Automotive Forums

I'm faced with a bit of a dilemma.

Back in 2005, I sold my VW GTI so as to not have any payments.  I purchased a used 2001 Ford Focus and paid for it in full. The car is running well but will probably need about $1K of work to keep it maintained and safe (i.e. new shocks, tires, probably a timing belt, etc).  

One thing that happened to the car that makes me nervous is when I purchased it, I changed the plugs immediately.  Well, the old plugs were so badly worn that a piece of the ceramic end of the plug chipped off and fell into the engine block.  Needless to say, I didn't realize it until the engine fired up again.  The noise wasn't pretty but the piece went out the exhaust port and things cleared up.  Now the engine has a bit of a clattering sound when cold.  It worries me because I think there was some damage done  although I experience no oil burning or power loss or poor fuel mileage.

Anyway, my point is that the car needs some maintenance work.  Nothing major....just things to keep it in good running order for a few more years.  Now...the kicker.  My sister needs a car but can't afford one.  So I was thinking I'd give her this car and she can pay me monthly for it interest free...at a lower price than what I'd sell for outside.

The dilemma...I need to get another car.  Frankly, I don't want to get another used car.  I;d rather get a new one and keep it for a while.  I already made the mistake of selling my GTI (economically speaking) but I don't regret it.  Being payment free is wonderful but obviously my Focus doesn't have the safety and comfort of a newer car.

What do you guys think?  I've had the Focus now for about 2.3 years.  It has about 60K on it.  I bought it for around $6.5K and will give my sister a price of $4K and she can pay me whenever, however monthly.

I've been looking at the 2007 Nissan Sentra SER model with CVT transmission...slight better fuel mileage than the Focus even though it's more powerful and larger.  I can get one for $16,995K +T/L...a very good deal considering the INVOICE is like $19K.  I guess they want to move these things for the 2008's.

Insurance I checked is like $60 more per year than the Focus believe it or not.

Any opinions? Suggestions?  

Your other option would be to keep or sell the old car and then start a leasing contract with a dealer for little or no downpayment.  Entering a lease deal will give you the opportunity of having a new car every 3 to 5 years so long as you renew your lease contract with the dealer of your choice.  Otherwise, if you really must own the car that you want, may as well get rid of the old one.

Hope this helps!  
The Best Car Lease Deals can be found at:

http://www.carleasingsecrets.com