Cars for $5000-$7000

[Spudz27]

Hey guys. In a month or so I will receive and inheritance from my grans estate. My plan is to pay the 14k owed on the Camry, then try to sell it for $10,000, which should be achievable seeing as it is an 03 V6 Sportivo with only 119k on the clock, cruise, full climate control, 6 stack CD, full trip computer (even the 06 2.4 sportivo has no trip computer) and I will pay for timing belt to be done before sold as it is due at 130,000 according to my book. Then buy a $5000-$7000 small car and put the rest back into the savings. I don't have a job at the moment, but my inheritance is not to be used as my income, it is to pay debts and then save remainder, so if I can make some money back on the camry, and still have a car to drive that would be great. I am not overly worried about brand, just prefer it to be small, pref auto and pref 1.8-2ltrs.

Any advice would be awesome. I considered buying another ED (really miss my ED) for $1000-$2000, spending $3000 making it nice, but I think it may be a silly thing and not something my gran would approve lol.

Forgot to add, another reason for getting rid of the camry is that even though in nearly 3yrs nothing has ever needed repairing (even coolant is still the bright pink colour) it uses fuel like it is endless, like 13.9l/100km avg. I have done new plugs etc, have not done fuel filter yet and still running on 91 (fairmont get's 98) even though under load it sounds like it is pinging.

[Jim Goose]

An ED?

Ok sorry i realise you dont have a job, but buying a cheap ED Falcon then pouring money into it (almost a bottomless pit) isnt a sensible thing to do.

Stick to the small 4 cyclinder car idea, as new as possible.

[Road Games]

Talk to LINZ that is all

[Franco Cozzo]

I know you mentioned auto, but who wants an auto small 4 cylinder car? These are quite fun to drive too, a bit better than the Fiesta of the time.

http://www.carsales.com.au/private/d...-2004-11798102

[drew`SEVNT5]

Um.

Throwing 14k at the Camry, to get 10k for it? Then to spend 5-7k on another car?

Wouldn't you best be off paying off some/all of the camry and keeping it?

You can guarentee it will be more reliable than an old ED or near on anything you pickup for your price range...

[buggo]

Why not convert the camry to gas for a few thousand? Will save you heaps in all directions.

[302 XC]

Pay the camry out, yep good idea considering you have no job
Selling a car thats say maybe worth 10K , to buy some POS 93 model for cheap then spend money on it ,that could be anywhere from $50 to thousands, then throw in the reliability issue ???
I dunno but it just sounds dumb
Keep the camry,use it to get that job , keep it serviced and drive it
Keep that right foot of the floor a little and the economy should get better

[Blue_XR]

I would suggest you pay out the camry and keep it. Even you have stated the car is very reliable. If you were to buy something older you don't know what you would be getting so you could end up pouring money into an older car.

Maybe try 95 fuel + to see of the engine sounds different and might get better economy. Put a new fuel filter in why your at it and see how it goes.

You have to remember that when you buy and other car you will have stamp duty to pay as well, although it shouldn't be that much on a cheaper car but it is still another expense.

[Spudz27]

Originally Posted by 302 XC

Pay the camry out, yep good idea considering you have no job
Selling a car thats say maybe worth 10K , to buy some POS 93 model for cheap then spend money on it ,that could be anywhere from $50 to thousands, then throw in the reliability issue ???
I dunno but it just sounds dumb
Keep the camry,use it to get that job , keep it serviced and drive it
Keep that right foot of the floor a little and the economy should get better

Right foot is not the problem as my fiance drives it. She is very conservative when it comes to the accelerator and when I use it, it gets the same crap economy, I just can't figure out why. I use the Fairmont and I get 550-600 out of my tank. Her parents have an 05 2.4ltr and it gets 600km at least.

[drew`SEVNT5]

Originally Posted by Spudz27

Right foot is not the problem as my fiance drives it. She is very conservative when it comes to the accelerator and when I use it, it gets the same crap economy, I just can't figure out why. I use the Fairmont and I get 550-600 out of my tank. Her parents have an 05 2.4ltr and it gets 600km at least.

Have you taken it to Toyota to ask why?

[Spudz27]

Originally Posted by drew`SEVNT5

Have you taken it to Toyota to ask why?

My dealings with the local toyota have been less than impressive, let's just say a week after I bought the camry I took it back for a recall, then my door stopped opening from inside, then the clips fell off the aircon vents, this was in a week. The day I got it, I inspected it and had to have one of the fog light globes replaced, then in the second week of ownership I returned because trans was wierd and got told it was fine and should be gratefull for all the stuff they did free the week before. In the end they refunded me $360 for a trans flush that took 32ltrs to clear and discs skimmed because I took them a detailed report outlining the very concerns I got fobbed off about. So no I have not taken it to my local toyota lol.

[falconnut]

Try a different Dealer, if i was in your position i would rage at them until i got the car fixed.

To be honest with you i think it would be best to keep it and slowly pay it off, save up for your ideal project car then go to town.

[z80]

That camry is not worth 10k.

Don't pay the $14K, let them re-posess it.

You can get much better cars than a 2003 camry for $10k mate.

[flappist]

Originally Posted by z80

That camry is not worth 10k.

Don't pay the $14K, let them re-posess it.

You can get much better cars than a 2003 camry for $10k mate.

Brilliant idea.

Well except that after it is repossesed you will have a big black mark on your credit history.

And of course they will just sell it for wholesale less expenses and you will STILL owe the difference which will be much more than if you just sold it yourself and if you refuse to pay this will take you down the nasty path to bankruptsy which will be a bloody HUGE black mark on your credit history.

So unless you want the only place that will sell you a car to be "Motor Finance Wizard" I would suggest you stick with plan A.

[Spudz27]

Originally Posted by z80

That camry is not worth 10k.

Don't pay the $14K, let them re-posess it.

You can get much better cars than a 2003 camry for $10k mate.

I do enjoy a great credit rating but. Anyway for the km's it has, features it has and the fact it is a toyota, I reckon I could squeeze 10k out of it. At the end of the day if no one would pay $10,000 I would keep it as an asset to my name rather than all debt and trade it in when I had the funds for a new car.

[The Yeti]

Originally Posted by Spudz27

I do enjoy a great credit rating but. Anyway for the km's it has, features it has and the fact it is a toyota, I reckon I could squeeze 10k out of it. At the end of the day if no one would pay $10,000 I would keep it as an asset to my name rather than all debt and trade it in when I had the funds for a new car.

+1

Although motor finance wizard says yes

[Mr Hardware]

13L/100klms around town with the aircon on is perfectly normal for a V6 camry.

[calais]

I have worked with quite a few people who are working their way out of stupid debts with simple hard work and smart economic management.

Never, ever expect to trade your way out of poor debts with cars. Losing 4k on the Camry, then spending another 7k on something else just doesnt make sense in anyones language.

If you are having economy issues with the Camry, try the simple things first, new filters, and oxygen sensors. Then examine your own driving style, and you might just find that the Camry is quite a fuel efficient thing. One thing is for certain, a well maintained V6 Camry will beat a 4 Litre Falcon for combined economy any day of the week.

One more thing.... don't count such cars as valuable assets...... they depreciate year on year leaving you with less and less to call on should you need to sell.

Whatever you do, think it through very very carefully.

[LOWBA6]

I think the fuel economy your getting is pretty normal for a V6 camry... Id take the inheritance, pay out the money owing on the camry and keep it. As you said its a good reliable car, theres no point going to an older car with unknown issues to save very little money in the short term!

[302 XC]

Originally Posted by z80

That camry is not worth 10k.

Don't pay the $14K, let them re-posess it.

You can get much better cars than a 2003 camry for $10k mate.

I like your thinking !!!

So the car gets repoed, then sold at its value on the day lets say for 8K at a auction ,maybe less
What would you think happens to the shortfall of lets say 6K ???
It doesnt get wipped away like spilt milk on the floor
They chase you for this amount , usually with added costs incured, so it could well be beyond 6K , when its all done
They can also take ANY of your possessions to help rectify this loss
Even take the shirt of your back if they want
Let alone the damage to the credit rating

[TheZHLANE]

au xr8 s2/3

[wrongwaynorris]

I think it will be a miracle if you get $10,000.00 for the Camry . But best of luck with it .

[Jason[98.EL]]

Originally Posted by 302 XC

I like your thinking !!!

So the car gets repoed, then sold at its value on the day lets say for 8K at a auction ,maybe less
What would you think happens to the shortfall of lets say 6K ???
It doesnt get wipped away like spilt milk on the floor
They chase you for this amount , usually with added costs incured, so it could well be beyond 6K , when its all done
They can also take ANY of your possessions to help rectify this loss
Even take the shirt of your back if they want
Let alone the damage to the credit rating

yep been there done that and still paying for it to this day

bar taking of things didnt happen to me

spudz do not and I repeat do not go the way of the repo as it will make things hard in the future when you need to get finance trust me on this one

I need to get a people mover due to my wife and I are expecting another baby in the middle of the year and need one by then and guess what we are having a hard time getting finance even though I now earn close to 70g a year at this moment with written proof from my employer to have a min 6 yrs work

it becomes bloody hard to do things you need to for you well being

Jason