God I have a love/hate relationship with my Fit. I've had it since I bought it new in 08. I bought it when I was living with my mom, then she died and I had to move out. Now my Fit and it's car payment is the bane of my existance.

On one hand, it's never stranded me and it gets me through the snow as well as any SUV.

On the other hand, I want to buy a house and just can't afford both my payment + full coverage insurance and a house note on top of it.

Ugh sometimes I wish someone would steal my Fit or a tree would fall on it. But it's been good to me. It's got high miles (72xxx) and I want to do some stuff to my CRX (fix the suspension) since I drive it to work to save miles off the Fit.

And now it's tax time and I don't know if I should fix my Fit and sell it (needs TPMS sensor and calibration, windshield is cracked and the driver door lock won't open from the outside).

OR

Fix the suspension and rust on my CRX

Fitfreakers, offer an old brotha that's lost his way some words of encouragement. What to do?



Here's looking at you, kid.

 

It is all up to the monthly payment IMHO. If you feel it is not worth the monthly nut, sell it and take care of the crx. Rust & suspension will cost less then a car payment plus full coverage for the next couple of years. Especially if the crx is your dd, I would unload the Fit and buy the house, you can get another Fit in the future when you are settled in. Sorry about your Mom.

 

Thanks, it's been two years now. Happened not more than 11 months after buying the car. I've refinanced it once already.

 

if money is the concern right now, i don't know how much your car payment is, but i'd say downgrade to liability insurance and sell the crx?

your fit's been reliable, and the most pressing issue with it is the door lock, which isn't that pressing an issue really. you can check your tire pressure manually, and the cracked windshield isn't going to leave your car.

the crx is old and it needs suspension work and rust rescue? that's more money+work+time. you'll need parts, an alignment, paint, and something else could happen not far down the road since it's already ~20 yrs old.

that's what i think

edit: oh nm forgot you need the full coverage insurance...i duno then, this is a toughie

 

When I say the CRX needs suspension, I say it because the previous owner put eBay coils and lowering springs that are God awful.

 

Sorry about your mom bro

 

I personally would advise you to stay with the fit. In the long run this car will save you money and be more reliable then your 20 year old CRX. You are going to save a lot on repairs even if you do the work yourself.

 

If you are young and healthy I would suggest that you consider getting a part time job, do without anything that you spend money on that isn't an absolute necessity and never leave your house with a credit card unless you can pay it off before you are charged interest.. Do every thing you can to lower your utility, phone, Internet server, cable or satellite service and food cost... Look for the best prices when you shop for groceries or any other necessary items.. Don't impulsively buy a coke or snack when buying gas or when at the checkout counter at auto, home supply,dollar stores or whatever... Cook and eat at home and treat yourself to a good meal at a place that accepts coupons that you have acquired on line or out of a local newspaper as a treat to yourself because you are being successful.. Get a weekend subscription to a newspaper, they are the ones with the most coupons, job listings and advertised sales at stores...By increasing the amount that you pay on things you owe on every month and have it applied to the interest owed you will lower the total owed and be able to be debt free in a much shorter time.

 

This is real easy, get rid of the CRX because the Fit is newer and you bought it brand new, so you know everything about it. The miles aren't really a problem, its a Honda afterall. Fixing rust and suspension on a second car is more of a luxury IMO, I mean, its a second car, right.

Now, if your payment is way too high on the other hand and you can get out of it pretty easily, well, I guess it depends on the state of tune of the CRX, who cares about rust, reliabilty is what get's you around

Good luck to you and maybe trade your free time in for a 2nd job for a while, everyone is doing what they've gotta do nowadays.

 

A young person who wants to buy a house and can't because of finances but yet owns two cars has his priorities out of whack. I assume you're paying for two insurance policies and the licensing of two cars in addition to any maintenance. Sell the CRX, get the Fit paid off and start saving some money to buy a house.

 

You really think he will heed this advice Wily? He should but....

I am debt free -) and old and retired. Managed all that working for 40 years.

 

Part out the CRX, and get a second job.

Very sorry about your mom.

I am in a similar situation and have been parting out toys for the last 3 years.

So basically what Texas Coyote said.

 

https://www.fitfreak.net/forums/gene...re-before.html

It's been six months... you still haven't decided?

While, I had the advantage of putting a huge down payment, I did exactly what I set out to do with my loan, I overpaid each time, I paid off my loan.

Do you really need to buy a house? A couple of years ago, when the recession hit... a family found out it was better to sell their house to get rid of their mortgage and rent an apartment. A house is fine, if you can afford it. But if you're straddling the edge, why risk it? If you default on it, it's gone, plain and simple.

 

here's something else. the house note isn't just the loan. you'll owe more than you think when you own your house than you typically think about. lawn work, repairs, taxes (uuugh), association fees, insurance, taxes (yea it's worth mentioning 2x)

i am eventually going to own my home and i love it but again i plan on retiring here in 20-30 years and i pay on principal every month b/c i put special things off to the side and save up as opposed to blowing it when i want.

i honestly would heed TC's advice and make sure you have no debt outstanding until you are ready to go and then save up, save up some more, and then when you are 100% committed...then get the house.

but yea...scavenging/thrifting FTW!