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Sunday, April 17, 2011

What Would You Do?

So I have something to think about but the decision does need to be made relatively quickly. My grandpa's car is being sold.

It's a KIA Rio hatchback. It has about 60,000km and it's a 2008 car. It's silver (he even got seat warmers for the dog).

My family is being offered first dibs on it if we want it. The cost: ~$8000. My uncle and my mom seem to think that if it's being sold to a family member that there are no HST costs (that's pretty huge to be able to save 13%). It also has about 2 to 2.5 years left on the warranty.

I have been thinking about purchasing a new car and was set on buying one for next spring if my current 1999 Toyota Tercel would make it through another winter. My current car is at 225,000km. My mom thinks that I could sell that one to my brother for $1000 (although I'd probably go for less).

The thing is, it would completely wipe out my TFSA savings. My insurance would also go up. Hmmmm things to think about, what would you do?


  1. That's a tough one. It's a good deal on a young car and it still has a warranty going for it. This may sound dumb but if it's a car you like, aesthetics wise, driving around in and general comfort then I would say go for it as it can last you a while. If you actually know you like something better or have been eying something else then you should hold out, save your money and quite possibly you will still find a good deal on something you like.

    Your choice in the end. Sorry if I am not much help.

  2. Your choice. But never ever would you get 1000$ for that car. Ever. You might get 100$ for scrap.

    If you like the car great. If not you can always find something else.

  3. If you like it, though I've heard some Kia horror stories, so that would be my hesitation. Let us know what you decide!

  4. That is a reasonable deal - have you driven it and did you like it? At least you know it's been well cared for and warranties are like GOLD! I'd probably go for it.