Trade in value vs. time

you can't be retired, and only work one job.

i think the longer you keep a car, the better the value. that being said, you might try a private sale to increase your return on investment, instead of a trade in, which costs many thousands of dollars. all the best!

 

can't beat that gig. i had to work 40 years, no pension, no nothing, just savings and investments.

 

Oy vey! Not uncommon though. So many people are "shorting" cars, and that's a short that always backfires.

We've always waited till we've got the cash. Simpler, cheaper.

 

maybe try some seat mods until you can afford to switch?

if you can afford it, now is a great time to buy, then sell the old one when gas goes back up.

 

there are a few threats here on seat swapping, if you can find them. everything from camry to recaro.

 

i was fortunate enough to get a lot of pesticide exposure as a golf course superintendent. we'll see how that pans out...

 

Almost seems like you're putting on 75 miles a day, to make car payments, and breaking your back in the process. Sell it, cut your losses, pack in the job, go back to one car situation?

 

First, I think you need to re-evaluate your definition of retired.

Then what I'm taking from your entire statement is " I want the 2016 Prius".
OK.

If you can afford it? Want it? Go for it.

As far as what your current Prius is worth? Well it's worth what it's worth. There are plenty of tools online to access value, Either as a trade in or as a private sale.

But basically once evaluating the current value, pulling the trigger sooner usually preserves the greater value. Very, very rarely does waiting ever result in a newer vehicle gaining value.

I suppose if gasoline prices suddenly spiked upwards? Well maybe...
But basically, if you want the Gen 4 Prius? My advice would use all available tools to ascertain the value of your current ride, and then go make the deal for the new one ASAP.

 

Start posting it for sale at$15000 now, someone will by it or give you an offer you can accept.

Or you can trade it in for a Gen4 and apply the upside down amount to your new loan. It won't be that bad if you spread it out 5 years

SM-N900P ?

 

Well since you are continuing to drive it, and adding miles, and time keeps passing, I wouldn't feign to know when you might pass the tipping point where what you owe equals the trade in value.

You could expedite the entire operation by doing as suggested and attempting to sell it privately for what you owe.

Otherwise, I suppose your forced to keep making payments, while simultaneously keeping an eye on the value of your vehicle.

 

There no guaranty that chair on 2016 will be better, also may be there more serous problem than chair. Besides why take car of the first model year?

 

If you're interested in making the best financial decision, then buying new and doing a trade-in is the most expensive way to own a vehicle. Buying and selling privately cuts the middleman out of the transaction. This is the objective truth of the matter.

My subjective opinion is that I don't like to own the first 2 years of a refreshed model just because there are often problems that get resolved in later production years, along with mid-model refreshes.

I too have a bad back due to a herniated L5-S1 disc and find my manual seats to be adequate, although I'll get stiff on a long trip no matter what seat I'm in. Perhaps there is a way to improve seat comfort by adding lumbar support, or a pad or changing the seat position. I bring a memory foam pillow in to work to sit on while I work my 13hr shift.

The best thing would be to do exercises / stretches that strengthen the back and core muscles; something I'm not very diligent to do. It really only takes me about 10 min every other day when I actually do the exercises, and I notice improvement, but sticking to the routine is the important part.

 

How many miles on the car? The cheapest way to own a car for three years is to lease ... lowest miles .. no money down. Full gap.

 

Agreed. Health is expensive. I'd sell now.

There is no line or calculation that says bad or a good time to sell a car. Depreciation is steep at first but levels out the longer you owe the vehicle. The moment you drive all the dealer's lot with a new car is the worst moment. The depreciation slows down the longer you own it. None of that matters if your back hurts. Put it another way, you're suggesting waiting until equal trade-in which is $4000. How much is your back worth for the rest of your life?

 

Just a guess, but when you are in your last year of payments, you should be good to go, enjoy your new '19.