Need advice about a car

So I’m a single mom and I can’t afford my car payment of $400 anymore. I first got the car with my ex, so it’s in his name and I’m going to be giving it back to him so he can take over. I was looking at used cars by private owner on offer up and was gonna get something for around 3k since that’s all I can afford right now with my income tax, and was thinking of selling it next year around tax time to accumulate more $ and get something better. Does this sound like a good idea?

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- You can also trade the car in for a more affordable one But I do think buying the car outright would be good. Just get it from a certified dealer or with a strong purchase agreement.

@KNN the car ain’t in her name tho. She can’t trade it in at all

@Amanda ah, I misread that. You’re correct.

Alright so I just tried trading in my 2014 Civic *pristine* >100k mi. Hondas have a great resale. Bro. Every dealership tried to give me $500 trade in credit. I decided to hold off on buying a vehicle bc I knew the kbb value and went with caravana and they gave me $6k (carvana is doing terribly so this prob won’t be an option in a year from now) I bought a brand new Santa Fe with a $400 payment bc I got such a good payout from my civic, totaled it at 7mo preg and had to buy ANOTHER car and now my payment is $500/mo bc I lost all the money I put down on my SantaFe. I can’t afford this shit dude. Sorry that was all just some backstory. Butttt used cars have terriblllleee resale value unless it’s through a private seller and even if you’re buying a car for $3k… you’re never going to make a profit from selling it in a year. Dealerships are getting $15k for old ass civics like mine. So if you’re getting a car for $3k … it’s for a reason

@Amanda ugh that’s so true

That's the best idea I can think of. I would get a cheap car every couple yrs. Unless you can be financed for a cheaper monthly payment for a better car?

Yes.

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