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Good car in the ~$11k range for a 23 y/o female?

E

Excelsior

Lifer
My GF is currently driving a focus that was 'purchased' by her parents, that she has been paying the payments on. Unfortunately, there are still 4 years left on the 6 year loan and she has been paying $227 a month. She would prefer to have a car in her name and a better car at that.

I've been looking at various mid size sedans. She would like something a bit bigger than the focus, and smaller to midsized SUVs are contenders.

What would you guys suggest?
 
A 7 year loan on a Focus?? :laugh:

Maybe get a lightly used Rav4 or CR-V? Those were pretty much built for women.
 
Originally posted by: Black88GTA
A 7 year loan on a Focus?? :laugh:

Maybe get a lightly used Rav4 or CR-V? Those were pretty much built for women.
Click to expand...

Don't get me started. Its the most ridiculous situation I've heard of. I am so mad at her dad for doing such a crappy deal.

Yeah, the CR-V and Rav4 are on the list.

Edit: It was actually a 6 year loan. Still crap though.
 
7 year loan on a Focus? :Q Damn, that's like almost 1/2 the term of a 15 year mortgage.

She needs to get a car she can afford. Any loan longer than 40 months at greater than 0% means she's stretching and should buy a cheaper car.

My suggestion is to buy a beater in cash.
 
I got 7 year loan on my Mazda3. I could have bought it for cash, but I invested the money at much higher rate of return than my interest payment is.
 
Problem is she probably owes more on the Focus than it is worth. She might be better off just keeping it and paying it off or at least paying the loan down until she isn't upside down in it before trading it in or selling it.

Oh, and pics of the GF!!! 😀
 
Originally posted by: Excelsior
Originally posted by: Black88GTA
A 7 year loan on a Focus?? :laugh:

Maybe get a lightly used Rav4 or CR-V? Those were pretty much built for women.
Click to expand...

Don't get me started. Its the most ridiculous situation I've heard of. I am so mad at her dad for doing such a crappy deal.
Click to expand...

Mad at her dad??? You should be mad at her.
 
Originally posted by: zerocool84
Originally posted by: Excelsior
Originally posted by: Black88GTA
A 7 year loan on a Focus?? :laugh:

Maybe get a lightly used Rav4 or CR-V? Those were pretty much built for women.
Click to expand...

Don't get me started. Its the most ridiculous situation I've heard of. I am so mad at her dad for doing such a crappy deal.
Click to expand...

Mad at her dad??? You should be mad at her.
Click to expand...

She's sharing the vag with him. Cut him some slack...besides, what do you care if he's mad at her Dad? 😀
 
Originally posted by: zerocool84
Originally posted by: Excelsior
Originally posted by: Black88GTA
A 7 year loan on a Focus?? :laugh:

Maybe get a lightly used Rav4 or CR-V? Those were pretty much built for women.
Click to expand...

Don't get me started. Its the most ridiculous situation I've heard of. I am so mad at her dad for doing such a crappy deal.
Click to expand...

Mad at her dad??? You should be mad at her.
Click to expand...

Well...I say mad at her dad because he should have known better. They've kind of sheltered her. They wouldn't even let her get a car until she was 21 even though she earned the money for one on her own. She was at his mercy when they got the car and she was completely desperate to have one after 5 years of her friends driving around and her not having a car.

She needs to get a car she can afford. Any loan longer than 40 months at greater than 0% means she's stretching and should buy a cheaper car. My suggestion is to buy a beater in cash.
Click to expand...

I agree. That's why 11k is really the upper ceiling. I was thinking a 48 month loan is max for her, at under 11k.

Pontiac G6 GT. Ford Fusion.
Click to expand...

Yep, I've looked at both of those. I wish I could find a deal like scoobmaster found.

Problem is she probably owes more on the Focus than it is worth. She might be better off just keeping it and paying it off or at least paying the loan down until she isn't upside down in it before trading it in or selling it.
Click to expand...

Yeah that is definitely the problem. Except since she doesn't even have it now I figure why bother. Let her dad deal with the payments. She can 1) get a better car 2)make same or lesser payments and 3) have a car in her name/get credit for the loan.

What year focus is it?
Click to expand...

2004.
 
Damn a 6 year loan taken out in 2007 on a 2004 focus, her dad should be incarcerated. She'd be upside down on that until probably the last year.
 
do people not think what they are signing??

What do you think she is going to do with the car? I doubt that 7 year loan paid anything off yet to sell it and even break even...
 
How the eff are you paying 227/mo for 7 years on a focus??

edit:
Just ran the numbers, that was near ~$20K focus... depreciation nightmare.
 
Originally posted by: halik
How the eff are you paying 227/mo for 7 years on a focus??

edit:
Just ran the numbers, that was near ~$20K focus... depreciation nightmare.
Click to expand...
And it was a couple of years old, too, based on what he said, that's why it will be an upside down loan until the last year.

 
Originally posted by: Skoorb
Originally posted by: halik
How the eff are you paying 227/mo for 7 years on a focus??

edit:
Just ran the numbers, that was near ~$20K focus... depreciation nightmare.
Click to expand...
And it was a couple of years old, too, based on what he said, that's why it will be an upside down loan until the last year.
Click to expand...

self ownage thread of the year, seriously!! It doesn't get worse then that 😀
 
Since it is only a 2004, I'd say keep it and drive it until it dies. You might want to look into paying that loan off early - and if there are any penalties involved in doing so. Getting a new(ish) car with that kind of loan hanging over your(her) head is a BAD idea. Get it paid off, then start looking.
 
Wait until the economy starts to settle, then see if she can get it refinanced with another bank or lender. That is an unconscionable deal there, a 6-year loan on a used economy car.

That said, a well-maintained Focus should run fine for quite some time, at least she has a respectably decent vehicle as it is. It would be advisable to examine the terms and get that thing paid off as soon as possible, and then sell the car private party for maximum effect, then turn around with a decent down payment combined with the decent car credit accrued from paying off the Focus.
 
Personally, I'd bump up th e payments to pay it off much faster.
Then once its paid off, sell it if she likes and because she is used to higher payments get a car more to her liking
 
Originally posted by: Black88GTA
A 7 year loan on a Focus?? :laugh:

Maybe get a lightly used Rav4 or CR-V? Those were pretty much built for women.
Click to expand...

hey! I have an 08 CRV, and Im a guy

since my wife and I got married though, I drive her TSX and she drives the CRV :evil:
 
Originally posted by: ViviTheMage
Originally posted by: Skoorb
Originally posted by: halik
How the eff are you paying 227/mo for 7 years on a focus??

edit:
Just ran the numbers, that was near ~$20K focus... depreciation nightmare.
Click to expand...
And it was a couple of years old, too, based on what he said, that's why it will be an upside down loan until the last year.
Click to expand...

self ownage thread of the year, seriously!! It doesn't get worse then that 😀
Click to expand...

How is it self ownage thread? It isn't my loan. I didn't meet her until well after this happen.

You might want to look into paying that loan off early - and if there are any penalties involved in doing so. Getting a new(ish) car with that kind of loan hanging over your(her) head is a BAD idea. Get it paid off, then start looking.
Click to expand...

The loan isn't hanging over her head, its hanging over her fathers. He just takes the money out of her checking account to pay the monthly payments. If she got another car he would just take over the payments and it would be like her getting her first car loan. Since, as others have said, this current loan is upside down, what is the benefit for her to keep paying it? Why pay another 4 years so she can end up with a 9 year old Focus with who knows how many miles on it?

I must not have explained the situation well enough. The loan isn't hers. It is her father's. She is just giving him the money to pay the loan that is in his name. The Focus is his problem.
 
Thats even stupider
How is she building a credit rating when its not in her name?
Does she own the car? I'm guessing not , she should walk away then
 
Her fico score is actually 727. But yeah, she isn't building credit as well as she could. It is definitely dumb. So since she is able to walk away, thats why I suggested she get another car, a better one, in her name.
 
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