OK - I could use some perspective....
The cash for clunkers program has my interest peaked and I am thinking of taking back some of my tax dollars via this program. But is this a good financial choice?
I have a qualifying vehicle - 1999 Ford Exploder with 66,000 miles.
The Kelly private sale value is $2500 and I bought this heap new (stick shift, crank windows, no center console, plastic seats) and paid cash at the time.
Usually I keep cars forever and with this mileage would expect another 5-7 years of use but I HATE this car and given the number of plastic bits that have begun snapping off it, don't believe that it will be on the road for many more years. Currently, there is nothing wrong with the car mechanically and I would be buying a similar vehicle. I need to be able to tow 5,000 lbs and carry heavy, lumpy gear. I can find an SUV with better fuel stats though that would still qualify under the clunker program.
Should I take the $4500 now or suck it up and drive this low rent rig until it dies?
Am I over thinking this?
The cash for clunkers program has my interest peaked and I am thinking of taking back some of my tax dollars via this program. But is this a good financial choice?
I have a qualifying vehicle - 1999 Ford Exploder with 66,000 miles.
The Kelly private sale value is $2500 and I bought this heap new (stick shift, crank windows, no center console, plastic seats) and paid cash at the time.
Usually I keep cars forever and with this mileage would expect another 5-7 years of use but I HATE this car and given the number of plastic bits that have begun snapping off it, don't believe that it will be on the road for many more years. Currently, there is nothing wrong with the car mechanically and I would be buying a similar vehicle. I need to be able to tow 5,000 lbs and carry heavy, lumpy gear. I can find an SUV with better fuel stats though that would still qualify under the clunker program.
Should I take the $4500 now or suck it up and drive this low rent rig until it dies?
Am I over thinking this?
- It seems fundamentally wasteful to me to trash a perfectly drivable vehicle.
- This is the only time I'll ever see 4500.00 for this car
- The fuel mileage rots (just under 17 mpg)
- New car would only get a little better fuel mileage
- I am cheap and opening my check book causes me heartburn
- I love the smell of new car
- Insurance would go up
- Repair costs would go down
- I would have to interact with car sales 'professionals'
- That could be good sport...