Posted by Fastman (209.179.227.80) on May 13, 2001 at 16:49:45:
In Reply to: $99 a month car.......... posted by Craig Selvey on May 13, 2001 at 09:08:49:
: I am not sure what kind of finnancial shape you are in, but I don't think a $99 a month car is going to solve it.
: First off, if you are BUYING this car for $99 a month, it will either require a huge down payment, or you will be paying $99 a month for about the next 8 1/2 years. If you are LEASING this car, it will also reguire a huge downpaymnet and when the lease expires, you will have to either buy the car or turn it back in. I would be very skeptical of a car for $99 a month. Maybe the first year is $99 a month, then it jumps to $300 a month after that. Maybe it requires a huge paymnet at the end of the loan. Something is up, because new cars (even a Focus) can't be bought for $99 a month.
: Second, the Ford Focus insurance will be way higher than the insurance on the two Mavericks combined.
: Also, not sure where you live, but what about Sales Tax? Here in Indiana that would be about $750 on top of the price of the car, and must be paid at the dealership when you pick up the car.
: Not sure how far you drive your Daily driver Maverick, but $99 would buy a lot of gas a month for a car with cheaper insurance and the Maverick is already paid for.
: Just some things to consider. Not trying to rain on your parade.
One of my main problems is gas. Gas has shot up to $2.01 a gallon for regular right down the street from me. My car(70) gets bad mileage and I have to drive 150 miles each day round trip to work. This isn't cost affective.
I have to fill up the car practically every day. I am spending approx. $650 in gas per month! Plus my insurance is 67 a month for a grand total of $717 I am unsure if the Focus is a lease or purchase at long financing or what, but $99 plus insurance and gas is going to be less than my monthly total for gas in my Maverick. The reason for a possible selling of both Mavericks would be for a down payment.
My real problem is where I work. I work in the movie business and they are laying people off where I am because of this strike crap. I was called up yesterday and told that I am going to be paid less per hour until this crap is taken care of because the company I work for says they can't afford much incase of a long strike period(they are preparing). I know this sounds stupid, but it is true. I know many people who have gotten let go over the last two months in preparation of a strike.
I hope this striking is delt with soon, I really don't want to give up my cars. :(