I need some advice.
My dad is actually driving a 10 year + car and he is paying $500 a
month installment and has to pay for 3 more years
His car on and off got give him problem and i heard from him that
he has to change the engine which will cost a bomb.
He didn't want to change, reason being:
1. He is too old to pay for another 10 years
2. He can't sell his car becoz he has to settle the outstanding and
his scrap value not enuff to pay off the remaining loan
3. He use his car mainly for work and need to carry sometimes heavy
metal stuff. A new car has to maintain while a old car can anyhow
treat.
Personally i feel that $500 a month is way too expensive for a 10+
year car, can get a new car and the car is not fuel efficient at
all. A trip out at night, pump $20 also can finish.
Is it really the case that he has to settle the loan first before
he can buy?
Any possible way where we can scrap this old car and get a new
one?
