I've got a 2004 Honda Accord; 45,000 miles and 4 years left on a six year loan at 5.25%. I drive about as much as I have in the past, so I should have about 100,000 miles on the car by the time I pay off the loan. I now have the Ford X plan available to me, and I like the Fusion, not only because it's a sharp car but because it's an American car.
Should I sell the Honda and get a cheaper Fusion (at a possibly higher interest rate) or drive the Honda into the ground past 100,000 and hope to enjoy at least a few years without a car payment?
2007-01-07 15:00:38 · 18 answers · asked by Tr0nik 2 in Cars & Transportation ➔ Buying & Selling
Plates and Insurance will be cheaper on the Honda. It is almost paid for. you have a good loan, and service on a Honda isn't much till after 120,000 miles.
Get the Accord cleaned and detailed for about $100, it will seem brand new.
Buying a new car every 8 years instead of every 3 will save you almost enough money to buy a house. Just take car of the car.
2007-01-07 15:09:10 · answer #1 · answered by Rockies VM 6 · 0⤊ 0⤋
Absolutely keep the Honda.
The Fusion has poor safety ratings and it is just a poorer quality car overall. The Honda Accord has the LOWEST depreciation of any car you can buy, that is, it retains more of it's value than anything else. Keep it for sure. The Ford is a nightmare of unreliability and crap quality and a 2007 Ford Fusion will probably wind up being worth the same or LESS than the Honda when you are ready to sell.
A Honda Accord is not even close to being "driven into the ground" at 100,000. Accords with 150,000-200,000 miles and running well are fairly common. As long as it is maintained properly and not abused you could drive that Accord for another 5-6+ years easily.
2007-01-07 15:32:28 · answer #2 · answered by Anonymous · 0⤊ 1⤋
Im a Ford guy but i would say Keep your Honda. Reason why? If you trade in a car that you still owe money on most of the time you will get taken to the cleaners. Youve got quite a bit of miles on that Honda already for just two years old so they would count that against you on your trade value as well. Considering that you said you still owe 4 more years on the loan you probably still owe more than the car is worth to them. chances are they wouldnt pay off your Honda all the way - the remaining amount would be tacked onto the new cars loan. Just keep the Honda for a couple more years, and maybe try to make double payments on it to get it paid off quicker. after you get it paid off then consider buying a new car if you still want one.
2007-01-07 16:00:41 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Yes you should!! You are the one that told me the answer. You don't want to "drive the Honda into the ground" ..........me neither!!
Plus you "like the Fusion" because "it's a sharp car and American"!! Go for it. Life is short. Your worry is the 6 year loan on the Fusion. Life is full of car payments. Always remember: A bus is waiting somewhere to run over you in a crosswalk as you go across the street to get lunch!! GO FOR THE GUSTO!!
Good Luck!! @8=)
2007-01-07 15:28:05 · answer #4 · answered by Dovey 7 · 0⤊ 0⤋
Keep the car if you want to save $$$. With regular upkeeping of maintenance, you should have little problems with the car, get past 100K by time you paid off, and then keep it for a few more years a forget about the monthly payments. Then again, if money is not the real issue and you like something new/fancy, buy the Fusion..
2007-01-07 19:04:10 · answer #5 · answered by JNC 2 · 0⤊ 0⤋
Keep the Accord, it's more American than the Fusion! The Fusion is built in Mexico, while the Accord is built here in Marysville, Ohio employing 13,000 American workers at 4 plants in the state. Plus the Accord is one of the most reliable cars out there, provided the maintenance is kept up.
2007-01-07 17:08:58 · answer #6 · answered by jim j 3 · 0⤊ 0⤋
I don't think you should sell your Honda. It will have a much higher resale value when you do decide to trade it in or sell it than the ford would. Also check out the service bulletins for the 2 cars but keep in mind that newer cars will have less service bulletins because they haven't been on the road long enough for anything to go wrong. Also compare the two cars to see which is better for you such as which car gets better mileage, has more room, more power.
Here are a few websites that will help you:
http://www-odi.nhtsa.dot.gov/cars/problems/tsb/tsbsearch.cfm
http://www.edmunds.com/apps/nvc/edmunds/VehicleComparison
2007-01-07 15:12:33 · answer #7 · answered by Megan B 2 · 0⤊ 0⤋
Keep the Honda. I had a Honda Civic for 15 years that had well over 100,000 miles on it when it finally died. It was the best car I ever had. Hondas are die hards.
2007-01-08 14:42:20 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Keep the Honda and the cheaper interest rate. Maintain it properly and it'll likely last well past 100,000 miles. If you get into the fierce "trading" race...you'll never be without car payments!
2007-01-08 01:45:42 · answer #9 · answered by Shelly B 5 · 0⤊ 0⤋
Keep the Honda, when it is payed off at 100,000 it will still have more value than a Ford with 50,000.
I worked at a courier company, we had Geo's and Honda's with 300,000 after 3 years that still ran routes every day.
M
2007-01-07 16:27:50 · answer #10 · answered by MIKEWAAK 3 · 0⤊ 0⤋