Should I get a new car or keep the one I have?

A little background:

I have a 2013 Ford Fusion w/ almost 60k miles. I commute 45 minutes to work everyday, and my job requires me to drive, as well, so I've racked up some miles in 2 years.

I pay $450 each month on a car loan and have about $14k left to pay on it. The car is worth $11.5-12.1k.

By the end of the year, I'm sure I will have 80k miles on it.

I'm thinking of getting a 2015 Chevy Trax. The payment will be lower each month, too. Should I trade the Fusion in and get the Trax or finish paying off the Fusion and keep it?

The car payment is something not as important as reliability. Using a vehicle for commercial purposes involved tax consideration, who pays the bills as to fuel and mileage, etc. Only an accountant can inform you of the advantages over a car payment. The issue is that the car needs to be working with minimum service and risk of repairs. I know the Ford Fusion has an excellent reputation. The Ford Fusion hybrid has equally an excellent reputation, albeit a higher price, with superb fuel economy. The car payment issue may be the determining factor. I know little of the Chevy Trax as to reliability or service needs. The depreciation scale is steep the first three years of a car's life. The service needs increase as the car racks up the miles. All of these factors depend on employee paying for expenses and how the tax return is completed. In a generic answer, a vehicle for business should not be a monthly payment factor only but also a vehicle for business needs to be reliable. In absence of further data points the answer is to see about a commercial lease option as no matter the tax benefits may be higher and then lease for one or two years. Best of luck.

Why not get the new one. After all you are very good at losing money.according to you you have 60.000 on clock and another 30 months at least before its paid off… By then the mileage will be circa 140.000.won't be worth very much. But you will have spent 27.000 on car… Now you want to buy a new one.that's another 10 grand down the drain in a year what with payments and depreciation… Bon chance

You will already be 3000 down on the deal if you trade in the Fusion.

Depends on your fuel and operations costs as well. If it's cheaper to maintain and operate a newer car, I'd trade your current car in while it still has some value, unless the dealer is not giving you a good deal to pay it off for you in the trade, then you're stuck with it as it doesn't make sense to take such a big hit either.