I have a far way to go to get monthly expenses in check. One suggestion was to downgrade one or both cars. I'm looking for advice on this and to see if this really makes sense:
I owe $8,800 on my 2007 small sedan. I just purchased it used last year for $11,500. I do 62 miles per day commute. The car had around 30k miles when I purchased, now has 42k. I think I could still sell it for around $11k.
I've been looking at small SUV's like Ford Escape. These would help me out with taking the dog out, and with kids sports stuff. But, I've always enjoyed small sedans for driving to work (jetta, honda, mazda).
So, a $5,000 Escape will come with close to 100k miles on it. Maybe I can find one with 88k. So if I make $2k on my sale, I'd have $3k owed on a 2003 Escape with high mileage. And I have to do 62 miles per day so it will add up.
Do you think this makes sense to do? Trade a 2007 w/ 42k miles for a 2003 w/ ~90k? Or would you keep the low mileage sedan and find ways to pay it off quicker?
I owe $8,800 on my 2007 small sedan. I just purchased it used last year for $11,500. I do 62 miles per day commute. The car had around 30k miles when I purchased, now has 42k. I think I could still sell it for around $11k.
I've been looking at small SUV's like Ford Escape. These would help me out with taking the dog out, and with kids sports stuff. But, I've always enjoyed small sedans for driving to work (jetta, honda, mazda).
So, a $5,000 Escape will come with close to 100k miles on it. Maybe I can find one with 88k. So if I make $2k on my sale, I'd have $3k owed on a 2003 Escape with high mileage. And I have to do 62 miles per day so it will add up.
Do you think this makes sense to do? Trade a 2007 w/ 42k miles for a 2003 w/ ~90k? Or would you keep the low mileage sedan and find ways to pay it off quicker?
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