is it too soon to trade in my car or should i continue to make the pmts until it is paid off?
2007-01-21 14:19:10 · 5 answers · asked by Shaun R 2 in Business & Finance ➔ Credit
Keep the car until it's paid off, then keep it for another 30 months or so while you bank the same monthly payment in a savings account.
Why? You'll be able to buy your next car for cash. The finance company won't get any more of your hard-earned dough.
No one needs a new car every two years. (Lots of people WANT one; no one needs one.) Unless you're driving 50K miles per year, a six-year-old car will do you just fine. And at that point you'll pay cash for a new one.
2007-01-21 14:43:09 · answer #1 · answered by Anonymous · 0⤊ 0⤋
1
2016-09-26 13:24:46 · answer #2 · answered by ? 3 · 0⤊ 0⤋
You probably owe more than the car is worth in trade. Whatever you do is going to be a loser. Might as well keep it for a while.
2007-01-21 14:28:23 · answer #3 · answered by John H 6 · 0⤊ 0⤋
If you can sell it to someone who will take over the payments, that would work out great.
2007-01-21 14:26:45 · answer #4 · answered by Anonymous · 0⤊ 0⤋
naaa, as long as your not upside down you can trade it in, and no harm done
2007-01-21 14:22:47 · answer #5 · answered by Anonymous · 0⤊ 0⤋