Has the car been relatively trouble free?
Do you still owe money on it--how much?
Do you still owe money on it--how much?
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financially speaking think of it this way
$5000 investment, assuming your pmts stay the same
what is your better return in 2 years?
will your 06 deal be worth more than your 09 deal if you had to sell them both in 2 years? i'm assuming you will be taking on much more debt getting into a 09 than your current 20k debt on 06 right?
if you had to liquidate both at the end of 2 years which one nets you the most (or loses you the least
)
$5000 investment, assuming your pmts stay the same
what is your better return in 2 years?
will your 06 deal be worth more than your 09 deal if you had to sell them both in 2 years? i'm assuming you will be taking on much more debt getting into a 09 than your current 20k debt on 06 right?
if you had to liquidate both at the end of 2 years which one nets you the most (or loses you the least
)
All of the above...and if my memory is correct the routine maintenance coverage on the '09 is not as generous as the '08, so you may be better off getting a comparable mileage '08 if you really gotta have a newer one.
Unless you really have to have clear taillights
To take what the colonel said and add the time value of money. Assuming your payments are the same, if you pay 5K upfront you need to recapture about 5.4K in increased value on the newer one on the back end after 3 years. I used 3% to get that. Since the depreciation curve is steeper in the early years (but also assuming used car market is more stable, ie we just went through a period where used car demand was abnormally strong and drove prices up) this hard to do.
Per what phil said. I also intend to keep mine for 120K+, and I'm going to self warranty. Most of the parts the 3rd party warranties cover don't break down much in my opinion and the warranty companies know this. Its the stuff like ball joints, brakes, tires, etc. that need to be replaced and they don't cover that stuff.
Just be prudent and keep up with the recommended maintenance schedule--lubes, brake fluid, coolant changes, etc. and its cheaper if you find a good independent LR repair shop to do them.
Unless you really have to have clear taillights
To take what the colonel said and add the time value of money. Assuming your payments are the same, if you pay 5K upfront you need to recapture about 5.4K in increased value on the newer one on the back end after 3 years. I used 3% to get that. Since the depreciation curve is steeper in the early years (but also assuming used car market is more stable, ie we just went through a period where used car demand was abnormally strong and drove prices up) this hard to do.
Per what phil said. I also intend to keep mine for 120K+, and I'm going to self warranty. Most of the parts the 3rd party warranties cover don't break down much in my opinion and the warranty companies know this. Its the stuff like ball joints, brakes, tires, etc. that need to be replaced and they don't cover that stuff.
Just be prudent and keep up with the recommended maintenance schedule--lubes, brake fluid, coolant changes, etc. and its cheaper if you find a good independent LR repair shop to do them.
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