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Should I trade-in early or wait it out?

MrThatcherMrThatcher 133 replies7 threads Junior Member
Good morning everyone!

I usually lurk around here for helpful information and for once I actually have a question that might be answered on here.

Currently, I'm saddled with a dilemma. My current vehicle, a 2017 Volvo XC60 T6 R-Design, is about to use up its last manufacturer paid maintenance. This means that the next service will cost me around 300+ dollars, but while I was at the dealer to get the brakelight replaced under warranty, I learned they were ready to offer me a hefty trade-in equity for the car. The car is paid off so it will go directly towards a new car of my choice. I was offered an 2019 XC60 T6 Inscription pretty much loaded to the gills for 62k and a 2019 XC90 T8 Inscription at 76k again fully loaded to the gills.

So I was wondering, as a college student (entering sophomore this coming fall), should I just keep driving the XC60 (currently has 19k on the clock) and just swallow the cost of maintenance or trade it in while I still have equity on it towards a new car that comes with 4 years of prepaid maintenance?

Also, which one should I go for? I was thinking the hybrid T8 to maybe get the money back through the gas pumps?

In my mind, I should take it so that entirety of my college life the car is covered under warranty for maintenance and any other foibles. But does anyone else have an opinion?

Thanks.
106 replies
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Replies to: Should I trade-in early or wait it out?

  • hebegebehebegebe 3010 replies45 threads Senior Member
    Assuming you are serious.

    We have a 2018 XC60 so we know the prices pretty well. It is difficult to price out an XC60 T6 to much beyond $62K at full sticker, so being offered one for $62K is not much of a deal. Don't know the XC90s all that well.

    But in any case, you are financially far better off keeping the 2017 XC60.
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  • MrThatcherMrThatcher 133 replies7 threads Junior Member
    edited June 2019
    @hebegebe Well, that's the funny thing actually. I couldn't believe they call that 62k a deal considering the 60 isn't even a hybrid. Also since you own one, how's the Sensus working for you? I heard it was great but other long term users are reporting system crashes and in one instance, the entire driver's cockpit display just going completely black at highway speed.
    edited June 2019
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  • MrThatcherMrThatcher 133 replies7 threads Junior Member
    @jym626 Well it's not that i cannot afford, I was just thinking that it might be better to save the money on the maintenance and just trade up. But I want to see people's input.
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  • hebegebehebegebe 3010 replies45 threads Senior Member
    It's my wife's car, but she has never complained about the Sensus system, except for an issue with getting CarPlay to work properly for a while. But that was resolved within a couple of weeks during a service appointment.

    Overall she is really happy with it. We received one of the very first one new style XC60s that were released, so we expected some teething problems with it. But the few issues we had were pretty minor, and were handled well by the dealer, so no complaints.
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  • MrThatcherMrThatcher 133 replies7 threads Junior Member
    @hebegebe That's quite assuring to know. I appreciate your swift response because it is really a tempting offer but then again, having no car note is even better. I'm literally pulling at every straw to justify it but if I listened to myself, i'll be on the way to the dealer with the title in hand. So hopefully some friendly CC members can knock some sense into my head today lol.
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  • jym626jym626 58019 replies3044 threads Senior Member
    edited June 2019
    The best financial decision is to keep a paid off car for as long as possible. New cars lose a ton of value the minute you drive it off the lot. And a dealership is doing what is best for them, not you. How are you paying for a new car, even with a trade in? IMO no college sophomore needs to be driving a $76k car. Heck, I don’t even drive a $76k car and I drive a Tesla.
    edited June 2019
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  • MrThatcherMrThatcher 133 replies7 threads Junior Member
    @jym626 I mean of course there's no need for a sophomore to drive a 76k car but then again, life isn't always why but sometimes why not? I saw it as an opportunity to park in better slots since I'll fly under the radar of campus security. But then again, I'm starting to see it isn't exactly a smart move to do it solely for parking privileges.
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  • jym626jym626 58019 replies3044 threads Senior Member
    The why noting because unless you have money to burn, it’s a colossally bad financial decision.
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  • jym626jym626 58019 replies3044 threads Senior Member
    edited June 2019
    Ack autocorrect. The why not is because. ....
    The payments and interest rate and loss of value of a new car in the first year or so far outweighs the cost of maintenance. Just buy an extended warranty if you are worried about possible future repair costs (but it's not likely to cover basic service).
    edited June 2019
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  • bopperbopper Forum Champion CWRU 14701 replies109 threads Forum Champion
    Car with no payments vs Car with payments? Take the car with no payments.
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  • MrThatcherMrThatcher 133 replies7 threads Junior Member
    @bopper so far that is the general census albeit my mind is still trying to rationalize it though. I mean how nice would it be to be able to park in the University President parking spot without anyone noticing? I know its crazy but like a new car would fly right under the radar.
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  • bopperbopper Forum Champion CWRU 14701 replies109 threads Forum Champion
    I assure you will not be able to get into the University President parking spot. College parking police take things seriously.

    Also I recommend you don't brag about your car around your classmates in college
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  • MrThatcherMrThatcher 133 replies7 threads Junior Member
    @bopper oh yeah I learned that the hard way when I was literally verbally assaulted when I complained to my friends that were complaining their cars not starting that my heat seaters were either too hot or too cold. Essentially setting one is useless setting two sets your butt on fire and setting three just charcoals your butt. Yeah i still remember the look of pure hatred on their faces.
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  • Mwfan1921Mwfan1921 6244 replies97 threads Senior Member
    edited June 2019
    I mean how nice would it be to be able to park in the University President parking spot without anyone noticing?

    Assuming this is serious.....Of course people and security will notice. You will be forever known as the-student-with-the-expensive-car-who-thinks-they-can-park-in-the-president's-parking-spot. Thereby putting a target on your back that goes far beyond your car and parking spot.
    edited June 2019
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  • crankyoldmancrankyoldman 700 replies59 threads Member
    Every post so far is Volvo related...so it's got to be serious.
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  • ucbalumnusucbalumnus 85298 replies761 threads Senior Member
    Mwfan1921 wrote:
    Assuming this is serious.....Of course people and security will notice. You will be forever known as the-student-with-the-expensive-car-who-thinks-they-can-park-in-the-president's-parking-spot. Thereby putting a target on your back that goes far beyond your car and parking spot.

    If $300 scheduled maintenance is a bother, how much will the parking citations and costs related to having the car towed to the impound lot be a bother?
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