Fnix

I am 18 and just got a 2006 PT Cruiser @$240 a month for 72 months with %9 APR. After some thinking and calculations I found out that I am in the "upside down" loan unless I do it in 48 months. But I also realised I dont want the burden of paying monthly bills like this I cant even move out until they are paid and I make $450 a week. The PT Cruiser is cool, it doesnt get that great of mileage. It's not the car but just the worry on me.

I was thinking of trading it in after 6-8 months and just get me a n Old Honda I can commute to and from work in. Better mileage and I wont have a burden. What do you guys think? If i trade in will I lose my $2500 down and what about reliability of an older car with 80k+ miles.

Drive and Carer

Depending on how much you paid for it, you may lose more than the down payment, I'm afraid. PTs don't hold their value very well.

An older Honda would be a nice choice, but take your time and do it right. Start locating vehicles that you would consider. In the meantime, try to sell your PT. You will be able to get much more selling it and paying off your loan than you will by trading it it.

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