The Car Is All Worn Out. Exactly What Should I Perform?

Question:

Precious Steve, I would like two fresh cars(used cars) but We dont understand if I ought to fix these kinds of old automobiles or industry them within and buy a couple of used kinds. My 2007 Kia Optima has 165K miles onto it and will not pass inspection -- it takes a catalytic converter in addition to new auto tires (maybe $1,5k? ). The ex-wife includes a Kia Sedona with 100 000 miles and needs new a new transmission (Maybe over $3k). These types of cars are paid off and both need cars, more so, me. Without car loans right now, I barely pay our bills on a monthly basis. And I only have a little above $2k in savings. I also just had an auto accident that was 100 percent their mistake and acquired a check with regard to $1500 with regard to damages. My ex-wife does not do a lot of generating but I do a ton sadly. Do you have several financial suggestions of exactly what my most suitable choice to do is made for this really stressful situation? Thanks a lot so much! George

Response: Dear George, Well, a person gave me several important signs. You said you presently do not have any kind of car transaction but you usually are barely obtaining by and possess little in savings. I also get the impression you are not living lavishly plus dont have very much to cut in the budget. So we must piece together a solution that does not raise your transportation expenses and still allows you to have dependable transportation. Internet marketing not sure thats possible. Both these styles your cars appear to be cared for but they have worn out essential components. When vehicles attain the end of their affordable or perhaps useful existence the options are to fix them upwards or say goodbye to them. They will reach an area where correcting them simply gets you a free membership in the Fix of the 30 days club. I really could not assist but observe that you are wanting to come up with an answer for you and your ex-wife. You know Im pretty good at the things i do nevertheless figuring out a response for two today separate and divided homes is past my pay out grade. Im a huge fan of getting used, instead of new cars but your situation is a bit different. In your case, with limited additional resources, I really like new cars with value for money and amazing warranties. Brand new car loans from companies can be obtained together with really great costs and here is how to do that. A new vehicle will give you the financial defense against a major automobile repair within the next few years. At times the guidance you always listen to never investing in a new vehicle just doesnt apply to each situation. Not long ago I actually any chance to be lent and push one of the least expensive cars available today. Sure, it was laughingly small but all 4 of us older people fit in the car and it was a surprisingly brisk ride. Actually , I even took a picture of the Chevy Spark all of us borrowed as it was thus unusual.