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Message
when's the best time to trade in your vehicle?
Posted on 1/24/17 at 9:46 pm
Posted on 1/24/17 at 9:46 pm
3 scenarios:
A. the second your loan balance gets low enough for a decent trade-in and the value of your car is still relatively high
2. when you vehicle is paid off. you get the full equity in your car, but it's probably gone down significantly in value during the last few years of ownership
D. a few years after it's paid off. you wont get jack for the trade-in but you get a few years of no notes.
A. the second your loan balance gets low enough for a decent trade-in and the value of your car is still relatively high
2. when you vehicle is paid off. you get the full equity in your car, but it's probably gone down significantly in value during the last few years of ownership
D. a few years after it's paid off. you wont get jack for the trade-in but you get a few years of no notes.
22
Posted on 1/24/17 at 9:48 pm to Honky Lips
C. At about tree-fiddy...
Posted on 1/24/17 at 9:48 pm to Honky Lips
Right now if it's a paid off truck and low or reasonable miles.
Posted on 1/24/17 at 9:49 pm to Honky Lips
When it's not on fire
Posted on 1/24/17 at 9:51 pm to Honky Lips
During cash for clunkers.
Posted on 1/24/17 at 9:53 pm to Honky Lips
quote:
D. a few years after it's paid off. you wont get jack for the trade-in but you get a few years of no notes.
I drove my trailblazer til it finally died at 180,000 miles
The seven years of not having a note were awesome
Posted on 1/24/17 at 9:57 pm to Honky Lips
After work just before happy hour.
Posted on 1/24/17 at 10:01 pm to Honky Lips
8:00
Posted on 1/24/17 at 10:04 pm to Honky Lips
Get a Yote and drive it forever.
Posted on 1/24/17 at 10:04 pm to Ash Williams
quote:
The seven years of not having a note were awesome
I am on 8 years
This post was edited on 1/25/17 at 7:34 am
Posted on 1/24/17 at 10:07 pm to Mulat
Got one more year of car payments. Bought my car sophomore year of college. Drove to LSU and back for school, downtown and back for work.
Gonna have around 35,000 miles when I pay it off. Projected to be worth around what I paid for it
Gonna have around 35,000 miles when I pay it off. Projected to be worth around what I paid for it
Posted on 1/24/17 at 10:24 pm to Honky Lips
When the cost of repairs outweighs the value of having the money in the bank.
Posted on 1/24/17 at 10:24 pm to baseballmind1212
Wrong....automobiles are NOT assets !
I think you need to stay in school longer and concentrate on basic economics...lol
I think you need to stay in school longer and concentrate on basic economics...lol
Posted on 1/24/17 at 10:27 pm to Honky Lips
quote:
3 scenarios:
A.
2.
D.
I'll go with ?
Posted on 1/24/17 at 10:28 pm to tickfawtiger
I have never had a car note in my life. I have paid in full for every vehicle since my first at 17. It was a piece of shite but it gave me three years and that was enough to parlay into gradually better vehicles.
Posted on 1/24/17 at 10:29 pm to Honky Lips
quote:
D. a few years after it's paid off. you wont get jack for the trade-in but you get a few years of no notes.
Those years without notes will be more cash in your pocket than the other two scenarios combined.
Posted on 1/24/17 at 10:30 pm to Martini
quote:
I have never had a car note in my life. I have paid in full for every vehicle since my first at 17. It was a piece of shite but it gave me three years and that was enough to parlay into gradually better vehicles.
Congratulations on disciplined saving but otherwise poor financial acumen given the historically low interest rates of the past 5+ years.
Posted on 1/24/17 at 10:31 pm to Honky Lips
best time to get rid of a vehicle is when it becomes undependable....if it is still dependable at 15 years old, you keep driving it.
Posted on 1/24/17 at 10:33 pm to slackster
I've only borrowed money 3 times in my lifetime and as of 2005 have not owed anyone anything.
I'll take my decade or so of poor financial acumen over low interest rates anytime.
I'll take my decade or so of poor financial acumen over low interest rates anytime.
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