Need some advice: What should I spend on a car?

[TStoneMBD]

Ive been playing poker professionally for 7 months now. I have had tremendous success. My bankroll is 17k, my monthly expenses are about 2k and I've been averaging about 50/hr playing live cash games at about 35hrs a week. My car recently broke down and after dropping several thousands into it, it appears that it may not be able to get back on the road as there is some sort of electrical problems with it. I have had so much bad luck with cars in the past, and whenever I have car troubles I have to take a taxi from my house to the casino and back each day which is $30 each way. Either that or I have to sleep at the hotel which is $80 a night on poker rate. Between repair costs on used cars and taxi fees I have wasted so much money on cars in the past 6 months. I plan to move to Atlantic City by next January, and want to continue to build my bankroll at as fast a pace as possible so that I can continue to move up in limits as long as I can keep up with the level of play on a winning level.

After having said all that, what do you think is the best thing I should do for transportation? Do you think it is wise to go out and get a loan for a new car? Should I drop 4k of my roll and buy a used car? I need to keep my bankroll up as I play 20/40 on a regular basis. If I were to get a new car it would probably be Hyndai Accent which are relatively cheap. If someone has experience in this matter I would really appreciate any advice that you could give.

[snowbank]

Either that or I have to sleep at the hotel which is $80 a night on poker rate

Try the T Stone Inn. I used to be able to stay there for $39 a night when I used to go down just to play blackjack, and I was only going once in a while. Check it out. Free bus rides there too, so you wouldn't have to call a taxi.

Doesn't help your car problem though. [img]/images/graemlins/confused.gif[/img] sorry

[jogger08152]

I would recommend you buy a used Honda Civic or Accord, or a used Toyota Corolla (sp?) or Camry. Don't worry too much about mileage (the engines in all of these are excellent), but do worry about year - aim for a '95 or later. According to a mechanic friend of mine (who I trust), Hondas are cheaper to repair when necessary, but all four of the above are low maintenance, reliable cars.

[Michael Davis]

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I would recommend you buy a used Honda Civic or Accord

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[schroedy]

Everyone either has a monthly car payment (loan/lease) or a mechanic's bill and they are approximately equal.

[david050173]

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I would recommend you buy a used Honda Civic or Accord

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I would recommend buying a new one and driving it forever. The problem with accords is that they don't depreciate fast enough to save you enough money. i think it is worth the extra couple thousand (remember you are comparing cost per year not initial purchase price). The big winner in the used car market used to be the geo prism. American depreciation and Japanese quality.

[jogger08152]

Leases are assuredly not equal.

[STLantny]

If you are going used, I suggest a Jeep, they arent the most practical things in the world though. I had one w/a soft top, and a hard top for winter, it wasnt that big of a deal weather wise, and those inline 6's will run forever, + good gas mileage, if you get a carburated one, makes sure to get a good new carb for it ~200$.

[TripleH68]

I am a big fan of the Honda Civic. Bought one new in 1994. Drove it for 150,000 miles without a single breakdown or repair...and sold it for $2,900. Bought another new and am at 55,000 miles without a single problem.

Whether new, used or lease is up to you...

[lil_o]

drop about 5k on a used honda/toyota coupe with under 100k miles. it will last for forever and be very low maitenance.

if you do buy a car, make sure you buy a carfax report and find out if insurance is cheaper for atlantic city or verona.

gl.