Quote:
Originally Posted by Baldie559
YOu make a great point and you explained it very clearly. I think keeping it would be the best way. Just out of curiousity what if I chose to go with a car valued at less then the blue book?
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If you chose to go with a car valued at less than the blue book, you would still owe more on the new vehicle than it is worth---#1 the blue book is just a guide and #2 if it is worth less than blue book today chances are that it will always be worth less than blue book.
Why must you trade vehicles at this time rather than paying your present loan down a bit or paying on it til it's paid off. I realize the bit about putting miles on the present vehicle but you're going to do the same thing on a different vehicle as well. The only way to get anywhere in this world is to use credit sparingly and save save save (even though it is hard to do when one sees the pretty automobile, boat, suit, stereo etc (take your pick). To give you an idea of what I am talking about, I still drive a 1995 Taurus that I bought in 1995 (used) and will probably continue driving this vehicle for a long time even though I could easily pay cash for a different one.