Not Sure What To Do

[rizzmo]

to justify with numbers: he sells it for $14k, buys a used car for $6000. He ends up with a used car, still owes $14k on the car he doesn't even have anymore, and now this 3-4y/o car will need to be replaced sooner than the newer car would have been. Not worth it, IMO. Oh, and @rizzmo, I wouldn't exactly label a Ford Fusion as a "status symbol". It's your run-of-the-mill family sedan, like the Toyota Camry or Honda Accord.

You may have a point on keeping the car until it dies. I made the mistake of buying a new car and had it paid off before I realized the loss I had taken on the depreciation in value. Paying it off so quick I saved myself the 90% of the interest otherwise it would have been worse. Since I can't change the past I decided to try and mitigate the damage. The only way for me to do so at this point is keeping the car until it dies, which I will. I own a Chevy Aveo so yes a ford fusion is a bit of a status symbol to me . Seriously though, I was talking about the mentality of new vs used. Most people would look at going from a new car to a used car as a step backward in their life ... while completely ignoring the financial step forward it would also mean. What can I say, us Americans are in love with our cars.

[Mr Hopkins]

I'm gonna try and justify the car without confusing everyone. We have two cars. Prior to the Fusion we had a 92 Chevy that we bought about 7 years ago for $1400 (cash). I have been dumping money in this car left and right, and I do most of the work myself. There were always those surprises at inspection time without fail! I had $2000 in that car that we just recently sold for $500! We also have a 99 Pontiac bought 7/2002 for $16k and 23k on the clock. I have maintained this car very well and since 2005 I have been driving this car hard, about 26k a year and I'm not talking just highway miles. So 26k on a Mon thru Fri basis and then weekends with the family - countless round trips for camping in PA; visiting family in Ohio a couple times; I've had it to Jacksonville, FL; and Ocean City, MD. The 99 was the family car as well in addition to the bread winner. Its got 165k on it now. Its had it share of issues, but they've been maintenance related and I do most of the work on this one. It needs about a grand worth of work put in it this summer. I have no doubts about this car what so ever. So to buy another car and not knowing what its been thru and how its been maintained was basically the deciding factor for buying the 09. IDK if this makes any more sense to buying a new car, but these were the reasons. Its not my status symbol.