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trade in car or sink money into it...
Posted on 10/25/14 at 10:29 am
Posted on 10/25/14 at 10:29 am
not sure which route to go:
have an 07 suburban with 110k miles. Needs about 1500 worth of work. pay it off in one year and owe 4000. trade in value of it is 12k.
can't decide if i should sink the money into it or use the equity in it to find a 2010/2011 with low mileage and keep the note.
have an 07 suburban with 110k miles. Needs about 1500 worth of work. pay it off in one year and owe 4000. trade in value of it is 12k.
can't decide if i should sink the money into it or use the equity in it to find a 2010/2011 with low mileage and keep the note.
12
Posted on 10/25/14 at 10:33 am to mandevilletiger34
2007 was not a great year for GM qulity-wise, although the drivetrains are pretty solid.
$1500 is not a ton to put in a vehicle with 110K. If you're pretty happy with the thing overall and thers no accident history, I'd probably keep driving it.
In decent shape, it will always be worth $10K.
$1500 is not a ton to put in a vehicle with 110K. If you're pretty happy with the thing overall and thers no accident history, I'd probably keep driving it.
In decent shape, it will always be worth $10K.
Posted on 10/25/14 at 10:50 am to mandevilletiger34
Fix it, a wise old man correctly told me a long time ago that every time you change cars, you lose money. Try to wisely minimize the number of times you do this. It sounds like that this is what you are thinking.
Good luck.
Good luck.
Posted on 10/25/14 at 10:54 am to mandevilletiger34
$1500 is not a lot of money to put into a Suburban. If you have no other reason to get rid of it, keep it.
Don't expect $10k after another year though.
Don't expect $10k after another year though.
Posted on 10/25/14 at 11:07 am to mandevilletiger34
In 3 years and another 45k miles if in fair to good condition cosmetically and mechanically it'll probably be worth $8000-$8500. I would keep it imho. Depends on what the $1500 repair is fixing.
Posted on 10/25/14 at 11:11 am to mandevilletiger34
quote:
07
Why do you still have a car note on a 2007 model?
Posted on 10/25/14 at 11:37 am to mandevilletiger34
Sold my 05 Tahoe Z71 with 150k about 6 months ago on CL for $9500. I'd keep your shite and private party it later down the line
Posted on 10/25/14 at 11:49 am to mandevilletiger34
What's the 1500 for? If it's brakes/plugs/fluid changes, do all that shite yourself and keep the money in your pocket and keep the car
Posted on 10/25/14 at 11:53 am to mandevilletiger34
If you want to drive a Suburban, keep it for a bit longer. Cost of ownership + depreciation is still less than a newer one at this point.
Your best bet is actually to dump it and buy a reasonably sized vehicle that save that $1500 in a year by not gulping down gas. Unless you have 10 kids or something.
Your best bet is actually to dump it and buy a reasonably sized vehicle that save that $1500 in a year by not gulping down gas. Unless you have 10 kids or something.
Posted on 10/25/14 at 11:57 am to mandevilletiger34
$1500 is not that bad. Generally $3k is my cut off. If it needs an engine or a tranny I can't rebuild. Then it gets cut up for parts/ scrap.
Had a nice Fox body Mustang. After I killed it again I took out my anger with a sawszall.
Had a nice Fox body Mustang. After I killed it again I took out my anger with a sawszall.
This post was edited on 10/25/14 at 11:58 am
Posted on 10/25/14 at 12:02 pm to mandevilletiger34
I had an 07 Suburban (paid off though) and last year I swapped it straight up at a used car dealership for a '12 Toyota Yaris. Huge gas guzzling car down to a tiny gas saver. Best deal I ever made.
Posted on 10/25/14 at 12:08 pm to mandevilletiger34
This is not the same thing but I paid to have the transmission rebuilt in my 2005 Altima earlier this year. I paid about $4000.00 but the car gave me virtually no problems before that so I sunk the money into it even though it was only worth $7000.
It would have probably worked out for me had I not totaled it in an accident a few months later. It was very minor damage but the value of the car is what totaled the vehicle.
My only point is planning on the unexpected should factor in as well. Will you waste your money if something else happens to your vehicle - a major breakdown, accident, etc.
Since your car is worth $12k on a trade in you are probably fine fixing it.
It would have probably worked out for me had I not totaled it in an accident a few months later. It was very minor damage but the value of the car is what totaled the vehicle.
My only point is planning on the unexpected should factor in as well. Will you waste your money if something else happens to your vehicle - a major breakdown, accident, etc.
Since your car is worth $12k on a trade in you are probably fine fixing it.
Posted on 10/26/14 at 8:31 am to mandevilletiger34
TRADE IT IN!!! You'll thank me later!
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