Need to replace my Civic Si

numbnuts77numbnuts77 Member Posts: 1
edited July 2020 in Honda
Long story short, I need to move out asap. I need to free up some monthly cash flow if I want to afford rent. Credit is good.

I currently lease a Civic Si with my payment being $300 a month and insurance at $150 a month.

I've already had the car appraised an I'm around $1000 upside down. (car is 1 year old)

I have around $5,000 in cash that I can put towards a used car, and I can still afford to finance some since insurance will be much lower on an older vehicle. Under $10-$12k would be ideal.

I'd prefer something with a stick that I can still have a little fun in.

What do you guys recommend?


  • kyfdxkyfdx Moderator Posts: 227,842
    Not a car recommendation, but...

    Any car you have to finance will require full insurance coverage.

    If you buy a $10K car, and borrow $5000, you'll have two years of payments at $220/mo.
    Your full coverage car insurance will not drop as much as you think. $130/mo

    Now, you've increased your cash flow by $100/mo, but you've spent your $5000, and you have a car that is not under warranty. After two years, your cash flow will increase greatly, but then you'll have an old $7K car. Of course, it will be paid off.

    I'd rather spend the $450/mo for the SI, and use the $5000 to ease the cash flow crunch over the next two years.

    Alternatively, find a $5K car, and really reduce your cash flow. (drop collision coverage)
    Of course, you'll need money for repairs/maintenance, and insurance will still be $75/mo.

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