AWD option too costly

[jaypee]

Originally Posted by HappyRider

Yeah, he leased it for 2 years then financed the residual for another 3 and I he has been driving it since. He has only 60K miles on it. I suppose he could hang on it but how long? The day will eventually come. If he is going to get anything for it this is probably a good time. As is I doubt the dealer will offer him more than 6-7 grand. He can put down another 7 and finance the rest.

What day will come?
Is the goal to "get sumfin fer it" or to be fiscally responsible and still have reliable transportation?

[IShootNikon]

Yeah, it's a 2009 paid off model. It's not how much the dealer will give him for it but how much more he has to pay into the car ($0)

[Brian_M]

Originally Posted by HappyRider

I suppose he could hang on it but how long? The day will eventually come. If he is going to get anything for it this is probably a good time.

There-in lies the real question.

The car will last another 200k miles with basic care (read that as simple/scheduled preventative maintenance) and be "worth" about $2~3k at that time. That's just shy of 20 YEARS of driving (at his current rate) without having a car payment.

Or spend the money month after month. Be roped into always having a job... I think the term most frequently used is "rat race", though "treadmill" fits the situation as well.

Is his time (because that's the root of it for most people) better spent in return for money to pay interest, better spent in return for money used for early retirement, a house, eliminating debt, or is it better spent NOT trading for money at all and simply working less/living more?