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I have a 2002 Toyota that I absolutely love. My husband wants me to consider selling it now so we can have some equity to get a new car with. I've only had it for 4 years, it's paid off, and I just love it. I'm afraid we'll just get in this endless cycle of only have a car for 3 years... I guess that's normal, right?

I just thought I would have it forever, since it is a Toyota and can last over 200,000 miles with good maintenance. I never considered trading it in. Besides, it has scratched windows and needs a new $1200 side panel, which we can't afford. He also mentioned he would be getting the new car, and giving me his. I'm not cool with that, and I told him. Anyway...

So regardless of the details I gave, what do you think about keeping a car that is paid off and works well? Keep it til it dies, or keep trading em in?

2006-08-23 15:30:49 · 10 answers · asked by Adje J 3 in Cars & Transportation Other - Cars & Transportation

10 answers

If it is running well, keep it. Keep it maintained. Don't get rid of it until you feel that for some reason you can't rely on it. This is better for the environment, better for your finances, and a better way to do things in general. Unless it gets horrible gas mileage or something like that.
Reduce, Reuse, Recycle. Use it up, wear it out.
The 3-year car replacement cycle is an idiot's game to impress the neighbors who are playing the same game.
I just bought a diesel Mercedes with 240,000 miles on it a while ago. I expect it to last a million or more with a few parts and good maintenance. Then I can join their club.

2006-08-23 15:39:09 · answer #1 · answered by auntiegrav 6 · 1 0

with the average new car in the 19k to 24k i would fix the toyota and keep it if i am to spend that chunk of money plus interest i do not want a title i want a deed. note 9yrs ago i purchased a 1979 volvo 245 wagon for 200 dollars U.S. over the yrs have put approx 1700 in repairs and 200k miles and am still driving it every day. all new cars for their price suck.[the current korean crop appears promising] just remember maintenance is the key to longevity. no trading every 3 or 4 years is not only abnormal it is downright foolish. , if you have money to throw away throw it my way.

2006-08-23 23:18:30 · answer #2 · answered by hobbabob 6 · 1 0

Keep it till it dies! Crunch the numbers on what you would be paying for the new car - the insurance - license and registration. that can be an expensive habit to get into. This way if you run into a money crunch for any unexpected reason you know that you own that car free and clear. And on the other point - you love the car - why should you give it up?

2006-08-23 22:37:18 · answer #3 · answered by Anonymous · 2 0

One of the best kept secrets that investors rarely share is limit how much you spend on items that depreciate in value. Except for a few cases, automobiles depreciate in value quite rapidly. A smart investor will purchase a used car, usually 2 to 3 years old, and drive it until the cost of a major repair exceeds its value. Take the money you are saving on car payments and put it in savings or invest it in something that appreciates in value, like a house.

2006-08-24 14:27:26 · answer #4 · answered by Anonymous · 2 0

If your vehicle is paid for and in good running condition and gets good gas mileage.. I say keep it. Take the money you would of paid for a new vehicle and place it in a savings every month so when you have to purchase another vehicle you’ll have the money. I have a 1999 Dodge Daytona that has approx 160,000 miles. I’m keeping it because it runs great.

2006-08-23 22:36:05 · answer #5 · answered by missi8301 2 · 1 0

I've never been one of those "trade every three years" types. If you like your car, keep it until the cost of fixing it is going to be more than the cost of replacing it. Don't want to burst your husbands bubble either, but you should know, a car isn't a house, you never have equity in a car.

2006-08-23 22:55:53 · answer #6 · answered by eyeque195 4 · 1 1

with fuel prices at all time high, id tell the hudband to get behind your toyota and push that idea , where the sun dont shine ,, drive the toyota forever and save money and fuel ,, they are dang good lil cars

2006-08-23 23:46:36 · answer #7 · answered by foothill4fun 3 · 1 1

keep youre paid off car and tell him kma. its paid for and its a toyota it will last forever. the body will wrout off before the drivetrain gives out as long as you maintane it.

2006-08-23 22:38:19 · answer #8 · answered by mcgraws75 2 · 1 1

I would keep it til it died. Why get rid of it, you love it and there is nothing wrong with it.
Besides, why does he get the new car?

2006-08-23 22:37:15 · answer #9 · answered by mom of 2 6 · 0 1

Listen to your husband.
Sell your old car to someone going to college.
Why would you want to drive an older car when he offers you a new car.

2006-08-23 22:37:13 · answer #10 · answered by RunSueRun 5 · 0 4

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