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car trouble (again)

Discussion in 'Anything goes' started by Smallpotatoes, Mar 30, 2011.

  1. Smallpotatoes

    Smallpotatoes Well-Known Member

    Sorry about this folks.

    For the last year and a half, I've been driving a 2003 Dodge Neon. No real trouble for the first year. Had some transmission work and the tie rod ends replaced last fall.

    Two weeks ago, I had to have the rack and pinion replaced (that and 2 tires cost $1,040). For the last few days, it's been running kind of rough. This morning, the engine light went on. There was also a grinding noise when I stepped on the accelerator. I took it to my mechanic and he pulled the codes for the engine light. He said it had something to do with the transmission and I might possibly need a new one.

    I can't afford a new transmission. I also still have 2 1/2 years left on the car's loan.
    If the cost of the repairs is prohibitive, might I have any options, any way to get out of the loan and get another car?
     
  2. MacDaddy

    MacDaddy Active Member

    Was the mechanic that checked it out this time the same one that did the transmission work last fall?
     
  3. Smallpotatoes

    Smallpotatoes Well-Known Member

    Yes. I'm also looking into seeing if this is covered by my warranty.
     
  4. imjustagirl

    imjustagirl Active Member

    Wait a second...your car is nearly 9 years old, and you still have 2.5 years left on the loan?

    How in the fuck does that even happen?
     
  5. secretariat

    secretariat Active Member

    I think your transmission is pissed you won't cover seventh-grade girls field hockey.
     
  6. imjustagirl

    imjustagirl Active Member

    Seriously. According to Kelly Blue Book's website, a 2003 Neon, the highest level one, with the standard stuff, in good condition and with 110,000 miles, is worth $2K. Being KIND let's say that's worth $3K when you bought it.

    How do you finance $3K over 4 years?
     
  7. Smallpotatoes

    Smallpotatoes Well-Known Member

    I'm paying 192 a month. Put 500 down. I don't have the rate handy.
    The car cost 4,000 or so when I bought it. It had 43,000 miles on it.
    The carfax was OK.
    Looking back, I guess I made a mistake.
     
  8. BTExpress

    BTExpress Well-Known Member

    Years are meaningless. Miles are everything.

    I bought a 9-year-old car in 2009. It had 46,000 miles on it. That's only 2 years old in BTExpress car years.
     
  9. imjustagirl

    imjustagirl Active Member

    I get that, BTE. I bought a 7-year-old car about 18 months ago with only 46,000 miles on it. I've put another 25K on it in 18 months.

    It just didn't make sense for a car with that many problems after 1.5 years to have had a four-year finance deal. I figured it was higher in miles for the problems he was having.
     
  10. Walter_Sobchak

    Walter_Sobchak Active Member

    I'm still trying to wrap my head around this one. So you financed $3,500 over 4 years. But with 48 payments of $192, that's $9,216.
    Please tell me there's something I'm missing.
     
  11. Smallpotatoes

    Smallpotatoes Well-Known Member

    I don't have the paperwork with me now, but I guess that's it.
     
  12. imjustagirl

    imjustagirl Active Member

    That can't be right, smallp. My car was $7,500 financed, and I'm paying $264 a month for 36 months. That's like 9,600, and I got like 16 percent interest because my credit was shit.

    I don't think they approve much higher than that. Are you sure it's not just a three-year loan?
     
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