So, my car has been sitting on the chopping block to be repoed and I was trying to catchup the payments; but different things kept happening. Finally a repo man visited me at my job to ask where the car is. At first I told him it was at this shop I used to work at in Clinton, MD. Then, I gave it some thought and caught him at his tow truck and told him to give me a day and I will tell him where it is; knowing the car was at my job the whole time. During the time it was at my job I had ripped the Manual trans and everything I had to move to get to it. Well the next day I came into work the car was gone, yet the parts and transmission still remained. So, I washed my hands of the situation and will be purchasing a Audi 01 (Exotic) and saving money for my next Max. Which will be be a 2002 Nissan Maxima; until then I have the photos of my ole max. We he rest in peace in the hands of another owner.

 

I'm thoroughly confused about what happened and the condition of the car.

 

So, you couldn't afford to make payments on a 10 yr old car, yet, you plan on getting another one, if not newer?

 

But it is an exotic

 

Only b/c it breaks down every 10k miles even new from the factory

I constantly hear, "I bought an audi....I'll never buy one again."

What happened to foreign cars being built like tanks in the 80s and early 90s. Damn corrupt politicians. Inflation has even ruined cars.

 

That. And Volkswagen.

 

you cant pay for a 5th gen and you want a Audi?

get a low mileage early 90's Camry for a few years til you get back on your feet

 

Wow, good luck with washing your hands of the situation and just moving on like nothing happened. Is that really the mindset you have? Good luck getting that Audi, especially if you're going to try to finance it. Somehow I don't think that's gonna happen.

I know I'm coming off harsh, but people who don't know what financial responsibility is drive me up the wall. This all-too-common attitude is one of the reasons this country is in such a financial crisis.

Word of advice to everyone out there, pay cash for your cars. Unless it's a house, if you can't afford to pay for it in cash, you probably shouldn't be buying it. Plus it makes things exponentially easier when you get your car and the title at the same time.

 

this, i pay cash for my cars. makes it alot easier. i used to blow through my money but i kinda grew up and started saving, now i always keep $1500-$2000 stashed for my cars breaking down every 2 weeks

unless its something $10k+ then its hard to pay cash

 

True, but in my opinion buying a car that's getting up there in price is stupid, at least for the average consumer anyway. If you're trying to maintain a reasonable budget in your life, financing a vehicle shouldn't be part of that.

I know some people will disagree, but that's just my opinion. The benefits of buying a new car or a newer expensive used car surpass the costs for many people out there and I can respect that.

 

yeah i wont own anything newer/that price, i think i got the 3rd gen at 380,000km and it lasted to 429,000km and i paid $2k for it, worst i had to do was valve cover gaskets

plus pre mid-90's cars are waaaaaaay easier to work on

 

That's fine and dandy if I got a spare 20k-30k laying around the house. I can't afford to drop that kind of cash upfront, but I can afford a monthly payment for that 20k-30k car.

 

I agree mostly but I certainly don't think cash should be the only means (certainly wasn't for me back in the day)
I think even if you don't have it in cash exercising some financial restraint and reasoning should still yield good results.

BUT, with that said...if you can, cash IS always the best option (therein lies where I agree ).

 

I think the point he was making is that if you don't have the 20k-30k kicking around the house maybe it's not a good time to purchase a 20k-30k vehicle. Buy what you can afford not what credit will allow you, and you'll find yourself to have greater financial peace.

 

I purchase on credit all the time and my credit is excellent. If the point is to not blow your $$ capabilities on a vehicle, then I'm with that. If not...then I don't get it.

 

wow....

 

Bad credit? No credit? No problem!! Lol

 

 

 

+1 on everything but the cash thing. Although, the point is excellent and overall seems to be minimized.
Really, what do you guys think is going to happen after a car has been repoed? It gets resold and if it goes for less than what is owed, you are liable for the difference PLUS all fees associated with the auction, repossession, and any other fees.
About the only way the OP is going to get ANY other car is likely going to be cash. No one is going to loan after a repo unless you are willing to pay huge interest. But again, that just goes back to that issue about financial responsibility doesn't it?
Good luck OP.

 

I try to pay cash for whatever I can. I paid cash for the Maxima that I currently have. I accrued alot of credit card debt and it took me about 4 years of working two jobs and having no life to do it.

I've never understood why people are driven to live beyond their means, and spend more than they make. I know a few people that had really good paying jobs and careers that lost their jobs and are now in such a fubar situation.

 

when we are talking about $2000 - $28,000 buying cash is the thing to do. However, when I was working at the dealership we took a 02 500CL in on trade that the guy bought cash for 138k. Still had the window sticker... we gave him 7. If you buy luxury cars the only way to go about is leasing them, they lose 60% of value within 3 years.

 

You don't necessarily need to pay cash for a Maxima. Mine was $8k....at the time I had $4k and got a loan for the other $4k........paid the loan off in 4 months.....thats the way to go!!But if you talking $28k for a car...you need a loan....cmon now...people not walking around with $28k in the bank. If you had $28k in the bank you could buy a USED Maxima and use the left over money to do a SERIOUS engine build or turbo. Who on her walks around with $28k in the bank.....thats a home down payment, assuming you don't have one already...I could think of better ways to spend $28k. I just don't understand gettin an 02 max repoed then getting a NEWER car...Audi???? Don't try to get a loan...because once they see a REPO on your credit...forget it!!

 

You have a job, you should be able to make payments and not blow it all on mods. I own two cars, granted one is now paid off, I still know what I have to have at the end of the month.

Not to be harsh, but I wouldn't bring my car for you to work on (like your sig says) if you can't even keep your own vehicle.

 

this thread is full of lulz!!!!!!!!

 

Maxima. Your hard on this guy. When my wife got laid off we had savings for about 6 months of bills and expenses. Our cars and house were the biggest part of those exp.$$$$. As is with most people. By the time we got back on our feet it was about 7 months and we spent almost every penny in savings. I had about 500 in the bank and getting back on our feet was hell. Still trying, worst part is, we are still working on it. I lost 13 grand a year as salary cuts kept on going. This all after 7 months after wife got laid off. And the hits keep on coming. To say the least I had to give my charger back and the wife's car aswell. 1000 a month in car payment and another 177 a month in car ins. Plus fuel. 1500 a month just in car expenses. Never had a repo until about a year ago. Wow our credit took a huge hit, Handing the cars in was and is the same as a repo. The nations Econ is fubared with not much relief in site. We went out and bought 2 used cars. She drives a ford exploder limited and I drive the 5.5 gen i35. BOth cars have over 100k on them. Never in my life did I expect that my wife would ever drive a car with 100 plus k. I always bought new. I don't car about me so much, but my wife, she means the world to me. I'm lucky. She's is really down to earth and not high maint. Guess what I'm saying is people run in to bad times. P.s. I got rid of the cars because we live in our house. The cars were transportation. They were nice.

 

Sorry to hear about your repo man. My friend had audi. All I can say is really bad choice. That model year still used timing belt. They did not switch to chain until 03 04. Re think your choice. I don't claim to know what's in your account or how much you make. If you had a job how did you get so far behind. For a repo you had to of been like 3 months behind. What happened? I feel for you.

 

DAYUM!!! You must have been making ALOT of money to have $1000mth in only car payments......mny rent is $1100....can't imagine paying no where near that money per month for no car...that is why I always buy used cars.....not worth the money...and they decrease in value every year while you making those fat $1000/mth payments.......AND $1500 month on top of that with gas and all!!! I work with a guy that bought a $290k home he put 20% down and have a house payment of $1500/mth including taxes. Thats just wayy too much for cars.....unless you making crazy money like that....

 

People mistakenly project their own values into threads like this, offering sympathy where none is warranted. Go look at his sig, where he advertises "excellent auto service". Follow the link to this claim:Now ask yourself how much sympathy is appropriate for someone who carelessly defaults on a small car loan, and then claims ethical superiority in business matters.

 

You do bring up a good point, and your logic is dead on with this. I'm sure there's alot to this story that the OP is leaving out.

 

 

To each their own...biggest thing is don't live outside of your means with anything. If you find yourself scraping by no each paycheck then you need to evaluate where you are and what choices you've made to get there.

Cars are basically a big black hole in your wallet. The only value they add is the practicality of getting from A to B. If you have one for "status" it isn't adding value unless you are in a high profile position.

I can say when I first got my max I was into modding it. Now, 10 plus years later with 220,000 miles on it I'm into de-modding it and keeping it running. Mods were the biggest waste of money...ugh. I wish I had that to do over again...

 

OP's point:
Lost the Maxima, getting another car....see ya and bye MAXIMA.ORG!!

Well, okay then Blaque Knight.....see ya!

 

Yes, paying cash is obviously the best way to go, but if you ARE going to finance, you need to put 20% down, that way if times get bad and you can't make your payments you can at least sell the car for what you owe and your credit won't be screwed by a repo.

 

My Max has 165,000 miles on it, and mods have been affordable and mild. I've only done a Berk intake with Apexi filter, grounding kit, NWP torque link, and switched out the worn out shift **** with a weighted one from Blox. I thought about doing more, but with it's age and mileage, I'm just going to keep up on the maintenance on it. I'm still on the fence about doing any suspension work to it, however I would like to upgrade the brakes. Nothing expensive like Brembo's or anything like that though.

 

I like dis Waxima feller.

Even though I haz BMW and car payments. But my payments are dirt cheap and I could have bought the car in cash when I got it.

No offense, but somehow I think she'll live. Your situation is unfortunate, but it could always be much worse. That statement just struck me as odd considering what the rest of the country is facing right now.

Eh. If he's trying to make money, what do you expect him to say? If all handyman types had to air their financial hardships, I think he'd be in good company. Maybe he does good work and is an idiot with managing his money.

 

My personal minimum for financing is at LEAST half down. These people who put $0 down just because the dealer says they can are not very bright.

 

You're totally missing the point. He's saying that other mechanics are crooks, but it's OK to be a liar and a deadbeat for his personal finances.

That kind of cognitive dissonance is something only an idiot or a Conservative can be proud of.

 

DAM....you guys are hardcore. You never know what happened with the dude's situation. there might be more to the story than he is saying.....honestly I was a bit confused on how he wrote it....but whatever. The economy IS garbage....AND if he is a Mechanic some people havign tough times with layoofs, foreclosures, no jobs, etc.......so maybe the man went out of business for lack of customers. The economy is really a rippling affect on people......one BIG corporations lay off 10k people, then those 10k people have their cars repoed, homes forclosed, then the businesses that those people USED to buy from have no business....so they LAY OFF people as well....and the spiral downhill continues.....more foreclosures, repoes......etc.....It's really sad.

 

No, I understand what you're saying, and I think he isn't very rational for letting this happen, but you can't blame him for trying. There's an abundance of hypocrisy there, but it's not like the man's a blatant con artist from what we can tell. I wouldn't expect to hear anything much different from a home mechanic trying to sell himself. Seemed pretty standard to me.