Should I trade in my car?

Im thinking how much do you owe? if you owe more than its worth, its called being upside down. And if you do a trade in the dealer puts the amount you owe on the back of your new loan,now you are paying off two cars but have only one, then pays your trade in off in cash. By the dealer paying off the principal or doing a buy out. he saves all that interest money (goes in his pocket) and you still owe it to him, he gets paid twice right there. Its better to keep the vehicle you have, pay it down below what you owe over the next 18 months, and trade it in for a 2014 what ever. These dealers are sneaky thiefs , It makes more sense to keep your car longer, it still has lots of miles left and did you get that 7 grand trade in price from a dealer? I dont tthink so, dealer offer may be 5 if you are lucky.

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Awsome, thats even vetter to be under what its worth is even better, this gives you an advantage if you decide to trade in, however, if you are happy and satisfied with your car keep it for a while longer, I also see you are well informed as to potential flaws such as the transmission issue here is a website that might interest you carcomplaints.com The fact that you have educated yourself, and are aware of these possible problems is great, I wish more people were doing this. It sucks when people get taken advantage of by dealers who could do people right and still make money, Its pathetic how some greedy people take advantage of others. Asking questions is one of the best ways to avaid traps and pitfalls knowledge is power when it comes to car dealers. best of luck in all you do.

I can't tell you how many people make the mistake you are asking about. It seems logical to trade your car in and get something newer and more reliable, but here's the truth:

Your Honda right now is one of the best vehicles you could have. The longer you hold onto it the more you save. Think about it like this. When a new or used vehicle is sold at a dealership it is sold at a "retail" value. Many factors go Into determining this number on used vehicles. New vehicles are determined by the manufacturer in the form of an MSRP. Some dealers will add an addendum to the MSRP and ask for more. Now, when the vehicle leave the lot it depreciates. Its at this point the vehicle costs you the most. You could have spent the thousands on something else. This is true for new and used cars but the amount and percentage are obviously different. The make also plays a big role in how much you will lose. A honda depreciates very slowly, just so aware.

With all that said, your car has already done all that depreciating. You state the trade in value is about 7k and you awe 4k. You have accomplished what so many people can't. You have equity. DON'T THROW IT AWAY! You will lose it all to depreciation, paying more in interest due to a new loan for a longer period of time. Depending on your credit a new loan could cost you 1000's.

You will have your car paid for in couple years. Then no car payment. This is the best feeling in the world. If it breaks at this point, consider it a payment or two. There are so many reasons yo shouldn't trade right now that I would be typing for days if I shared all of it!!!

Bottom Line:

Your car has an annual cost that is about 1/3 of what it would cost you to get something different,

Make your Honda something new instead. Customize it. Dont go crazy but wheels, tires, tint and maybe paint. Take your time doing it and enjoy the changes and improvements

Let me put it another way! Should you get a new car? NO< NO < NO

You have a lot that you bring up in your question. Before you pay off your car you need to do some math. Whats your interest rate? What do you spend annually on repairs etc.. for everything. (house, car, boat, kids, bikes etc..) Depending on many different factors, you might be better off having the money liquid or available when you need it. If you decide to pay it off, plan on keeping it for at least 3 more years. If you don't you'll again throw $1000s away.

You get the idea... Keep your Honda. It will hold it's value better than almost anything else out there. They are also considered very reliable! Don't make the mistake so many do. Make sure you don't make a decision based on emotions. Emotions will cost you a ton if you do!!

Please email any further questions you may have or if I can help anymore.

you have an accord V6!!!! never EVER trade one of those in for a four cylinder. sure they're a little harder on gas, but if you trade that car for either one of those you will never feel happy again. if you are to trade it in, get at least a six cylinder. these days they get about the same mileage as four cylinders with more horsepower.

No keep it