Author Topic: Sell or trade car?  (Read 1178 times)

Ceichanski

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Sell or trade car?
« on: August 11, 2016, 07:58:33 PM »
Deleted original message. Felt it was longer than needed.

Would you sell a car you do not really like or trade for another if possible?

Car is a manual with only 22700 miles that is worth $11875. Or trade for a truck worth $13200 with 140k miles. The car is in Excellent condition, and the truck in great condition with lots of extras.

The car is depreciating rather quickly and will be worth far less than the truck in the next couple years. On the other hand it gets nearly 2.5 times the gas mileage.

Live in Alaska with large critters and other large vehicles. We are buying a house next year, and we feel it would be nice to have a truck. However, we're unsure how we feel about this.

Does it make sense to trade? Probably break even money wise for the next couple years, but any more time after that the car will begin to depreciate even further while the truck carries a premium in my state.

Thoughts?
« Last Edit: August 11, 2016, 10:32:26 PM by Ceichanski »

gooki

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Re: Sell or trade car?
« Reply #1 on: August 12, 2016, 02:41:21 AM »
Doesn't sound like you need a truck. 

If you don't like your current car and are looking to save dollars, sell it and buy something cheaper. You should be able to pickup a nice used car with 140k miles for $3k, leaving $8,000 to go towards a house down payment or investment.

Ceichanski

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Re: Sell or trade car?
« Reply #2 on: August 12, 2016, 12:33:37 PM »
Was trying to look at long term value. Only real reason we need a truck is for our house next year, we plan to make many Home Depot runs, and we wanted to purchase a side by side. We love exploring, and my wife is unable to hike like she used to.


frugaliknowit

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Re: Sell or trade car?
« Reply #3 on: August 12, 2016, 02:01:07 PM »
Long term, there is only depreciation.

Have you considered having Home Depot Deliver (cheaper than owning a truck for that purpose...)?

Ceichanski

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Re: Sell or trade car?
« Reply #4 on: August 12, 2016, 02:26:31 PM »
Long term, there is only depreciation.

Have you considered having Home Depot Deliver (cheaper than owning a truck for that purpose...)?

Good idea, forgot they even do that.

Also, the car is less than two years old and has lost 45% in value, which is a lot for any vehicle. The truck is 10 years old and only dropped 75% of initial value. However, similar cars to mine that are now five years of age have lost 75% already.