Just bought a 2018 Hyundai Sonata back in November and just found out the other day, it potentially has engine failure. I was not aware that the particular model of car I bought was known for having engine issues. I do not have the money to buy a new engine, and I still owe 14k on the car. Please pray this works out. I am so stressed out and very disappointed. The car has no warranty, so I'm basically stuck with it. This is the first car I've ever financed and I can't believe I'm going through this after having to go without a car previously for buying it. Is God punishing me?
$14k still owed on a 7 year old car?
That's a LOT of money for that old of a car.
Most vehicles have a 200k mile limit. That's when the engine WILL disintegrate.
A new engine is the same price as the car at this point....about $3,500-$4,000. And that doesn't include installation.
You need out of whatever deal you made for that car. This is not God punishing you....this is a complete lack of wisdom concerning car purchasing. I can buy a '18 Sonata cheaper than a new engine for one.
5 year old cars are disposable cars....same with 11 year old trucks and SUVs. They get a problem and it's off to the junk yard. You will get more for the parts than the vehicle is worth drivable.
I've given away vehicles like this before. Signed over the title to charities.
You need someone to help you with financial decisions. SERIOUSLY. One day you will recover from this....but it's going to be a while. $1,400 is more reasonable to still owe....but $14,000 is ridiculous.
1
