need input on making a decision

[ECFENCING]

I could keep my 98 volvo wagon or use it as a trade in for my wife's new car a 2009 subaru forrester or I could keep her 2003 subaru forrester and trade in the wagon. The difference if I keep the volvo wagon and trade in the 2003 subaru is about $160 in monthly payments.

I'm just thinking about all the extra money I could put into the fish tank instead or whatever else I decide to do with it........

I take a train into the city so I really don't need a very reliable car....On the flip side the volvo is a gas guzzler getting 18mpg around town and 22mpg on the highway plus it's very expensive to maintain...

 

[Davidl919]

I would keep the 2003 and I could never trade in a car. I would rather sell it as-is for $500-$1000 more than the dealer is offering ( why let them make that profit). Just My opinion. Good Luck whatever your choice. Night.

 

[ECFENCING]

davidl919:

Thanks for the input. Yeah you're right about trading it in. I would rather sell the car on my own as well.

Personally I could wait but I was told that the lease deal on the 2009 forrester is up in June. Don't think it's that great of a deal.....but you know how dealers are and the Mrs. likes that car only.

The subaru has been faithfully maintained with all of the scheduled miles and it has only 55,000 miles on it with a dealer trade in value that is 8,300. The volvo on the other hand has 96,000 miles with a dealer trade in value of 3,600.

The way I'm looking at is a follows:

Trade in subaru---extra cash flow per month is 160 so I would have at the end of her lease a 13 year old car probably worth about 2,500 so in total that would be at the end of her 3 yr lease term about $5,760 extra in cash flow for a total of $8,260 if I decide to sell it and buy something else. But maintenance would be about $1,300 more.....needs new tires, new seal for rear oil pan leak very expensive on labor and new brakes. So back out $1,260 to make it even and the net cash flow would be about $7,000 if I decide to get a newer car.

Trade in the volvo and no extra cash flow since the payments would be the same as her old car loan but I would have a car in three years that is probably worth about $6,000 -$6,500 and about $500 in maintenance costs so net cash flow would be about $5,500 to $6,000 if I decide to sell it and buy something newer.

If I had to drive a car to work every day it would make the decision much easier....I only drive 3,500 miles per year at most.

 

[ECFENCING]

Davidl919:

Your post actually helped me think about this a different way. I researched prices and the dealers are going to make at least a $3k -$5k profit on her 2003 subaru. Dealer prices for the 2003 forrester same model are at $11k-$13k with the $11k for higher miles and less features and $13k with more features and less miles.....I was shocked....

They won't make as much off of the 98.............and I think it might be more difficult to sell with the higher miles on my own.....

If only I could convince the Mrs....to keep the 2003 subaru but that's wishful thinking...

 

[bad coffee]

you take the 2003, buy her the new one.

 

[NYreefNoob]

They Wont Even Keep The 98 It Will Go To A Auction, Dealerships Dont Keep Older Cars To Sell, As For What They Make Doesnt Always Turn Out To Be As Much As You Think, They Do A Complete Check On The Car Abnd Replace Anything That Needs To Be Replaced, So You Could Have Parts And Labor There, As Well As The Time They Sit On The Car And If It Doesnt Sell They Have Interest In The Money They Gave For The Car, And After A Month Or 2 It Would End Up Going To A Auction Anyways. A 03 Isnt Worth Anything To A Dealer Anyways, We Dont Have Anything On Our Lot That Old, { I Work For A Dealership } Best Bet List It On Craigslist

 

[wxl14]

I would trade in the volvo for the simple fact its older. If a part goes bad on it I am pretty sure its more expensive then a subaru or god forbid your in a accident. I believe the average price to repair a volvo in a 5mph collision was 5,000 dollars. I remember a new article that the volvo is really expenisive to fix even in the smallest fender benders.

 

[ECFENCING]

wxl: Thanks for the input.......it turns out the volvo was in an accident. I purchased the car from a dealer who specializes in renting cars to the movie industry. He told me that "Chris Rock" was actually filmed in the car. What he failed to tell me and what I should have done on my own was get the carfax report....before I purchased it...or requested it from the dealer.

Problem was that I was starting a new job that required the use of a car two days after I bought the car. I only had a week to look for a car after I resigned from my old position and well I rushed into a bad decision......

Although he is legally required in New Jersey to tell me about any material condition of the car that would affect my decision purchase of the car I'm out of luck.....What I'm really mad at is I specifically asked him if the car was ever in a motor vehicle accident and he told me it was not at the time I purchased the car......and even more so that I took his word for it at the time without verifying it.

Caveat emptor........Feel like a big sap....

So I called the dealer I purchased the car from and he offered to buy the car back......at whatever my wife's dealer offered as a trade in + $500......

So I went from a trade in of $3600 to $1500........

I could sell the car on my own but who's going to buy a car with a recorded mv accident......other than someone like myself who rushed into buying this car......

This makes me rethink about keeping it and try to get my money's worth out of the car. I haven't really noticed any major mechanical problems and I recently got it tuned.....

 

[leoskee]

You mentioned extra cash flow a lot. At the rate that gas is going up you are already in the red.

As for your wife, the two of you need to think this out very carefully. Sometimes we have to make sacrifices for the best interest of the family. She should not have her mind set on only one vehicle.

Good luck.

 

[ECFENCING]

Leoskee: Thanks. I just hate having car payments.........and was hoping that the wife kept the paid off car for a few more years that's all...

I'd figure she would keep the 2003 subaru and wouldn't have a car payment for maybe 3 more years......

Buying a car is more stressful than buying a house

 

[NYreefNoob]

ecfenc, if really interested, pm me. the dealer wont give anything for it because it has a salvage title, or a car fax depending on the amount if they can't resale it it isn't worth having, mst car's they take in on trade go to wholesaler's or auction's, that car really isn't worth but a grand maybe 1500 to them, the subaru is a great vehicle, and last if you take care of it, a car is like a tank, got to maintain it to keep it healthy. if you buy a car new, but honda or toyota, they hold value better then other's, :shhh: and last longer. if you decide to buy new pm i'll see if i can help, not to hijack

 

[NYreefNoob]

oh and i am not a car salesman, i'm an auto appraiser at a dealership