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Car trade-in question

MeanDean said:
Obviously the old car will NOT be worth more in 2 years.

But if you look at its two year depreciation VERSUS the depreciation on a new one! No way you're money ahead trading now.

But really your options are to try to reason with her or give in. And since I don't know you or her, logical thinking may be of no assistance.
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True. But you are going to replace the battery shortly and some belts and other stuff. You will be back on full warranty as well.

Plus the vehicle they are looking at getting is so much better to drive and much more functional in all likelihood.

Pride has the money.
 
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I've lost a lot of money on cars so I guess that makes me an expert :) I still lose money on cars but now I follow two basic principals.

#1 I never buy a different car unless I have the cash to buy it outright. This may be different if I drove something that was constantly breaking down. However, I'm not going to get a loan on a car just because I don't like it.

#2 I try to buy a 2-3 year old CPO car with known reliability. I'd rather drive a $30k car with 20k miles that was once a $60k car than a brand new $30k car. Let someone else take that first big resale hit. I love hearing how everyone is leasing their cars now, it just means I have a lot of used models to choose from.
 
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Stormin said:
True. But you are going to replace the battery shortly and some belts and other stuff. You will be back on full warranty as well.

Plus the vehicle they are looking at getting is so much better to drive and much more functional in all likelihood.

Pride has the money.
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Did we ever determine what Mrs. Pride is driving around in? We know she wants a RAV4, is she stuck tooling around in a Mini?
 
Car dealers salivate for low mileage cars like this. You should have no problem selling it privately.
 
If you can afford it, sell it and get what she likes. Even if it's only 20k after 4 years, that's still a good chunk of hours behind the wheel. Some people think of their vehicles as more than getting from point A to point B and there's nothing wrong with that.
 
dmclone said:
I've lost a lot of money on cars so I guess that makes me an expert :) I still lose money on cars but now I follow two basic principals.

#1 I never buy a different car unless I have the cash to buy it outright. This may be different if I drove something that was constantly breaking down. However, I'm not going to get a loan on a car just because I don't like it.

#2 I try to buy a 2-3 year old CPO car with known reliability. I'd rather drive a $30k car with 20k miles that was once a $60k car than a brand new $30k car. Let someone else take that first big resale hit. I love hearing how everyone is leasing their cars now, it just means I have a lot of used models to choose from.
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My Subaru Forester completely decked out with heated leather, moonroof, towing package, etc. in Limited model was $30,000 and that included tax, title, license, and sales tax. Brand new.

Toyota RAV4 is similarly priced. I went the Subaru because it has an awesome all wheel drive chassis and the Boxer engine is great as well. 32 mpg. Also the Subaru had real leather rather than fake leather.

I paid for mine outright but interest rates were so cheap probably could have just financed it.

My experience with $60k cars is that maintenance and repair costs are astronomical. I would rather have my Subaru than an expensive Lexus. I have generally used the strategy of buying 1 or 2 year old cars but it seems with rebates and incentives now that you can damn near get a new car for not much more than used.
 
Stormin said:
My experience with $60k cars is that maintenance and repair costs are astronomical. I would rather have my Subaru than an expensive Lexus. I have generally used the strategy of buying 1 or 2 year old cars but it seems with rebates and incentives now that you can damn near get a new car for not much more than used.
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Rebates and incentives are not going to take $30k off the price of a car. I like Subaru's as well but I think I'd rather drive something like a Lexus GS350, Volvo XC90, Honda Pilot, etc. over an Forester but that's probably just me.

I've never owned a high mileage luxury car that wasn't under warranty but besides my yearly license fee, which is stupid expensive, my costs have been similar to a Honda Accord. In 3 years of ownership the only expense I've had has been a windshield and brake pads. If you're going to drive a car into the ground, I agree that they could become expensive if something ever does break.
 
dmclone said:
I've lost a lot of money on cars so I guess that makes me an expert :) I still lose money on cars but now I follow two basic principals.

#1 I never buy a different car unless I have the cash to buy it outright. This may be different if I drove something that was constantly breaking down. However, I'm not going to get a loan on a car just because I don't like it.

#2 I try to buy a 2-3 year old CPO car with known reliability. I'd rather drive a $30k car with 20k miles that was once a $60k car than a brand new $30k car. Let someone else take that first big resale hit. I love hearing how everyone is leasing their cars now, it just means I have a lot of used models to choose from.
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This is what I normally do. You get a lot nicer vehicle without the upfront cost. This last time however, after figuring in cost per mile (up to 100k miles) it was cheaper to buy the new car with the top options. We did get a pretty good deal though.

I'm not sure the used car market has gone back down since the cash for clunkers deal several years ago.

It sounds like your wife really wants a small SUV, but for the limited driving she does the Chevy Volt may be a better choice. You would have almost a $0 gas bill.
 
dmclone said:
I've lost a lot of money on cars so I guess that makes me an expert :) I still lose money on cars but now I follow two basic principals.

#1 I never buy a different car unless I have the cash to buy it outright. This may be different if I drove something that was constantly breaking down. However, I'm not going to get a loan on a car just because I don't like it.

#2 I try to buy a 2-3 year old CPO car with known reliability. I'd rather drive a $30k car with 20k miles that was once a $60k car than a brand new $30k car. Let someone else take that first big resale hit. I love hearing how everyone is leasing their cars now, it just means I have a lot of used models to choose from.
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Tip #2 has saved me close to $50k in the last decade. It's still almost as good as brand new, and with CPO, you get good warranties.
 
Cyclonepride said:
Mitsubishi Outlander Sport.
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Also consider depreciation rate. Some cars will hold their value better over two years compared to others.

Offense intended....I don't think Mitsu's hold their value. Her not liking it means plenty of others won't like it. I'd send it down the road and start putting your money in to something better.
 
BillBrasky4Cy said:
4 year old car with roughly 20,000 on it and you owe right around $5,000? Pay that loan off and drive that **** box until its falling apart! Vehicles are one of the worst things people tie money to. No car payment for several years is the way to go.
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This is great advice if (and that's a huge if) you can find a car that won't start costing you a car payment in repairs every month. I mean it sounds great until you realize car makers aren't designing cars to go 200k miles.

Reliability also plays a major role. I have way more confidence in a car with 20k miles on it as opposed to 150k miles when I'm driving my kids around.
 
mtowncyclone13 said:
i debated a new car for over a year and kept making spreadsheets and crunching numbers. finally i saw a car i wanted and pulled the trigger - it wasn't even a questions because i knew this was the one i wanted. point is all the planning i did didn't matter once i saw the right car.

what is the blue book value of your car? can you sell it private party and get more? if you'll walk away with more than you owe decide how much of your savings you can put down for the new car and add the resale cash into the down payment. we all know you're getting a new car - it's just how long will it take for you to pull the trigger?
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Are you kidding me? Planning and budgeting is absolutely important and should be a factor in your decisions. That fact that's it doesn't in yours just says you have no discipline.
 
Stormin said:
My Subaru Forester completely decked out with heated leather, moonroof, towing package, etc. in Limited model was $30,000 and that included tax, title, license, and sales tax. Brand new.

Toyota RAV4 is similarly priced. I went the Subaru because it has an awesome all wheel drive chassis and the Boxer engine is great as well. 32 mpg. Also the Subaru had real leather rather than fake leather.

I paid for mine outright but interest rates were so cheap probably could have just financed it.

My experience with $60k cars is that maintenance and repair costs are astronomical. I would rather have my Subaru than an expensive Lexus. I have generally used the strategy of buying 1 or 2 year old cars but it seems with rebates and incentives now that you can damn near get a new car for not much more than used.
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This is all interested but ultimately useless until you tell us what COLOR the car is! :rolleyes:

Partial credit cause boxer engine of course. ;)
 
Cyclonefan710 said:
Are you kidding me? Planning and budgeting is absolutely important and should be a factor in your decisions. That fact that's it doesn't in yours just says you have no discipline.
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********, color is most important. Everybody knows that (or will after I spread the gospel of car color).
 
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