I had a recall on my car so I got the chance to look at all the new fancy cars while mine was getting fixed. New cars are really shiny so I thought “hey; while I’m here maybe I should get an appraisal on my current car for possible trade in”.
When I bought it, I paid cash for it ($15K plus tax). I saved for a couple of years for it so I could buy it outright and not finance it. 3 years later it’s now only worth $5.5K. I figure that based on the kms that I drive I have 3 years left with my current car. The car I would probably buy new would be $23K, but with my driving would last about 6-7 years.
Based on that value, my current car will cost me $1,833 per year for three years, but if I trade my car in it will cost $2,917 per year for 6 years. [(23-5.5)/6yrs]
I’m keeping the Fusion.
That being said…. new does mean shiny!