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Howdy broham,
You will most likely get several replies for guidance on the current problem with your car. Pay heed to the advice, there are many people here who have been right where you are. In the end, only you can decide what is the correct course for you.
Should I stick it out with the 240 or go find an affordable preowned certified car where I can just make financed low monthly payments? This question if frequently asked on the Brickboard. My two cents worth on the subject:
Again, only you can decide what is best for you. But, may I suggest paying yourself the low monthly payments?
It comes down to paying yourself $200/mo to keep the Volvo running or paying the bank 20% down, $200/mo, and an insurance company for full coverage to keep the Certified Pre-owned car on the road. And, after 30 days in most places, if it breaks you still have to come up with the repair money.
If you choose to pay yourself you get:
An education. You most certainly will learn the ins and outs of the internal combustion engine, engine controls, emissions, braking systems, driveline vibration analysis, steering, suspension, vehicle dynamics, heat and AC, etc.
A collection of tools and parts. This may or may not be an advantage. If you live in a small apartment, it can get crowded. ;-)
A new skill set. You can impress the easily impressed with your ability to do just about anything necessary to keep your car rolling. McGiver has nothing on an experienced RWD Volvo owner.
Wealthy. Well, less poor. Despite all advertising to the contrary, a car is not an investment. It is a major expense.
If you can do all your travel on foot, bicycle, bus, train, taxi, boats, and planes, you don't even need the expense. But, if, like most of us, you must have motorized personal transport, the less expense the better, right? Take that 20% down, $200/mo, and the difference in full coverage and liability insurance and pay yourself with it. Make yourself a payment book if you must have an incentive. Some months the Volvo will cost nothing to repair or maintain. Yippy! Some months it will wipe out your account. Oh well, so it goes.
Three or four years down the road, you will need another Certified Pre-owned and the payments start all over again. If you've been putting that same money into the Volvo, three or four years down the road the Volvo will be ready for another three or four years.
One thing is for sure, if you give your money to the bank, it is gone.
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Mr. Shannon DeWolfe -- I've taken to using mister because my name misleads folks on the WWW. I am a 53 year old fat man. ;-)
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