My wife and I have the opportunity to purchase a 2005 Honda Accord EX for trade-in value. A co-worker is purchasing a new car and will sell me his Honda for what the dealer will give as a trade-in.
Our "family" car is a 1998 Honda Accord with 140,000 miles on it. We have a 14 year old son who will be driving in 2 years. Our original game plan was to keep our current Honda as the family car until our son was driving. Then we would give that car to him and then purchase a good "used" car with CASH.
If I pull the trigger on the 2005 Accord and am able to sell our 1998 in the next few months, I'll have a loan around $3,000. I hate borrowing money it makes me crazy.
Decision time. . . What would you do?
Thursday, June 14, 2007
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1 comment:
I would not borrow money. I would save up the cash and then make the purchase. Debt was not my friend and since me and debt broke it off five years ago, I have never regretted living life without debt!
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