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Should I trade-in early or wait it out?
MrThatcher
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 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.
This discussion has been closed.
Replies to: Should I trade-in early or wait it out?
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.
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.
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).
Also I recommend you don't brag about your car around your classmates in college
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?