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If you own an old car, you have car payments: you just don't know how much they are or when they're coming!
If you sink $4000 into your Volvo, that's no guarantee that the transmission won't break in 2 months or 10 months.
Sell your Volvo while it still runs and drives. Because it says Volvo on the back, some car-ignorant granola hippie-type will buy it for $3000.
You could lease a new small car (Saturn ION, Toyota/Scion, Civic, Mazda 3) for about $0 down $200/mo and don't look back. My younger sister, who just graduated nursing school, leased a new 2005 Saturn ION 2 5spd sedan this summer. It has all the power stuff, alloys, spoiler, power moonroof, and CD changer. She has a 36 month/ 45,000 mile lease. With $0 down her payment was under $100/mo including WI tax, title, and lic.! The deal was so good that my mom went in a couple days later and leased one with an automatic for $125/mo.
And you'd have $3000 from selling the Volvo and $4000 from not fixing it - $7000 you could put toward the 911 and/or to draw from to pay the lease.
Just my $.02
E
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