Would it be a smart or dumb move to trade in my car now for something newer?

Question

I have a 2005 Mazda 6 with 54,000 miles on it. I am thinking about trading it in to get something newer like a Jeep Liberty or something. Would it be a smart move to trade it in while its still somewhat newer or would I just be losing money?

Answer 1

Plz do not get rid of that car for a Jeep. That would be a mistake. That Mazda is a great car and very reliable. It has a long way to go before it dies. The Liberty has constantly gotten poor reviews and has questionable reliability issues. It uncomfortable, drinks fuel, and has poor resale because of the fact it's an suv. Even small suv's are not desirable in the used market right now. The all new redesigned 2009 Mazda 6 will be avalible soon. Plz wait for it and then reconsider. I attached a link so you can see the 09 Mazda 6. G'day!

Answer 2

Financially, it's a dumb thing to do.

If it's paid off, you've got a fairly economical car with no car payments.  If still owe on it, you probably owe more then it's worth with the high miles.  You'll just end up rolling that debt onto the new loan, and owe way more then the new car will be worth after it's off the lot.

Answer 3

Why not a new Yukon....I hear they are giving them away!

Stick with what you have, unless you are rich, but then if you are rich...check out that Yukon...or an Escalade.

Answer 4

You'd definitely be losing money on the deal.  Not only because of the decrease in resale value, but with the price of gasoline shooting through the roof, you definitely don't want to purchase a gas guzzling SUV.  Keep the car.

Answer 5

you will lose money

you need to keep your car about 5 years b4 it becomes

worth it to trade it in.

and don't buy any Jeep, they are unreliable

J - just

e - empty

e - every

p - pocket

Answer 6

You must have wondered why Ford and General Motors sales for SUVs have gone down. Most of the people now prefer cars that would give them a slack on skyrocketing gas prices.

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Answer 7

The deal will all depend on the amount of money you owe on the balance of the loan and the market value of your Mazda.

If you can negotiate a reasonable trade allowance for it I would say trading a 2005 for a 2009 is probably about the right time.  Or course that Mazda has a lot of good reliable life left in it. There is really no compelling reason to trade it in now unless you just want a different car.

Answer 8

Do you still owe money on it? Besides that it's pretty stupid to trade in a decently fuel efficent car for an SUV(even if it's a small one).