. I think you can get a better deal from a private seller, have you tried that route? Keep in mind that you're buying someone else's troubles, at least if you kept your car you know what you've done to it and how you've maintained it.

 

[Sarah_Rose]

I would also RUN away, just based on the fact that you're looking at a 10 year old Neon. They are NOT good quality cars and they simply don't last... my family owned one (a 1999, if I remember correctly) and it did eventually get driven into the ground, but that car needed more repairs than any other car we've ever owned. My brother inherited the car when he graduated from high school in 2003 and he was lucky that he had a friend who was handy with cars, because he ended up having to replace nearly everything in that car, including the console when the spedometer died.

I would drive the Cavalier for as long as you feasibly can, and then look at your options. There's no point trading one train wreck in for another, when the first train wreck is paid off!

 

[Carl Fredricksen]

The Dodge Neon was only a reliable car after 2004. Before that, they had issues with head gaskets and transmissions. Keep the Cavalier, and if it is under $1000 to fix it, I would. The late model Cavaliers were excellent cars that would last a long time. Get a second opinion from another mechanic, and don't do the car payment on the Neon. Bad choice IMO.

FWIW, I had a 92 Cavalier that went to 192k with hardly any maintenance done to it, and it still got 27MPG. My brother traded it in for a truck, but it ran like a champ the whole time, even though I neglected it. I have had a Neon as well, but mine was an 04 and was a great car. Anything before that was regarded as junk. Unfortunately, right after Chrysler figured out how to make the car reliable, they stopped making the Neon in 05.

 

[Debbie Jean]

Thanks for your replies. My cavalier isn't in great running order. It does have some engine problems, but my mechanic doesn't think it's worth it to fix. He said just keep driving it. I have had alot of work done to it. I might just drive it until it dies. That way i'll save $300/month car payment. Plus the $1500 I was going to put down on the car I can keep in my savings! I have looked into doing a long term lease with hertz should my car die over the summer, that would be $671 a month.
I still work over the summer, but my income is laughable! So, I save throughout the year to make up for summer. I do fine, but banks don't like to see that..so can't get approved on my own with a regular bank.

Put the $300 you save on the car payment into your savings to add to the $1500 down payment you already have. If you are able to put more money down, not only will you be able to buy a better used car, like a Honda or Toyota, but your payments will be less.

As others have said the Neon simply isn't worth it... I wouldn't be surprised if it died before your payments did. I also would never throw $671 a month to Hertz for a long term rental, even if it's just over the summer... there has to be a better option than essentially throwing away that much money and having nothing to show for it

While the Cavalier is still running, save, save, save!!!

 

[jcc0621]

I am in the minority here. I had a 1999 Neon until last year. The only reason I got rid of it is becasue it was too small for what we need a car for. Long trips with DS, just were not comfortable. IT was a great car and I had to put very little maintenance into it. Just the normal stuff, Inspections, oil changes, I did have to change the tires twice in all that time

HOWEVER, to take a load out on a car that old would be a no-no in my book

Good luck

 

[Huff]

Get pre-approved for a loan from your local bank. It would be far better to find a decent car from a private party than a dealership. People go to dealerships because of convenience. The dealer does all the paperwork etc. But you pay huge for that convenience, several $1000 more than you could buy from a private party.

 

[SunnieRN]

I had a friend that owned a dealership that sold all vehicles that were at least 5 years old or more. He explained the way his dealership operated.

Buy older cars, dirt cheap from people, or wholesale from brand name dealers. Do minimal work to meet safety requirements, etc. Sell the car in the following manner: Require a down payment that is equal to the cost to the dealership. Anything else is gravy/profit. This means you are paying 22 payments on a car that has already been "paid for".

I say (and he said), keep driving the car you have, until you can't. Save as much money as possible in the interim so that you have a large down payment. Go to a reputable dealership, (that wholesales out those types of cars for $500 to my friend), and get something newer, with a good reputation!

Good luck and that's great that you are managing to support yourself 12 months on a nine month income!!!

 

[MomRN]

No deal. A brief check at Edmunds says the Neon is worth @3,500 (not knowing the specifics) and your car is worth @4,500. They want your car, $1,500, and you still have payments.... no thanks.

I have an 03' Saturn that has given me fits, but all during warranty. I plan on keeping it until it dies, hopefully have awhile (75,000 miles). I like not having a car payment

 

[disney_girl125]

Thank you for all the replies. I'm sure glad that I posted on here, because you all helped me come to my senses! lol. I have spoken to alot of places, even tried to contact financing institutions on my own. The bottom line is I just don't make enough income. Technically I do make enough for a car payment, just not in their eyes. So, I think i'm just going to drive my car for as long as it goes. But i'm still considering a hertz long term lease for when it does go.

 

[cheerforchelsea]

Hang on to that Cavalier.....we had a 1997 that we drove to 198K miles and still sold for $2000 about 2 years ago. We never had any trouble with it other than a gasket leak that was about $500 to repair. It still ran great when we sold it. We currently have a 2001 Cavalier with 90K miles on it.....still runs and looks great. I am planning on at least 100K more miles on it!! I do admit it is not my primary mode of transportation but it is my "work" car and I would not hesitate for a second to take off to WDW in it right now.

 

[seashoreCM]

When you test drive a car, it should work perfectly. Also test all the accessories including power windows, windshield wipers, backup lights, etc.

Do not, I repeat, do not accept any excuses from the seller about what looks or sounds or feels like a defect. He should have fixed it himself instead of giving an excuse.

Disney hints: http://www.cockam.com/disney.htm

 

[torinsmom]

So, you have the $1500 down payment you can save. You were planning on paying $300 month towards this "new" car. Save that up as well. In two months, you will have $2100 and still have the Cavalier. You could use that money to either fix the Cavalier, or you could sell it to someone who could(not for junk) for maybe $1000(a PP said it is worth $4500 and a good mechanic could fix it up and sell it since they only pay for parts) If you can do that, you have $3100, with which you can either put down a down payment on a more reliable, "younger" used car or even buy one straight out.

Once I pay my current car off, I am driving it until it won't move. I am soooo tired of car payments!