So, here is my problem and I need your help. It’s about my car… or maybee soon-to-be ex-car.
I use my car a lot, about 120km every day and I need it to get to work and back home.
My current car is a 2001 VW Polo with 212.000km driven. I bought this car almost 7 years ago. I love it and it still drives me around, but it starts to have issues, ie not starting properly after a rainy night.
A friend of my parents, B, has a 2006 VW Polo (32.000km driven) to sell. He wants 8.800€, which is ok as the car cost 14.000€ two years ago (at least that is, what I researched). My Mum basically talked me into calling this guy, because I did not see the point in buying a new one, when mine is still doing ok. But she said I should at least call him and so I did. It all ended with H, my parents and me driving to B’s house, to have a look at the car. I actually thought “Well, I will be polite, look at it and tell him, that I do not have 8.800€ and that I am sorry that I won’t buy the car”.
So, I had a look at the car (looks great, 5 doors, silver, all electric stuff a car could have, incl GPS (good for me, who gets lost EVERYWHERE)) and drove a few hundred meters without even thinking to buy the damn thing.
My stepdad drove the car too and loved it. As he is the business man of our lovely family, he asked B about the price and all. And that’s where my misery started. B actually offered me an interesting-free loan if I would buy the car off of him. I was puzzled. All my oh so clever “Sorry, I actually do not have the money and don’t wanna pay a whole lotta interest to a bank” lines had been torn apart with that offer. He even offered me to name the monthly payment myself.
I mean, it’s a great offer, the car itself is worth more than I would pay. I would have to buy a new car in less than 2 years anyway, so I might as well spare me some nerves if my car breaks down. No one will give me an interesting free loan in two years (who does that anyways???) and there is no way, that I safe enough to get a good new car in that time space, either (yeah, I know, I could’ve started saving earlier, MUM).
My brother would buy my current car for 700€ or so… so that would be taken care of.
What would you do? Buy that car and pay off 130€ monthly plus directly giving him my tax return, when I receive it and that kind of stuff, so that I will be done in a three years or something? Or just keep on driving my current car until it falls apart? Also the likliness that my current car will have some more issues, that will cost me a lot of money to repair, is a lot higher than the new cars…
I am lost, help me…
UPDATE: I won’t buy the car. This special car-range of VW Polo has a huge history of breaking after 50.000km. With a motor to be replaced. Can’t afford that. I am sad…
7 Comments
7, April 2008 at 12:57 pm
tricky…I dont know hun! Is he reliable? Do you think the car is in good shape? Almost sounds to good to be true… if you can trust him, go ahead! Three years is a long time though, but maybe better than paying some bank back?? Its very tempting….I would go with a newer car, if I could afford it, cause I have an old car myself. LOL. good luck hun!!
7, April 2008 at 1:02 pm
He is reliable, he is my stepdad’s friend (and has been for 20 years). My Mum figures, he is so generous, because he has been given an interest-free loan from some stranger when he started his business 10 years ago and wants go give something back.
The car is in good shape, but my stepdad would want his friend to pay for another inspection before I buy the car… so that should not be a problem…
It is indeed tempting, yeah. Gosh, live is so complicated sometimes.
BTW: can anyone read my protected entry from sunday?
7, April 2008 at 5:03 pm
can’t read your protected entry, don’t see it on the page.
with the car: i would do it. It just would be for three years (right?) to pay that guy – interest free! It will be waay more expensive to get it over a bank or a dealer.
And it seems like you need to buy a car pretty soon anyways. You will see: it will probably have better gas milage than your old one, and you probably will be saver driving it.
Now or in two years? Now, when you can afford to pay 130 Euros/month. In two years if you can’t afford it. Simple answer.
7, April 2008 at 8:18 pm
interesting free? i thought that offer was pretty interesting! (sorry, couldnt resist that joke, i assume you meant interest-free)
zum glueck hast du das noch rechtzeitig rausgefunden dass dieses auto oft kaputt geht. ich kann deinen protected entry uebrigens auch nicht lesen.
8, April 2008 at 2:28 am
@steffi: smartass
9, April 2008 at 2:35 am
Ah bummer! But maybe you can put aside those 133Euros each month until your car dies and then you have a bit more to put down on a new one.
Chin up!
9, April 2008 at 1:49 pm
since you already updated and told me yesterday you don’t need to worry anymore, i guess there will come another time with a good offer. don’t worry sweets.