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trading in my car ; should I pay down my car or keep more cash for new car


Koalabay52's Avatar
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12-26-13, 03:45 PM   #1  
trading in my car ; should I pay down my car or keep more cash for new car


Next summer I want to trade in my Nissan Rogue for either a Murano or another make.
Should I keep paying extra every month on my Rogue till I trade or just pay the amount they ask and save my money and give them more cash next summer? I dont know whats best. To me it comes out the same , but does it?

 
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12-26-13, 03:47 PM   #2  
How does the interest rate compare now to what you'll end up with next summer?

Pay more on the note with the higher rate.

 
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12-26-13, 04:12 PM   #3  
trading in my car; should I pay down my car or keep more cash for new car

I am paying 3.74% annually
I don't know what the interest will be next summer
I bought it used 5,000 miles on it 2012 and will do the same, almost new

 
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12-26-13, 04:14 PM   #4  
The problem with saving the extra vs paying extra is it becomes discretionary funds and gets spent elsewhere. The real savings would come from driving that Rogue for a longer time or finding a private buyer. Trade-in value is always terrible when you compare it to actual purchase price, not the sticker. The sales people are very good at making it look like a good trade, but it is only good for them.

Bud

 
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12-26-13, 04:34 PM   #5  
trading in my car; should I pay down my car or keep more cach for new car

Yea I know its a game for them. Maybe I can sell in privately but it seems no one would want pay over $10,000 with no warranty. (when I bought it June 2012, I paid for 2extra years for bumper to bumper (2014-2016 ) warranty that costs me an extra $1299. Original warranty was Dec 2011 when they bought it to 2014.) I don't want to keep it. I had a PT Cruiser I drove from 2002 to 2012.

 
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12-26-13, 06:03 PM   #6  
Warranty isn't transferable?


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12-27-13, 05:19 AM   #7  
Big OUCH on the price of the x-warranty; huge profit center for the dealer! Be prepared to take a bath on trade-in value as Bud alludes to.


Measure it with a micrometer; cut it with an ax.

 
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