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I want to but a new car?

I need anothert car but I found some land to invest in. Invest in land now buy car with tax money??///

Answer Question
 
dorotheabrown37

Asked by dorotheabrown37 at 12:48 PM on Oct. 7, 2010 in Money & Work

Level 13 (1,081 Credits)
Answers (6)
  • I need a car period I have been with out a car for over a year and live in the country
    no1Edonmommy

    Answer by no1Edonmommy at 12:56 PM on Oct. 7, 2010

  • I know what you mean I need the car but I need to invest for the kids future as I have not life insurance. i want to leave them something. I need a car and just trying to decide. I know if a donation place that gives cars to poor people like us vut we need to fix them. pm me and i will give you a call
    dorotheabrown37

    Comment by dorotheabrown37 (original poster) at 1:08 PM on Oct. 7, 2010

  • Depends how bad you need a car. We just bought a new car. Hate the carpayment but it is under warranty, if anything breaks-warranty kicks in,etc. Plus, I hate fixing cars over and over.
    Mom2Just1

    Answer by Mom2Just1 at 3:12 PM on Oct. 7, 2010

  • if ur car can last u than do the land, which do u need worse...
    patsymay84

    Answer by patsymay84 at 3:24 PM on Oct. 7, 2010

  • Have you looked into getting term life insurance? It sounds to me like you need the car more than you need a piece of land. But you might not need to spend all of your money on a car. Maybe just some of it to get you from point A to point B.
    Good luck
    Erica_Smerica

    Answer by Erica_Smerica at 3:42 PM on Oct. 7, 2010

  • Ask yourself what you will do if you don't buy a new car. How will you get around? Do you live in an area where you can rely on public transportation or will you be bumming rides off of friends and family? Will you feel less independent if you have no car?

    If you do go for the land, make sure it's in an area where properties are increasing value. Make sure there's nothing about the land, which would make it harder to sell down the road. Can you afford to pay the mortgage on the property plus pay the mortgage/rent for the place you're living in now? Is your credit high enough to qualify for the loan you would need to buy the land?

    You need to ask yourself a lot of questions so you come to the right conclusions.
    HotMama330

    Answer by HotMama330 at 3:45 PM on Oct. 7, 2010

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