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Friday, 18 July 2014

Cars & Transportation: Buying & Selling: “Question: Can I afford a Ferrari 458 Spider and a million dollar house on a $250k salary?” plus 3 more

Cars & Transportation: Buying & Selling: “Question: Can I afford a Ferrari 458 Spider and a million dollar house on a $250k salary?” plus 3 more


Question: Can I afford a Ferrari 458 Spider and a million dollar house on a $250k salary?

Posted: 18 Jul 2014 07:04 PM PDT

Dude, yeah obviously in 6 - 7years time with the current salary you get, a million dollar house and 458 will be yours, but if your salary does get a boost to 500k then I'd say around 2 1/2 years for definite.

P.S since I answered your question could you give some of your salary to me :)

Question: Is this car worth it?

Posted: 18 Jul 2014 06:52 PM PDT

First thing you should check is the KBB (Kelly Blue Book) value of the car. I went ahead an priced it for you and I came out with a price of $4,235 in Good condition. He's selling it a little below that, so there may be some sort of issue with the car. He may say it runs fine, but once you drive off and he has your money, it could break down, and then you're s.o.l.

I'd order a Carfax on it. It costs 40 bucks, but that's better than potentially throwing $4000 down the drain. Also, with a high mileage car, you will want to ask the owner for any available service records. The Carfax will tell you how many owners there have been and how many miles each drove. It'll also show a few service records if the car was taken to a dealership for service.

If I were you, I'd take the car to a mechanic of your choice, and have them drive the car and look it over. This way they can give you an estimate on any repairs, and highlight any damage or things you may not find desirable. Other than that, drive the car and see how you like it. Good luck!

Question: I want to sell my car, but it needs body work?

Posted: 18 Jul 2014 06:46 PM PDT

My car needs work. It's an 07 with a bit less than average milage and a desirable make and model in this state and area. Bluebook value is $9,000 to private buyer, $7,700 trade-in for fair condition. The quote I got was $1,500 to make it shiny and new again (body work). The work is cosmetic and on the back and side, not horrid looking either.

Should I sell it as it is, or fix it and then sell it? I'd prefer to just sell it, but will I be docked a ton because of the damage? I'm wondering if I should sell it to a dealership or a private buyer. Private buyer= a lot of work and confusion for a young woman, and I don't want to be taken advantage of or deal with anything creepy.

Question: Help on buying a used mustang?

Posted: 18 Jul 2014 06:35 PM PDT

Never listen to whatever stories a seller has to say about a car. Your interest are not aligned. If it were just a battery, well that's the simplest and cheapest thing to obtain and he would be selling a low mileage, running car. Instead, he has a story while he tries to unload this piece of junk on to some gullible sucker.

As the car has been sitting a while, any number of things could be wrong with it. First and foremost, maybe the car started sitting when something broke all that time ago and the fact that it's not running has nothing to do with time but with the fact that this con man didn't have the funds to fix it then so the car sat. Could be that the fuel is now bad. When you know a car is going to sit for an extended period of time, one should remove the spark plugs and drain the fuel.

Anyway, you need to run away from this car.There is nothing special about an 01 V6 Mustang. Nothing. Go find one that doesn't have a pack of lies attached to it.

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