To trade in... or not...???

Question

I have a '97 Convertible, base model, auto transmission, nothing added aftermarket, approx. 73K miles on it now. With all of the 0% financing out there, just trying to figure out if I'm better off sticking with my 'Stang, or if I should seriously start looking at trading it in or selling it. The car is well-maintained, no body damage, no major mechanical problems (does need a new wheel and new tires & I've noticed a few very minor flaws in the convertible top). Just wondering what I might be looking at, as far as upcoming repairs and higher-mileage vehicle maintenance.

Any advice or guidance would be much appreciated! I love the car, but my hubby is convinced it's going to cost us a lot to keep it on the road.

Thanks! Kori

Silver Stang · Accepted Answer

I think that your car would be worth around 4k .... thats my quick guess .. as for the new cars ... 0% means that you have to be approved and you have to pay off the car in a shorter time .... i guess 3 years.... so your payments are higher .... depends on the down payment ...

i'm sure you know about this ... but just in case ....

- SS

Scotter · Answer

says your 97 convertible Mustang 3.8 V6 automatic isworth $8900.Not that this is for sure *the value* of your car because that is relative,heh.But I thought the $4000 sounded very low so I looked.Scott

Michael Johnson, PE · Answer

Mustangs are one of the most dependable cars on the road in my experience.  You should easily get 150k miles out of it with regular maintenance.  Personally, I would wait until the new Mustang is out to buy.  It will have a much better chassis, power plant etc. and new styling.  Maybe your husband is trying to find a way to get a new GT in the driveway? ;)KoriQ wrote:

Chief Wiggum · Answer

Bought a 2003 F150,  0% interest for 5 years direct from Ford.Not sure where you are getting your loans from, but you should shop around!!

Silver Stang · Answer

hey that is awesome ... I checked by college park and thats what i found ...however I never applied for it ..I was considering selling my 01 v6 for a new cobra :-)- SS

Silver Stang · Answer

hehe ...hey I don't know about the dependability ...they suck in rain.....its a disaster in snow ....I know this car is not supposed to be driven in snow .. .but my poor soulcannot afford a second car ...150k easily ??? that sounds decent ...

AZGuy · Answer

On any economic basis are better keeping it instead of getting a newone no matter what the interest rates.  The vehicle can easily go 150Kwith an investment of around $500 per year in repairs on average.Even if you had a year or two costing $1000 you would still be wayahead of how much you pay out in monthly payments over a years time ona new one.  I'll never understand the logic of "it's going to cost alot to keep it on the road" which translates to at most $500 to $1000a year, yet paying $4000 a year in monthly payments is somehow "adeal" worth taking.  My dad is like that.  If he has to spend $500 onrepairs it's like it's the end of the world and the cars gotta bereplaced.----------------- Jim'88 LX 5.0 (now in car heaven)'89 LX 5.0 vert'99 GT 35th Anniversery Edition - SilverMods to date - Relocated trunk release to drivers side, shortened throttle cable.

Chief Wiggum · Answer

Uhh... read the posts... if you still don't understand, come back andsomeone will splain it to ya !

To trade in... or not...???

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