carnoob94

Hello Community...

I currently owe 7k dollars on a 2009 nissan altima with 85,000 miles and in need of about $3-4k dollars worth of repairs for some issues with the exterior (paint,dent,etc) as well as issues internal/electrical issues with the power windows.

Anyway...I found this beautiful 2004 Lexus ES 330 with about 65,000 miles. Awesome condition inside and out (as far as I can tell) it looks like the previous owner took great care of it.

Its going for 11k....

the dealer wants to give me 3K for my car which I think its pitiful even with all the repairs that need to be done. It is a 2009 nissan altima which im sure they'll flip for 10K+.

I drove the lexus, and I am in love. '

Should I go for it..I was about to pay off my altima and getting into another loan is a bummer but i am in love with the lexus jaja and and I am afraid that the repair cost will bring me up about the cost of the lexus anyway.. and if something major goes like the timing belt or transmission then it might even put me over.

What do you guys think....Will I regret my purchase...?

LeX2K

I personally don't like the later model Nissan's at all too unreliable and cheap feeling. The Lexus is a way, way nicer car and likely much more reliable. Some people are bothered by the drive by wire throttle system but if you drove it and didn't have any issues with it then no worries.

Why not sell the Nissan privately, dealers low ball like crazy when it comes to trade-ins.

carnoob94

Thanks for the reply... As to why I don't sell privately...I still owe 7k so no title yet..plus it does have some nasty dents that I need to fix.

ES300NZ

2009 nissan altima with 85,000 miles worth 10k, but need 4k in repairs = 6k value as is.
2004 Lexus ES 330 with about 65,000 miles costs 11k, worth 8-9k?, your price after rebate/trade in is 8k.

2004 Lexus ES 330 8k + 7k in debt = 15k

so, in the end you would owe about 15k all up for a 2004 Lexus. If you can afford those repayments, it's an easy way out of your situation. But, I would solve the problems with your current car and address the cause of that, .. how did that happen / why ?

Then I'd buy another car, without the debt. We _never_/_ever_, buy a car with debt. If you can't afford the repayments for whatever reason, you lose the car and get bad credit.

Get out of debt, buy your car's with cash.

speedkar9

I agree with ES300NZ, don't buy a car when your financially unstable, especially out of emotional desire (as you have succumbed to your love of the Lexus).

Once you've paid off the Altima drive it for a bit until you become financially stable enough to buy a better car outright.

As for the ES330, its a wonderful car if you can get by the transmission and throttle lag in stop and go traffic. Maintenance is quite cheap (with the only expense being the timing belt every 7 years) as its mechanically similar to the Toyota Camry.

justin1203

You won't regret the purchase, however an important issue not discussed is ability and rate of financing an 11 year old vehicle.

You did say you were about to pay off the Altima....if that is the case, financing the ES would be easier.