Should I get a new car or keep paying off my current one?
I have a 2013 Ford Fusion with about 58,000 miles on it. I commute to work everyday, and my job requires me to travel, so I've really put the miles on. The original loan amount was $25k, and I have about $14k left on it.
I was considering buying a different car and trading in my Fusion. Would that be a stupid idea? Should I just pay the car off?
I have a 2013 Ford Fusion with about 58,000 miles on it. I commute to work everyday, and my job requires me to travel, so I've really put the miles on. The original loan amount was $25k, and I have about $14k left on it.
I was considering buying a different car and trading in my Fusion. Would that be a stupid idea? Should I just pay the car off? Keep this one until you've cleared the debt. Then think about trading it. At the moment you probably owe more than what the car is worth. Trade it now and your new car is going to cost you an extra 5 grand before you driveit away. That is the road to ruin. That would depend on it's value. If trading it would add to the amount you would pay for a new car, i'd keep it. You lose thousands every time you trade. If the thing's been reliable and been good for you, keep it and pay it off before upgrading. You're halfway to getting it paid off. Keep it. You may get $14k on trade towards a new car.
That would depend on it's value. If trading it would add to the amount you would pay for a new car, i'd keep it.
You lose thousands every time you trade.
If the thing's been reliable and been good for you, keep it and pay it off before upgrading.
You're halfway to getting it paid off. Keep it.
You may get $14k on trade towards a new car.
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