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Should I buy a 43,000 mile car for $10,000 before graduating?

  • Ok so I'm going to graduate in December from college. I was going to wait til then to buy a car til after graduation but today I just found this nice mitsubishi for $10,000 dollars and only 43k miles. The price is definitely right, i love the car, its in great shape. I don't think i'll find this nice of a car for the money after I graduate. I would put down around $4000 and get a loan from my bank for 5 years to make 120 dollar payments. Insurance is about 140 a month for full coverage. What do you think?

  • Answer:

    What is it, a Galant, Eclipse? Does it book for 10K? You are only paying $ 1,200 in interest over a 60 month period, so your interest rate must be good. So your financing is good. 60 (months) X $ 120.00 (per month) = $ 7,200 (total monthly payments) + $ 4,000 (down payment) = $ 11,200 (complete total) - $ 10,000 (price of car) = $1,200 in interest Get the vin. number, year, make, model, and options, go to Kelley Blue Book or NADA for used car value and that should answer your question.

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personally I would go even cheaper even if it has more miles on it, try http://www.traderonline.com

Indiana Jones

Can you afford the payments? If so why are you asking? Persoanally I would buy the biggest meanest truck money could buy but then thats me. If you love it. You like the price. You can pay the price then go for it. Oh in 8 weeks you will not love the car as much as you do seeing it in anothers hands but you'll still like it. Works the same way with women too.

cold_fearrrr

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