Sunday, May 31, 2015

Should I get a new car or keep the one I have?


A little background:

I have a 2013 Ford Fusion w/ almost 60k miles. I commute 45 minutes to work everyday, and my job requires me to drive, as well, so I've racked up some miles in 2 years.

I pay $450 each month on a car loan and have about $14k left to pay on it. The car is worth $11.5-12.1k.

By the end of the year, I'm sure I will have 80k miles on it.

I am thinking of getting a 2015 Chevy Trax. The payment will be lower each month, too. Should I trade the Fusion in and get the Trax or finish paying off the Fusion and keep it?

Read more: Should I get a new car or keep the one I have?