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Need advice on truck with $3500 left on the loand...

 
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teslamight teslamight
New User | Posts: 2 | Joined: 07/12
Posted: 07/17/12
01:28 PM

I'm currently unemployed and own a Honda Ridgeline 07 that I bought brand new and have never been in an accident with, 125k miles with $3500 left on the loan and about $3000 worth of repairs needed.

The repairs needed are as follows:
AC cold air does not work
Needs new drive belt
A few chips on the paint showing rust, and a couple minor dents
Brakes shoes are very corroded and may need to be looked at, as well as several hardware pieces under the hood

I still get the same gas mileage I always have (16-18 mpg highway), the temp gauge hasn't budged much over the year, so I'm assuming the mechanics are still good; my problem is not being able to afford the high insurance and upkeep of the vehicle anymore.... much less the payments.

What should I do?  I was hoping it might be possible to trade the truck into a dealership for a smaller compact car with better gas mileage with compatible mileage... is that even remotely plausible?  

henry.budd henry.budd
Enthusiast | Posts: 260 | Joined: 01/12
Posted: 08/04/12
12:54 AM

I would suggest you that if you can't afford to maintain this one then sell it off. But before selling do little repairing if the condition of your truck is bad. You can buy a smaller vehicle using that money which doesn't require high maintenance cost and also comes with great gas mileage. Do little research you will definitely find something as per your need...good luck!  
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