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Capital One Credit Score & Bad Car News

April 7th, 2014 at 01:59 pm

I recently got a credit card offer from Discover. I use Capital One, but was seriously considering switching because of the free credit score they give you monthly. Well when I logged into Capital One today I was surprised to see that they offer this same service now!

My score is 721. Which is the same score Credit Karma gives me. But I do not think that is right, because I went to my bank and got my credit score pulled about 2 or 3 months ago and he told me it was only 690. So I am not sure it could have jumped that month. Gr. That means it really wont give me an accurate reading. But it will still help me see when my score goes up. I will just remember to subtract 20 to 30 points from it.

I got word back from the mechanic on my Cobalt. It is bad news. Frown The timing chain did in fact fall off, and completely damaged everything in the engine. Which means, the car will not even start again until a new engine is put in. Ouch.

Now I need help deciding on what to do.

A.) Find a used engine and spend $1,500 - $2,000 replacing mine. Then sell the car for $3,000 - $3,500.

B.) Cut my losses and sell the car for scrap. Probably get about $200 from it. But I already owe the mechanic a couple hundred for the work he has already done.

Paid myself back the final $50 for the cabinet today.

Posted in Uncategorized | 5 Comments »

5 Responses to “Capital One Credit Score & Bad Car News”

  1. creditcardfree Says:
    April 7th, 2014 at 02:41 pm 1396881696
    1396881696

    If you are sure you can gain money on the deal and you have a way to pay for the engine, I think I would go that route. If you are only going to break even, then...I'd rather have the $200.

  2. ceejay74 Says:
    April 7th, 2014 at 03:43 pm 1396885409
    1396885409

    Is this the car you just bought from your grandfather? If so, what is the plan for securing a new vehicle? If it's your old car and you're pretty sure you can make a profit (and can float paying for the expenses until it sells), I'd strongly consider the first option of fixing it up and selling it.

  3. klarose Says:
    April 7th, 2014 at 04:02 pm 1396886558
    1396886558

    It is my old car. The new one from grandfather runs great. I am very glad I bought it when I did, otherwise I have no idea how I would have gotten to work.

    As long as the engine costs less than $2,500 I will make a profit. I will get final price quote before we decide.

  4. Mooshocker Says:
    April 7th, 2014 at 04:18 pm 1396887519
    1396887519

    Also....consider the tax write off by donating it as a Kidney Car. May be a better move.....maybe not....now wasn't that helpful! Jamie

  5. Carol Says:
    April 7th, 2014 at 04:46 pm 1396889163
    1396889163

    Cobalt's have been in the news in such a way (GM recalls, bad ignition springs etc.) that I worry you might not find it easy to sell it.( even if it is not a troublesome year.) Maybe you ought to ask around about how easy it will be to sell before you go though the trouble of fixing it. Good luck either way!

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