Trade in or keep?

[Echo 1]

Use to build cars if you have one that has been good no fits or recalls,issues then I would keep it.The **** the big 3 are making these days just isn't up to par.I had a 2012 z71 transmission **** the bed blew its guts out 33,000 miles.Traded it in didn't want it back got a 2014 z71 already has recalls and I can feel/hear the Transmission cramming itself when it downshifts.

 

[Cadcom]

Right, you don't know me!! I buy cars that need repaired, for cash! I don't drive a fancy car! I drive a 2006 Chev aveo,($750) I bought that needed a motor. You drive what you can afford, it's your kind of mind frame that keeps folks in debt. I have no debt other than my house, that I owe about 100K on that's worth, $500K. Read Dave Ramsey and Bruce Williiams. debt is for fools

Smart move. I have a 2000 GMC pick up and a 2004 Yukon. Both bought new and both over 200,000 miles. It has been much cheaper to fix as needed than to jump back into long term debt.

 

[woodstock]

Hey Im not rich by any stretch. I save money by keeping a vehicle a long time and saving money along the way. If I cant pay cash Im not buying it, except for a house or an unusual situation.

I find it funny the comment, "I pay cash for everything". You don't have to rub your wonderful financial situation in someones face who is not able to do the same thing at this point in his life. Go look in the mirror and brag to yourself, because that's not the financial situation the OP is currently in. If he did have the ability to pay cash, he would.

 

[cornfed1]

I drive an 89 civic to work and back every day...it has a 10 gallon tank and the way gas is going up i love it. I don't care if anyone dings it with their door. I'd rather drive a big truck but don't want to pay that gas. If you don't use the truck then dont spend money you don't need too

 

[aloo1]

Some credit unions will do refi promos that keep your existing term left on the loan and drop your current rate by2% so it doesn't extend your loan just lowers your rate. Look into that. Do the math and figure out what your savings on gas per year would be by trading car and then determine what the resale of new car will be when paid off to see if it holds value...if its a car that devalues quickly and resale will be awful then I would. Also trucks are so useful. So if the savings are not enough to justify losing the versility of the truck than pass.

 

[Tony2X]

Suppose to be buying a new car on Monday after work (nothing signed yet), but am starting to have second thoughts. I currently drive a 06 ford f150 extended cab and have just over 90k. About 2 1/2 to 3 yrs left to pay on it with $7900 left on the loan. Never had anything wrong with it, but needs need brakes this month. Is it worth trading it in for a smaller car with better gas mileage. The car I'm looking at has just over 51k and is in great condition. My mechanic checked it out and all it needs is some rear brake pads. The finance part is around $260 for 60 months (wanted 48 months $305) which i'll pay more every month ($300) just wanted something comfortable i could pay easily. As of right now i only drive less than 15k a year maybe less. Interest rate is a little better on the car than truck but haven't tried refinancing it yet and insurance wise about the same too. Single and no kids if that matters, so is it worth it to get the car or keep the truck?

How much did they say they will give you for the truck?

 

[BIKER13]

Cant imagine not having a truck.Been buying trucks since 1973

 

[letusbuyyourcar]

As we discussed last week, your truck holds more value than most used cars. I would add some extra money toward each payment to go toward the principle and get it paid off sooner. If you just need a daily driver MPG car I'd pick up an older Sentra, Corolla or a Hyundai in the $2500 range. There is a lot to be said for being done with car payments.

 

[2001SportTJ]

I'm trying to decide whether or not to keep my Jeep that gets 12MPG or get a newer commuter car that gets 30+ MPG. It's been nice driving this 2014 Civic this week while my Jeep is in the shop. Put $30 in the tank on Monday and drove on it all week. I put $30 in the tank in my Jeep and it laughs at me...I've also considered just getting an older 4 cylinder to use as a commuter car and keeping my Jeep but if I did that I would have double the insurance payments and double the maintenance so I'm not sure how much I'd really be saving.

 

[Huffdaddy]

If you get rid of your truck you will regret it . Every man needs at least one truck.