Next step down in the economy: monthly rent a car

I think if I included insurance, my car payment and gas for a whole month, I wouldn't pay $500 for my car.

 

Got a new car in 2003 when I got a new job. The one i had gotten right after college finally died (literall) and I had to get a new one. Had a four-year loan with payment of under $200 per month. Things went fine for the first couple of years. Then I lost my job with about 20 months still to pay.

It was really hard. Scrapped by. Missed several months of payments. Got loan extensions, etc. Finally got the thing paid off last year, almost a year later than originally planned.

In this economy, I wouldn't be buying a car even if I had a job, unless I could afford to pay cash up front. Cause if you lose a job six months from now,then what? Then you're stuck with a payment and no way to pay it.

 

I lost a job when I was paying for a car and just got another job. Not in the same field, but it's a job.

 

Ports are really struggling, so much so that the head of the stevedore union is doing everything he can to get his boys work. Still, some of them are slipping, cracking into containers, selling things to the Greeks. A camera here or there. Nothing big. Maybe some chemicals. Just stop flashing all the money, and be cool. Have a shot and a beer on ol' uncle Frank.

 

I'm two years into a six-year loan for my 2007 Corolla and my monthly payment (while a bit steep) is still two hundred dollars cheaper than that.

I'm just hoping that the credit market is a tad better at this point next year. Once I get the money I owe down to a reasonable amount, I'm going to see if I can get a loan from a local bank to pay it off and just pay the bank every month at a lower interest rate.

 

What about a car? I know a great place you can steal a car and not get caught.

 

Hyundai has a plan that addresses that, if the commercials I vaguely pay attention to are to be believed

 

That's not actually a new program. Toyota's rented cars forever, but it's usually geared toward people who need service. Usually it's $45 a day for a Camry, $35 for a Corolla.

 

I saw that. You get to return the car. Same as a repo, for practical purposes. Either way, you're hosed.

And people bleepin wonder why the auto industry is laying off tens of thousands.

 

If you're absolutely looking to punish the vehicle (coast to coast trip, etc.),
and we're talking unlimited miles, could be a good deal.

Otherwise, I can envision damn few scenarios this would be worthwhile.

 

Perfect for someone who leases a car and doesn't want to get nailed on over mileage charges the last month.

 

i think this offer has total appeal for someone who lives in a big city—in New York renting costs $100 a day—and might want a car for a couple months, especially in the summer.