Does it make sense to sell 05 / buy 07 ?
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From: Lombard, IL
Does it make sense to sell 05 / buy 07 ?
I paid 17.8K for the 05 2 years ago. Put 4500 down. Took out a loan for 13.3K.
At this point, I could sell the car for around 13.5K. I have $8730 left to pay off.
Would it make financial sense to sell the car, take the ~$4700 leftover, and roll that into another car? It seems to me that that I am not losing much.
The only reason I am considering this is because the car has 48K miles and with the great resale value, there doesn't seem to be much downside unless I'm missing something. I'd have to make 2 more years of payments but then again the car would be 2 years newer, have warranty, etc.
At this point, I could sell the car for around 13.5K. I have $8730 left to pay off.
Would it make financial sense to sell the car, take the ~$4700 leftover, and roll that into another car? It seems to me that that I am not losing much.
The only reason I am considering this is because the car has 48K miles and with the great resale value, there doesn't seem to be much downside unless I'm missing something. I'd have to make 2 more years of payments but then again the car would be 2 years newer, have warranty, etc.
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Well, you'll obviously lose out on like $3000 by doing this though. If you really love the car then maybe. If you look at it from a money issue, it really doesn't make sense to do it because you will be out more money in the long run by reselling 2 tCs.
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Yeah, I'd be losing about $5200 in payments, true. But $2600/year isn't actually too bad, and I'm reimbursed for about 55% of the miles I drive every year.
I'd basically get a brand new car w/warranty, upgrades, new tires, brakes, etc. in exchange for 2 more years of payments.
I'd basically get a brand new car w/warranty, upgrades, new tires, brakes, etc. in exchange for 2 more years of payments.
Originally Posted by tC_kevin
if ur gonna do that u might as well get a different car. change things up a bit. theres not much point in losing all that money to get the same thing at the end.
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From: Orlando, FL
Originally Posted by lowelcam
no, it doesn't make sense, but if you do lease the '07.
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From: Gainesville/Sarasota, FL
Originally Posted by chazm
Originally Posted by lowelcam
no, it doesn't make sense, but if you do lease the '07.
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Whoa you get audio control on your steering wheel, aux jack for your mp3, tire pressure monitor. different head unit...doesnt sound like it is worth it. Why not wait after 08 end the tC run, and get a new scion generation.
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"Why not wait after 08 end the tC run, and get a new scion generation."
Because it seems like right now is the ideal time financially to do it. The value for used tC's is still higher than it probably should be.
Because it seems like right now is the ideal time financially to do it. The value for used tC's is still higher than it probably should be.
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