Serious question time. My car is on the way to the shop.Serious question time. My car is on the way to the shop. I depleted what little bit of emergency fund I had on the tow trucks. (One tow to the house, then a second to the shop after my uncle said it was hopeless). I'm going to let the shop look at the car. Here's where my questions and issues arise. I absolutely do not have finances set up to continue to dump money into a 10 year old 160k+ mile SUV. 2 days before the car broke down I ran out of my "year service warranty" with the car lot . I owe just under 10k left on it, at 450 a month. When I left my abusive marriage I took what I could get, I'm not proud of my inability to think clearly at that point, I just knew I needed a car. I have the possibility of getting a car from a real dealership and not the buy here pay here lot I currently use. What I want to ask is, if I surrender the broken car back to the buy here pay here place, they auction it and then I'll have to pay the difference, according to the lady at the car lot. (Figuring around 3k at most there instead of 10k). I am getting a decent sized refund this year and would be able to put a good down payment on a new car and wouldn't have the fear of breaking down again due to age. Or I could fix the broken car and possibly have to continue to do large amounts work on it for the remainder of the cars life. I know every car has issues but I'm lucky enough someone is taking my girls to daycare every morning, me to work and then picking us both up and taking us back home in the evening. That won't last forever though. Oh also, just from my uncle talking, the engine may have to completely be rebuilt. Apparently I leaked a ton of coolant into my oil and it never wanted to give a warning until it was too late. The oil in the car looks like watered down chocolate milk. What would you do? Any advice? I'm terrified of making the wrong decision and just want to make one step that will be right.
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