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What about buying new? Use the five grand as a healthy down payment and you should end up with low monthlies.
Or only put three grand down and use the other two for reserves.
Was the Corolla the only family car? Or do you have another one. The reason I ask is if you have your own car and the Corolla was just the boy's, then give him your hand-me-down and get yourself the new one.
Just a thought.
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