May
30
LesLrie asked:
We have a gas guzzling 2004 Impala, worth between $9,500-10,000 (trade-in value). We owe $14k on it. I know for a fact that we can have this, as well as all our other debt, paid in full by the end of this year, while my husband is in Iraq.
However, with gas the way its going, ($70 a tank) we are pretty sure we have to switch to more efficient car. We’re considering a used Camry Hybrid (somewhere between $25-30k)
We have a gas guzzling 2004 Impala, worth between $9,500-10,000 (trade-in value). We owe $14k on it. I know for a fact that we can have this, as well as all our other debt, paid in full by the end of this year, while my husband is in Iraq.
However, with gas the way its going, ($70 a tank) we are pretty sure we have to switch to more efficient car. We’re considering a used Camry Hybrid (somewhere between $25-30k)
My question:
Is it worth paying off the Impala in full, and then trading it in for a used Camry? I think because we’ll be debt free we could get a better deal.
Or should we trade the Impala in now and still channel the money we would have used to pay off the Impala (the $14k) into the new Camry that we get? Before we are debt free?
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