Trade car or not?

[Fishingfarmer]

I drive old junk. I can handle a break down, even though its never happened to me. Wife is a different story. I would rather keep her in a reliable vehicle. She currently has a 2016 charger awd v6 with 91,000 miles. I have about 1 year of payments on it (sorry cash buyers). I will never be a cash buyer due to huge land payments. I'm trying to decide if I should run the charger to 200k miles and buy new, or trade now for a new/newer one. She is looking at an AWD challenger, her dream car.
Trading will lower payments and keep her in a new car with warranty. Less I have to pay to make up the difference so it seems easier to swallow. Also less of a chance of a big repair bill. I think that's slim, but it's always a possibility.
Running this one to high mileage will free up a lot of money in a year that I can put towards other bills. She keeps her car very clean and washed, but her last charger was a 2008 awd and started rusting at the end (225k or so). Theres also probably some maintenance items coming up at around 100k miles.
Theres only a couple 2019 leftovers with big rebates that are set up like we want, so we need to decide soon.

[iabass8]

if it makes her happy do it. can't take it with you when you die.

[DURASPANK]

Either trade while there still worth something or drive them into the ground.

[jigman51]

I am getting in the same arena with my wife's vehicle. Got to make the same decision but I lean toward getting her something new.

[ram1076]

Exactly, in my mind those are the only options

[Bsktball55]

If it's still a reliable car that will be paid off in a year and you have a lot of other bills that you can start paying off, it's a no brainer for me. The payments maybe lower, but you are looking at another 5-6 years before you can start attacking those other loans. Pay this one off, keep till it's not reliable anymore and pay off as many of those other bills as possible. Then it will be much easier to make the payments on a new car in 4-5 years.

[Ranger354]

I drive old stuff also and like you try to keep her in a newer car. Fortunately we only live a few miles from both her work and mine so mileage is never a problem. But I still like keeping her in a newer car. I drive mid 90's Fords, hers is a 16 Equinox...not my choice trust me. But it has warranty and almost no miles. 21K maybe. Buy the car, in two years you won't know the difference.

[Big Al]

I think you are trying to talk yourself OUT of Buying that Challenger. The Charger in good condition should get you some good money for it. Why not sell it outright? A dealer is only going to give you the lowest trade in value.
Personally, I think the Charger is a better car than the Challenger ride wise. The Charger is very close to a 300 in comfort.
But, what it comes down to is, are you comfortable with a new car payment? If so, go for it.

[Umckibben]

91k in 4 years, is say trade it off or sell it, she obviously drives alot, might as well keep her happy

[stosh]

91k in 4 years, is say trade it off or sell it, she obviously drives alot, might as well keep her happy

ther are no pockets in a casket

[bassdge]

ther are no pockets in a casket

there has to be a balance....keeping the car will allow you to reduce other debts. Then you could save more for retirement so you do not have to work until the day you die. Who knows, you could become a cash buyer.
what would happen if you or your wife lost your job, health issue and have to be out of work for a while, disabled and could not work, or one of you dies prematurely. We will likely be in a recession in next 2-3 years. A lot to consider vs the comfort of the new car smell.

[Hunna]

If you have the money do it a lot of miles , you know what they say Happy Wife, Happy Life!

[Kenfuel]

I'd drive it untill I didnt trust it. I'd pay it off and then take the same amount I was paying for car payment and apply it to land payment. It will save you alot of money in interest....interest money is like money you work for just to set it on fire and watch it burn...go at things this way and one day you'll be a cash buyer.

[tcesni]

I'd keep it for two more years, 150,000 miles without major repairs should be expected and that would get you one year without payments. The second best alternative would be if you can get a really excellent deal on that leftover and then sell your wife's car yourself (definitely can be a PITA) to maximize it's value. I would not trade it in.

[I.P. Freely]

..interest money is like money you work for just to set it on fire and watch it burn...go at things this way and one day you'll be a cash buyer.

[jarhead175]

Kind of been looking at the same issue. My lady has the Challenger and wants something else. She won't be driving much so we are thinking about a higher end SUV. All I have been told is make my decision before 100k on the Challenger or it won't get much on trade in.

[Bassman Ia.]

Either trade while there still worth something or drive them into the ground.

this ^^^^

Until 2007 when ever we bought a new car, I would take “her car” and make it my work car. I knew what kinda vehicle I was getting, it was paid for and it had been ours since it was new. She bought a new SUV in 2015 and is ready to buy another one this summer, we will sell her’s outright or trade it in, I don’t want a SUV.