Something things to consider:
My car is under 3 years old
The low cost of insurance
The fact it gets 40mpg highway.
That beater won't save me much on insurance and will likely cost more on gas, and if it breaks down I will be hurting. I won't have anybody to cover my back, no relatives/friends who can come to my rescue and get me to work.
The car is not paid off so if I pay it down to sale value and buy another car I am also going to be roughly equal in cost.
Better to keep the car I have.
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