Old car paid off, should i lease?

I have an '07 Pontiac Grand Prix GT. Body and interior are very good, but i have several issues:
ABS/Traction control sensor is bad and they light up almost everytime I drive.
Parking brake is broke.
Needs 4 new tires.
I need to keep charging AC
Hole in exhaust
Should get shocks.
So, i’m not in great financial shape. I have one payment left. I can probably get $3000-$3500 on open market for car.
I’m not sure if i should bank my money for a few months with no car payment and take care of what i need to to pass inspection in December then run it for awhile, sell to dealer for whatever i can get and get into a $0 down $169 a month lease. I like the thought of new car, no issues.
Anyone like to share their thoughts?

A Chevy with $0 down and sub $170 a month should be doable.

All the deals that people are talking about here needs to have tier 1 credit. Unfortunately from the sounds of it you may not have tier 1.

Your best bet is to sell your car… If you can get 3500 your in a good place for thst money you can go get a used civic that may have high miles but still be in better and more reliable then your Pontiac.

Good luck.


Dump this sink hole of a car for 3500. I would be surprised if you got 3500 based on the repairs needed. But if you can get it. I would… You can lease a small car for the cost of repairs needed and the proceeds here.

depends on credit tier

i’m not financially secure but i bet my credit score is pushing 800 if not more so i should get tier 1 no problem

i’m thinking i get a dealer to buy it out right for the best i can get, then get a $0 down low payment so i will have some cash in the bank

The dealer is going to give you almost no money for that Pontiac. If it was a GTO you may have a shot but either way private party is the way to go.

But before you go to any dealer you should confirm your credit and check. Most banks now give you a FICO score for free.

Your best bet is still to get a better used car but I’d your credit makes the cut then these deals are possible. Probably more deals coming in July.

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You never mentioned how many miles is on your car and what miles you are planing on piling up on a “new one”. Even with excellent credit, lease is not for everyone, especially high miles drivers. I like the idea of a used car too, just need to be extra careful choosing one and inspection from mechanic you can trust could be worth every penny. Try the CarMax first before you even consider trading it into the dealer, that’s a very last resort imo.

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Carmax is just another dealer, and they will probably give you nothing either.

Leasing a cheaper car is the best bet where you are currently.

You want a reliable, new and trouble-free transportation especially if you livelihood is connected to getting to and from work via driving.

I wouldn’t sleep one more night before selling that Pontiac…

I was not recommending on selling to CarMax, maybe was not clear about it. Just to use it for the information for how much real money he maybe getting trading it in.