The $4,000 question

[JayFarrar]

So the GF's car, a 2008 Saturn, is having some mechanical issues and she took it in The garage called this morning.

It will be $4,100 to replace the transmission as it is going out. It seems that in Saturns, the car's computer module is housed in the transmission and that adds some bucks to the job.

Anyway, the mechanic seems to think that the car might have some other issues that will need repair eventually but wasn't clear, or at least she didn't give exact details.

So, here's the question, spend $4,100 to get the car fixed or spend that money on a down payment and then be on the hook for car payments.

Go.

 

[TheSportsPredictor]

Whatever smallpotatoes says, go with.

 

[cjericho]

New car, no brainer. They haven't made Saturns in how many years. Either put that down toward a new car or get a used car that doesn't need a new transmission. Not sure where you are, but in NY, NJ or PA if you have good credit you should get a very good rate now.

 

[The Big Ragu]

How much is a 2008 Saturn worth if it is in OK shape? i.e. -- what is the book value of that car. Without knowing the details of the car, the mileage, etc., I'd bet that the resale on an old Saturn isn't a whole lot more than the $4,100 you are considering putting into it. Add on the other stuff that you say is likely to start making it into a money pit soon. ... and if she can afford it, she is probably best off selling the Saturn for whatever she can get for it and putting the money toward a different ride.

 

[Riptide]

Junk the Saturn.


And buy a TESLA!!!!!

 

[trifectarich]

If I put four grand into repairs, I'd be deathly afraid with every mile that another expensive problem is coming around the next corner. I don't venture in used car dealings, but I'd guess there are newer, reliable vehicles that'll be easier on the wallet than a brand new '15 or or 16.

 

[MisterCreosote]

I can pretty much guarantee a car from 2008 is worth less than $4,100, especially if it needs that much work.

 

[TheSportsPredictor]

NADA guide doesn't list any 2008 Saturn as worth more than $4,100, except the Sky 4-cylinder. Even that is $7,650 at the max. Many of the others not even valued over $4k.

So you could buy a used 2008 Saturn for less than it would cost to fix this one.

 

[murphyc]

Jay, is this a Saturn Ion we're talking about? If so, I doubt you could sell one for $4,100 in good condition. In other words, sell it and get what you can for it. For $4,100 you can be on your way to a decent used car.
That sounds insanely high for a transmission. I once had a '93 Saturn SL1 with the common Reverse Slam problem. Yes, the problem was so common with automatic transmissions on older Saturns it had its own name. You put the car in reverse and nothing happens. You tap the gas and it slams into reverse. That was $1,000 to fix. The next week I discovered the car was burning oil due to bad rings (another common older Saturn problem, and a bit ironic considering the name).
When the Ion came out, it created a huge and ugly division among Saturn fans.

 

[JC]

Keep the 4100 and buy new at 0% interest.

 

[cjericho]

Depending where you are, you need good credit for 0%.

 

[JayFarrar]

She has an 850 plus credit score. Her current car, it is an Aura, came with zero percent financing.

The Kelley Blue Book says car's value is between $3,000 to $4,000.

I personally think go find a car, and buy it this weekend. But she makes decisions at a glacial pace. We've only been dating 7 and half years, living together for nearly six years, and only this past weekend did it occur to her that marriage might be the end result of our relationship.

 

[justgladtobehere]

So why does she need to replace the Saturn if she has another car?

 

[The Big Ragu]

She has an 850 plus credit score. Her current car, it is an Aura, came with zero percent financing.

The Kelley Blue Book says car's value is between $3,000 to $4,000.

I personally think go find a car, and buy it this weekend. But she makes decisions at a glacial pace. We've only been dating 7 and half years, living together for nearly six years, and only this past weekend did it occur to her that marriage might be the end result of our relationship.

1) No one has an 850 plus credit score. Just sayin'. Fico scores are measured up to 850. And the 850 may not actually be achievable.

2) Please don't let her drop $4,100 on a car that isn't worth that much in drivable condition. I am getting agita just thinking about it.

 

[JohnHammond]

If you can get zero percent interest, take it.

 

[JayFarrar]

All I know is when she went to get the mortgage, the loan officer told her that it was highest credit score he had seen and that he didn't think it was possible to be that high and he ran it again.

I want to say it was 853 but, regardless, it was in the 800s, and I think it would be insane to spend that much on repairs when compared to the car's value.

But I can't tell her that. It has to come from some random person before she'll believe.

Like, when her check engine light came on, I asked if her if it was flashing, and she asked why and I said it was important and she said okay and then said no it wasn't flashing but she didn't think that was a big deal.

A coworker on Monday asked her the same thing and she said no and the coworker said that was great news for it not to be flashing and now the fact that the light wasn't flashing is the most important bit of car news she knows.

Anyway, we're going to look at a dealership tonight.

I'm shocked she's moving this fast.

 

[JohnHammond]

At least she knows she has dealers by the balls if she plays the credit score card right.

 

[ChrisLong]

Turn her in and invest the 4 grand in a new girlfriend.

 

[Chef2]

If you're getting 0% interest, don't put any money down, and don't trade anything in.
While you're at it....if you can swing the payment, put and extended warranty....gap coverage.....maintenance plan.......road hazard tire/wheel......the whole shpeel.......remember........it's all at 0% interest........you're using their money.......provided it fits into your payment range.

 

[Chef2]

. We've only been dating 7 and half years, living together for nearly six years.