Im a single mom on a budget I have a 98 200 sx nissan and in a few months am looking to buy a car (my current car is still in good shape) My credit score is 725 and I will be trading my car (should I?) with maybe 1 grand down. I really like the Nissan Versa .My employer has a perqs program with our local Nissan dealer and it is 100 bucks over the invoice price on cars is what I would have to pay. What are my options. I already have 15grand financing approved thru State Farm as their rate are better than any dealer in this Cityand my credit union. I have had my current car for 7 yrs and do u think I should get a new car since I will be keeping it for a long time or a used one maybe 1 yr old?

used cars are better. the depreciation on a new car is staggering. a used one will be cheaper. i would look for one thats 2-3 years old.

I say if you are happy with the car that you have and it is still in good condition I would keep it. I like the 200sx I was considering buying one. If you are absolutely secure in your job and know that you can afford a payment on a $15k car then go for it. I made the mistake of getting rid of my paid off car for a Lincoln Ls for $12k and ended up in the hole. I would maybe go for a step up from the car you have...pay that off and then go for a bigger and better one. Good luck

Boy, you don't get much for $15k. A Versa is really really little isn't it? I think a 1-year old car would be better; you get "more car" for less than a new one.

Well a Used car would be cheaper and since your getting it from a Nissan Dealer it should be in fairly good shape so i would say go for that. If you like the Versa you could also look at Toyota Corollas or Nissan Sentras both are similar to your current car and both should be around 11-13K for a 2004 + model. You could also look at Accords or Camrys but i'm not certain on the prices of those.

What is your opportunity cost? Is there a better use for the money? A college fund for your child? Do you want to buy real estate? Do you have a rainy day fund?Life is really good when you do not have a car payment to make every month. See if you can delay a decision until you have cash to buy a used car or your current car needs major repairs.