I am not doing the clunker program, but I am starting to think about my next car. I was wondering what the folks here did when the time comes to get a different vehicle. Meaning, do you buy new or used? Pay cash or finance? Lease or own?
I'm also trying to work out what a reasonable amount is for me to spend on a new car. I currently save 20-25% of my income and drive a 2001 Jetta. I feel like it's time for me to get something "nice" but not frivolous and very expensive. I've been settling in on a figure of about 18-22k, and finding the best value in that range.
I'm under the impression that a used car with low miles is my best bet. I'm also thinking I should get a car that retains it's value so it is still worth something when it comes time to get rid of it. I'm looking at cars like a 2006 Acura TL, Mercedes C class or BMW 3 series.
Finally, I feel the need to acknowledge that my 2001 Jetta only has 57k miles on it, and runs fine. I put maybe 8k a year on my cars. This trade up is much more want than "need".
Any words of wisdom?
I'm also trying to work out what a reasonable amount is for me to spend on a new car. I currently save 20-25% of my income and drive a 2001 Jetta. I feel like it's time for me to get something "nice" but not frivolous and very expensive. I've been settling in on a figure of about 18-22k, and finding the best value in that range.
I'm under the impression that a used car with low miles is my best bet. I'm also thinking I should get a car that retains it's value so it is still worth something when it comes time to get rid of it. I'm looking at cars like a 2006 Acura TL, Mercedes C class or BMW 3 series.
Finally, I feel the need to acknowledge that my 2001 Jetta only has 57k miles on it, and runs fine. I put maybe 8k a year on my cars. This trade up is much more want than "need".
Any words of wisdom?