Wajahat Rizvi, 61
Q: What was your worst financial decision?
A: In 2005, I invested $5,500 into buying a car in cash at a Queens auction auto mall in Richmond Hill, New York, without a certified dealer. The car was a 2003 gold Daewoo model sedan with no physical damage. In fact, it looked new and did not seem to have any flaws. However, after I used the car for a month I noticed there were minor flaws in it such as heating up of the motor and whirring. However, I neglected them until one day the car refused to start. I took it to the local mechanic and he told me the engine was malfunctioned and he would need to replace the engine to revive the car, and the parts would have to be imported from another country because the brand of the car was not that common in America. I knew at that point, it would be more money wasted down if I kept using it, so I junked the car after five months of using it. I will never buy a car again at an auction sale, without a certified dealer or without having an inspection of the car first.
This entry was posted in The City. Bookmark the permalink.Source: http://www.rechargerthedog.com/2012/12/13/blew-5500-at-queens-car-auction-car-died/
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