Author Topic: trade in our car?  (Read 1225 times)

ihatecars

  • 5 O'Clock Shadow
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trade in our car?
« on: October 12, 2013, 08:43:32 PM »
Hello,
Last year, my husband and I found ourselves needing a new car and proceeded to make a pretty bad choice in our purchase. We bought a new accord (this was pre mustache). We got a decent deal on the accord due to dealership mistake/lies, but it was still way more than we should have spent. We currently owe $20,000 and I am pretty sure we can sell the car without writing a check but we will still have to get another car. We both absolutely have to commute. We hope to change that one day, but, as things are now we absolutely have to have 2 cars. So, if we can get out of our original bad decision, what would you recommend? Unfortunately, we only have enough in savings for emergencies so we will have to take out a loan on whatever we buy or lease. What are your thoughts on lease? Here is some more information on what we currently owe on our car.

monthly payment: $350
interest rate: 3.49%
amount owed: $20,000