My guess is not, but maybe I am wrong. Please let me know if any more detail is needed.
I've been pretty stressed about this but the memes and jokes here have made me lighten up about things. Thanks guys
Hey everyone.
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Back in February I bought a used 2010 Toyota tundra from a dealer in MA. Total cost was roughly 16,000. I put 7000 down and then financed the rest at 4.99% for 5 years. My payment is around 180 dollars a month. I have no problem paying this amount, it's squarely within my budget.
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My problem is the truck is junk. I am firmly taking blame on buying this truck, and it's my fault for missing the issue I am about to explain. Last week, a brake line started to leak. That is fine and easily replaceable. Unfortunately while looking under the car I found a very noticeable and very large rusted hole in the frame. I absolutely should have seen this when I bought that truck, but I didn't do enough due diligence.
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I am going to take it to a shop once I get and replace the brake line, but I am 99% sure the frame is not repairable. I've looked online and maybe there is recourse for reporting a negligent inspector for passing the car, maybe something I can do legally with the dealer (outside of 30 day warranty and lemon law, but I've read things about auto fraud and other consumer protections).
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Considering worse case scenario, I will have to sell the truck at a big loss given it's unsafe. I don't know how much exactly, but my guess is not even close to the 9k I have left to pay. I am really embarrassed and feeling so stupid for this purchase. I actually want to cry. I usually don't make such bad decisions like this, and it's a valuable lesson to learn, but just so dumb of me.
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So I am stuck with an unsafe truck, will have to sell it for whatever I can, then be out with basically no vehicle. I have 9k in savings and my wife as 8k, but I don't want to expend all our money on a new vehicle right now. We still have one other car, but I can't go 5 years without one while paying off this loan. I technically could afford another loan around the same range, but don't want to drop the money on a down payment. Idk if there are more details needed. I just need some advice on the best next steps. I know this is a harsh truth type subreddit but please go easy on me, I am already feeling pretty down.