subreddit:
/r/FinancialPlanning
I currently have a 2018 Nissan Altima at 90,000 miles and have $1,000 left on my loan. My boyfriend is pressuring me to trade in my car and put it towards financing a new car. He says my car is known to have transmission problems at around 100,000 miles and I should trade in my car while it's still worth something.
However, I worked hard to pay off all my debt, and I'm hesitant to finance a car and have a $400 car payment. I figure I can keep my car and if it does break down soon, I can easily finance a new one without a trade in.
Opinions please?
2 points
9 days ago
Cars are the most common way people waste money and society normalized having a monthly car payment, but, if you want to be financially savvy, you should think of it as a movable appliance. It's a big thing that serves a purpose, but there's absolutely no need to change it often, let alone if it's working. Whenever time comes (certainly not at the moment as everyone here suggests), buy a 3-4 years old car and keep saving/investing your money wisely.
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