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Started By
Message
Vehicle Buy - sell or not? Dave Ramsey - cash MB Opines Pl
Posted on 4/12/11 at 7:57 pm
Posted on 4/12/11 at 7:57 pm
Would love some opinions here....own 3 vehicles, only 1 note. Want to be without a note.....
Wife has 2006 z71 tahoe that "books" about $16k. Has 110k miles on it. Pretty sure I could atleast get 14500 for it. We owe 8200.
I have the cash to pay it off......but am debating about sellin t and adding 5-6k to buy a Toyota/Lexus/Acura/Honda with cash. I'm my experiences, those vehicles are longer lasting for high mileage.
Nothing wrong with the Tahoe.......
Pay it off and drive it..... Or sell it and buy a vehicle better suited for high mileage?
Disclaimer: I have owned a 2004 camry 252k miles, 2001 Avalon 190k miles, and currently have an Acura mdx 135k miles. Very little repair and they were strong when sold. Had Chevys and fords not make past 150k w/o major issues. Been a chevy man most my life..... And will be again when they catch up.
Reasonings to why u suggest plz......gas is a small consideration.......
Wife has 2006 z71 tahoe that "books" about $16k. Has 110k miles on it. Pretty sure I could atleast get 14500 for it. We owe 8200.
I have the cash to pay it off......but am debating about sellin t and adding 5-6k to buy a Toyota/Lexus/Acura/Honda with cash. I'm my experiences, those vehicles are longer lasting for high mileage.
Nothing wrong with the Tahoe.......
Pay it off and drive it..... Or sell it and buy a vehicle better suited for high mileage?
Disclaimer: I have owned a 2004 camry 252k miles, 2001 Avalon 190k miles, and currently have an Acura mdx 135k miles. Very little repair and they were strong when sold. Had Chevys and fords not make past 150k w/o major issues. Been a chevy man most my life..... And will be again when they catch up.
Reasonings to why u suggest plz......gas is a small consideration.......
8
Posted on 4/12/11 at 8:09 pm to bossflossjr
Dave says cut your credit cards and don't be a moron
Posted on 4/12/11 at 8:13 pm to bossflossjr
If you and the wife are the only drivers why do you have 3 vehicles? I'd consider going down to 2 sell extra vehicle. Only pay insurance, maintenance on 2.
Having a paid for car gives a person a lot of flexibility in their monthly budget.
It really depends on what you'd trade-in the Tahoe for. How much would it cost? How long you'd keep it? How many miles do you drive it? What would be your savings having a more fuel efficient car?
All other things equal, when gas prices go up, truck prices go down.
Having a paid for car gives a person a lot of flexibility in their monthly budget.
It really depends on what you'd trade-in the Tahoe for. How much would it cost? How long you'd keep it? How many miles do you drive it? What would be your savings having a more fuel efficient car?
All other things equal, when gas prices go up, truck prices go down.
Posted on 4/12/11 at 9:28 pm to bossflossjr
quote:
I have owned a 2004 camry 252k miles, 2001 Avalon 190k miles, and currently have an Acura mdx 135k miles.
I would go with the replacement plan, my experience with Honda/Toyota vs Ford/Chevy/Dodge has been the same. Spoke to ex-wife today, she has 236K on a Honda Oddessy, which I purchased new, no repairs other than brakes, engine belts and hoses.
Posted on 4/12/11 at 9:53 pm to bossflossjr
There's a very important missing part here - what is the interest rate you're paying on the note?
Posted on 4/12/11 at 10:48 pm to foshizzle
quote:
Toyota/Lexus/Acura/Honda
Do these models really last significantly longer than the Chevy? Plenty of 300k+ Tahoes out there.
Personally I would pay off and keep the Tahoe. You know the vehicle is solid and you know the maintenance history on it.
Although, I could see gas mileage being a motivation.
Posted on 4/12/11 at 11:22 pm to bossflossjr
My 03 Tahoe has 164K on it and the only problem I've had is replacing the ac compressor.
Posted on 4/12/11 at 11:38 pm to bossflossjr
Toyota and Honda are the highest quality construction and engineering. The Koreans are closing the gap. Cars never go up in value, so do not carry a note if you don't have to. Otherwise, you're paying interest on an asset that is sure to decline in value.
Posted on 4/13/11 at 6:13 am to kaaj24
quote:
If you and the wife are the only drivers why do you have 3 vehicles?
Son at LSU - paid cash for his vehicle.
Posted on 4/13/11 at 6:16 am to foshizzle
quote:
what is the interest rate you're paying on the note?
4.5%
Doesnt matter tho, I want to free up that $425/month to invest.
Posted on 4/13/11 at 8:41 am to bossflossjr
quote:
z71 tahoe
Do you have a need for this size vehicle?
Posted on 4/13/11 at 10:32 am to Chad504boy
Chad makes a good point -- if you don't need a Tahoe for business/personal reasons, get out of the note and get something smaller.
Also if you do want a Camry/Accord size vehicle (as opposed to an even smaller Corolla/Civic size), try finding one that's 1-2 years old. You may get it at a much better price and be able to do what you want -- pay cash.
Also if you do want a Camry/Accord size vehicle (as opposed to an even smaller Corolla/Civic size), try finding one that's 1-2 years old. You may get it at a much better price and be able to do what you want -- pay cash.
Posted on 4/13/11 at 2:15 pm to bossflossjr
Usually cheaper to keep the old car.
Tahoes are great trucks (definately GM's core competency)...if it has given no indication of being a lemon, then you should hang on to it. I doubt that keeing the Tahoe running for another 100K miles will come close to the additional $5K or more that newer car could cost.
Any car at 150,000 miles or more will require some work- and that is coming from someone who as driven both GM and Toyota products pretty regularly. $5 grand could cover pretty much anything major that could go wrong on a Tahoe.
Tahoes are great trucks (definately GM's core competency)...if it has given no indication of being a lemon, then you should hang on to it. I doubt that keeing the Tahoe running for another 100K miles will come close to the additional $5K or more that newer car could cost.
Any car at 150,000 miles or more will require some work- and that is coming from someone who as driven both GM and Toyota products pretty regularly. $5 grand could cover pretty much anything major that could go wrong on a Tahoe.
This post was edited on 4/13/11 at 2:46 pm
Posted on 4/13/11 at 5:06 pm to uzzy
'04 Tahoe 231k, no problems don't sell it..to me its the best vehicle I've ever owned
Posted on 4/13/11 at 9:16 pm to LawLessTyGer
Toyota WAS the high quality vehicle- you keeping up with all the recalls?????
Honda and Nissan are still solid-
Honda and Nissan are still solid-
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