Author Topic: Jeep finally STB.  (Read 1569 times)

Bearblastbeats

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Jeep finally STB.
« on: June 19, 2013, 09:28:25 AM »
Welp, so it went. Left me stranded at work.

My buddy will sell me his 2003 Matrix for $5k. It is in good shape and has only 108k miles.

however, I don't have the $5k to give him, however he may consider a DP and then a payment plan. Which I can do. He wants to write a contract to cover both of us and wants me to get full coverage insurance until I pay in full.

Does this sound like a solid idea?
I need some good financial/legal advice.

Matt K

  • Bristles
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Re: Jeep finally STB.
« Reply #1 on: June 19, 2013, 10:57:35 AM »
If you do something like this, you definitely want it in writing. However, I'm going to suggest not doing it. If things don't work out as planned, for whatever reason, it can wreck your friendship.

For what things in life do you even need a car, is there a car sharing service like Zip that can meet those needs? Is public transit simply not an option, or merely an unpleasant option?

Honestly, I'd do the best you can to be entirely car free if possible. If not, since you can't afford $5k, I'd get a beater for what you can afford.

Lastly, while I don't know your car market, I'd take a long look at craigslist, kijiji, used<city>. $5k for a ten year old Matrix with 108k miles would not be a good deal around here.

Rural

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Re: Jeep finally STB.
« Reply #2 on: June 19, 2013, 12:45:53 PM »
I'd look into what it would take to repair the Jeep first.