Decisions concerning my car
I have to decide to keep or get rid of my car. I owe about $2800 which would take me 9 months to pay off. I let the insurance laps because I couldn't afford it and I have not been driving my car. I haven't been driving my car because I need new break pads. The heat is also broken, but I believe this is just the fan, I need to have 1 tire replaced. The car also needs to pass inspection and I should have the 60,000 check done which would reveal more I am sure but other wise the car is running very well. The initial cost for insurance would be about $750. I have to make a decision soon because they are going to pull my registration for lack of insurance. On one hand the car is feeling like a weight around my neck and I would be happy to be rid of it. I don't need the car because I can use public transport for errands and zipcar to see my family. Matt and I use his car for most of our errands because it is large. On the other hand the car would be paid off soon and my insurance by MA standards is incredibly cheap because I have a good driving record. It would be fun to keep the car and I am attached to it.
Here are my choices as I see them now.:
Garage my car at my parent's where I could keep the car on the street and not have it towed. I am pretty sure I could afford the monthly payments and just wait until I could afford the rest of the expenses. My parents would be annoyed that I got myself into this situation and annoyed that they would have to do this but that would pass and they would definitely help me out.
I could trade the car in. I don't know if I would get $2800 for the car but it would be inexpensive for a dealer to fix. I might be willing to take about a $400 loss.
I could give the car to my brother who needs a new car. He would just take out a new loan to pay off mine. I would be happy to help my brother out. I would be sad when I saw my car though because I am attached to it.
I could leave it on the street in Cambridge and hope that nobody notices. I would have to be careful to move the car for street cleaning. This means that I would also have to at least have the break pads fixed and have the car inspected by early next week which is doable.
Does anyone have input/advice or new ideas???
Here are my choices as I see them now.:
Garage my car at my parent's where I could keep the car on the street and not have it towed. I am pretty sure I could afford the monthly payments and just wait until I could afford the rest of the expenses. My parents would be annoyed that I got myself into this situation and annoyed that they would have to do this but that would pass and they would definitely help me out.
I could trade the car in. I don't know if I would get $2800 for the car but it would be inexpensive for a dealer to fix. I might be willing to take about a $400 loss.
I could give the car to my brother who needs a new car. He would just take out a new loan to pay off mine. I would be happy to help my brother out. I would be sad when I saw my car though because I am attached to it.
I could leave it on the street in Cambridge and hope that nobody notices. I would have to be careful to move the car for street cleaning. This means that I would also have to at least have the break pads fixed and have the car inspected by early next week which is doable.
Does anyone have input/advice or new ideas???