Not to rain on your parade…But this is exactly why I never understood buying a new car on a loan for a make/model that has the worst resale value, questionable reliability, and especially if you don’t plan on driving it into the ground (keep it for 10-15 years).
1)If you plan on keeping your car for a long time, then you should probably buy something that is fairly reliable (toyota or honda). And to save money, you should probably buy something slightly used.
2)If you plan on switching cars 2-4 years and/or insist on a brand that has crappy resale/reliability, you probably should take a lease with a low drive off cost. Buy the time your warranty is out, the lease is over, and you move on and you don’t deal with the huge depreciation.
In the worst case, you take out a loan on a car with crappy resale value and crappy reliability. On one hand, keeping it beyond the warranty => you pay for a lot of repairs. Meanwhile, in order to get out of the car, you have to pay the remaining balance, which is probably considerably much higher than the car’s value. So you’re like damned if you keep the car (repairs) and damned if you don’t (repay the loan).
1) The other options is you keep your car, suck it up, and learn how to fix it yourself.
2) Go talk to a honda/toyota dealer, they might get you into a lease/loan of a honda/toyota and help you get out of your current car, at the cost of asking you bend over on new terms of the second car. Again, you’re probably going to get screwed on the second car loan, but at least you won’t have to deal with the reliability issues of the car.
