Hey guys Im thinking of buying a new car because my 2007 Toyota Camry just gave out and needs a new motor (dealership quoted me 4500 for a used engine with 150k miles) plus I need a new set of keys which runs about 500 so the total repair is about 5000. My peers think I should replace the engine and save on the car payment but I only payed 3500 for the car got it around 130k miles and it lasted me until 197k so I don’t think putting 5k into a 14 year old car is a good idea. With that being said I’m looking at gen 2 or 3 Honda fits I really want a manual transmission but my options are limited at the moment inventory wise and money wise. I can afford to put about 3000 down but I have never financed before and recently due to the pandemic my credit has taken a his to about 550 so I know interest is gonna be killer. Anyways I stumbled across a 2013 sport in blue raspberry with 47k for about 10k probably 12k out the door at my local dealership. Sounds pretty decent to me but not a manual feel like it won’t be the same without the manual. I also found a 2018 ex with about 21k miles that is cpo going for $17750 more like 20k out the door that has everything I want in it. It’s manual it’s the trim I want and it comes with cpo warenty. I door dash and rideshare for a living right now I’m looking for something reliable and I do plan to keep for a long time maybe even learning how to work on cars a lil bit too to save on repairs but I’m looking at a hefty payment of high 300 low 400 for the 2018 ex. Would it be worth my time to go newer or older. I have also considered if I did go newer to maybe refinance in a year or so once my credit jumps back up and I can save more money. Tell me what you guys think. I’m 22 I have an apartment with roommates rent is about 550 total bills come out to about 1500 a month and I bring in around 3k a month. Would this be a smart move thanks for the help

 

I will chime in to only to address the manual vs auto debate. If you have any inclination towards a manual, then go for it. I recently bought a 2018 Sport model Fit in orchard white. I am absolutely smitten with the car for many reasons. But, I lay awake at night wishing that I'd gotten a manual transmission. The Fit is a slightly underpowered fun to drive car. But the automatic sucks some of the magic from the car.

 

Have you tried to get an opinion on how much to fix from someone besides a dealer? Dealerships charge a lot for repairs. Look up a reputable repair shop on AAA or yelp and take it there for another opinion. You can also get a key for less at these repair shops as well.

If you're worried about money and fixing the Camry is out - I would recommend you buy the oldest and most reliable car that will get the job done for you. Dealers mark up cars a lot, so buying from a 3rd party like on Craigslist is going to give you the best deal. Look for a car that you can buy for $3,000 outright (don't recommend financing) and before buying it, take it to a reliable mechanic for a used car inspection - usually about $100. Then, save the money you would have been making in payments in a car repairs fund so you're ready for any repairs that come up on an older car.

 

recommend you get another quote from an independent repair shop vs only relying on the dealer before thinking about buying another car. really surprised your toyota motor gave out - how many miles was on it?