I second what JB in DC says; find a good independent mechanic, keep the car, and pay it off. I'm guessing you owe something like 12-14k on the car, so there is no easy way to refinance the car loan, or even to trade for a new car, and roll that much into the new loan (which is not a good idea anyway, and you probably already know that). As long as it has been maintained up to this point, there is no reason it shouldn't be good for another 100,000 miles with just maintenance. If you own a house, you could use an equity loan to pay off the car, this would even be tax deductible and be a low interest rate, but you would have to promise yourself to resist the temptation of buying another car until you have paid that off. The car industry lives off scaring people into thinking that once a car reaches a certain mileage (30,000, 50,000, 100,000 miles are common milestones), that it is a walking liability, and could fail terminally without any warning at any moment. They will even facilitate you by figuring out a way for you to get out of such a vehicle that you still have a loan on. The reality is cars go much longer than they did 30 years ago. I know somebody who buys a new Volvo every 2 1/2 years or 50,000 miles, whichever comes first, because he won't drive a car older than that between his main home and his weekend home, which are 100 highway miles apart!

posted by 151.199.33...

• best way to get out of an upside down situation?, JB, Mon, 5 Jul 2004 16:05:33
  • Re: best way to get out of an upside down situation?, Erik W, Wed, 7 Jul 2004 16:21:55
  • Worse and worser......., Mike Lynch , Wed, 7 Jul 2004 11:35:00
    • If mileage is okay, I second the lease..., b.flippo, Thu, 8 Jul 2004 12:29:59
  • My tactic to avoid being upside-down..., James D, Tue, 6 Jul 2004 10:35:23
  • You know the answer, pay it off..., JBinDC, Tue, 6 Jul 2004 06:18:46
    • Re: You know the answer, pay it off..., Pa Taket, Tue, 6 Jul 2004 10:33:40 <-- Viewing This Message
  • you're not Erik Carlsson are you?, Trev, Mon, 5 Jul 2004 17:15:27
    • Good one. Dave Ramsey says..., GeorgeL, Mon, 5 Jul 2004 19:15:19
    • Upside down..., robs, Mon, 5 Jul 2004 18:47:54
  • upside down situation? (sorta long), fsik, Mon, 5 Jul 2004 16:39:25
    • best way to beat it is come down under! LOL! :), sab, Tue, 6 Jul 2004 01:58:08
      • Re: best way to beat it is come down under! LOL! :), fsik, Tue, 6 Jul 2004 06:25:05
      • owe more than the car is worth. n/m, markP, Tue, 6 Jul 2004 06:14:47
  • Just drive it forever, into the ground, no? n/m, AlexA, Mon, 5 Jul 2004 16:24:53
    • what if I'm starting to question it's reliability? n/m, JB, Mon, 5 Jul 2004 16:31:57
      • New cars have problems too......., Mike Lynch , Wed, 7 Jul 2004 11:44:19
      • get a AAA membership w/ free towing. nm, rob , Mon, 5 Jul 2004 17:17:48

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