Ok, I have a bit of a conundrum. I'm trying to buy a new car.
I've already put a deposit on one for $500 (car 1)
I found another, which is in a color I prefer, for around the same price. It also has 30,000 miles less (car 2). I bargained him down $200 to make up for my $500 loss of deposit on the other one.
However, car 1 has a two year warranty on all major components (engine, transmission, suspension), whereas car 2 only has a warranty for up to 6 months, and I'd have to purchase it separately (for about $200-300). If I want to have car 1 be the color I would like it to be, I'd need to paint it/have it painted.
What should I do in this situation, and why?
I intend to keep this car for 3-4 years. Possibly more.
Cars are around the same price. Total, with loss of deposit for car 2 is $7300, total for car 1 is $7100.
If I get my deposit back on from car 1 (presuming I went with car 2), it would be $6800. Probability of that seems low.
Both are 2005 Ford Mustangs, one with 150k miles and the other with 120k miles.