AllforOne
... and I'm all out of bubblegum.
- Joined
- Jan 17, 2014
- Messages
- 1,851
- Reaction score
- 7,594
- Points
- 113
First: @Lee had great advice upthread about putting aside money each month while you drive the old car into the ground, and then pay cash for the new wheels when the time comes. From a money perspective, cars are terrible -- they only go down in value -- financially, the last thing you want to do is take out a loan and pay interest on something that is losing value.Alright I’m starting to plan for the next car. Currently have a 2016 Malibu that is approaching 120k and is paid off. We have two young kids (2 year old and a 3 month old) and possibly going for 3. I really would like an EV, but I’m not sure I can afford a brand new one. Would hybrid be ok at this point? I love Jeep wranglers but I’m not sure that’s the best for a family vehicle. Any suggestions?
Second: I'd suggest considering used cars. The market had been crazy post-Covid, with used cars selling for higher prices than new for a while. But that seems to have settled back to normal now. It may still make sense in the end to buy new, but I'd at least look at "newer used" cars (i.e., low mileage, recent models). Just get a Carfax -- if a used car's price seems too good to be true, it's probably for a reason.
Third: we drive Toyotas and have for years, and I doubt I'll ever drive anything else (while acknowledging that there are a lot of other good cars out there). I had a Prius that I got over 190K miles out of, and it was still driving great when I gave it to my son last year (getting myself a new Prius). My wife had a Camry that she drove to about 130K miles, then gave it to her dad (who still drives it to this day -- it has to be over 150K miles by now). She now has a RAV4 and loves it. Since you're looking for an SUV, a RAV or a Highlander (which has three rows of seats -- the RAV has two) would probably be the ones to look at.