Should I pay off my car before I sell it? - FMVperformance.com : The site for all your Ford Mazda and Volvo needs
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post #1 of 12 (permalink) Old 07-23-2006, 03:19 AM Thread Starter
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Should I pay off my car before I sell it?

I have a 99 Civic that I just got a couple months ago. I really want a 3 now though. I owe about $4,000 more on the Civic. I figure I can either sell it now, pay it off and have a couple grand to put down on the 3 OR I can wait til I finish paying for it and buy the 3. The one thing that makes me want to wait is that currently I am putting 150+ miles a day on my car for work and I would prefer not to put that many on the 3 as it's something I want to have a while and not build up the milage super quick on. Then again, this is probably a great time to buy an 06.
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post #2 of 12 (permalink) Old 07-23-2006, 04:20 AM
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Re: Should I pay off my car before I sell it?

How much are your monthly payments?


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post #3 of 12 (permalink) Old 07-23-2006, 06:23 AM
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Re: Should I pay off my car before I sell it?

I would say keep the civic to put a ton of miles on it, the 3 its so nice that you really wouldnt want to rack up mad miles on it like that

I now own a 2008 350z Base MT
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post #4 of 12 (permalink) Old 07-23-2006, 07:44 AM
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Re: Should I pay off my car before I sell it?

Id tend to think I'd rather have a down payment than pay the thing off, assuming you're not upside down on the civic.

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post #5 of 12 (permalink) Old 07-23-2006, 09:02 AM
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Re: Should I pay off my car before I sell it?

Why not pay off the civic and use it as a winter beater when you get your 3? That's assuming that you get snow in the winter

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post #6 of 12 (permalink) Old 07-23-2006, 09:49 AM
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Re: Should I pay off my car before I sell it?

Is the mileage going to change once you get the 3? Are you looking to move closer to your workplace? I'd hate to rack that kind of mileage up on a brand new 3.


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post #7 of 12 (permalink) Old 07-23-2006, 01:31 PM Thread Starter
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Re: Should I pay off my car before I sell it?

No snow here in the winter. I am always looking for something closer to home but as of the forseeable future I'll continue driving that much, probably 50 miles less once public schools start back. I guess with the civic paid off I could always keep it to drive and the 3 to play with. Insurance really isn't that high. I'd just love to have the money for it for a down payment.
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post #8 of 12 (permalink) Old 07-23-2006, 05:31 PM
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Re: Should I pay off my car before I sell it?

[quote author=sedan_phan link=topic=52197.msg839968#msg839968 date=1153675871]
No snow here in the winter. I am always looking for something closer to home but as of the forseeable future I'll continue driving that much, probably 50 miles less once public schools start back. I guess with the civic paid off I could always keep it to drive and the 3 to play with. Insurance really isn't that high. I'd just love to have the money for it for a down payment.
[/quote]
Yea, but look at the economics here. You will be paying a premium just to have a brand new car (a damn nice one at that), and your going to be beating on it, so to speak. Long mileage and lots of driving, i would keep the civic to put tons of miles on, and the 3 as a around-town and fun car.

I now own a 2008 350z Base MT
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post #9 of 12 (permalink) Old 07-23-2006, 06:14 PM
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Re: Should I pay off my car before I sell it?

I have to agree with Quicksilver here... but I know that you are getting pissed at us both reading this because you want that shiny new 3. It all comes down to whether or not you really NEED a new car. Sounds like the civic is doing its job, and you don't really have to worry if you run it into a brick wall or a curb as much as if you'd have the new 3. Another thing is, your insurance for the 3 is going to increase.


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post #10 of 12 (permalink) Old 07-23-2006, 06:34 PM
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Re: Should I pay off my car before I sell it?

Pay off the Civic.... i dont know how many months on the loan but by that time 07's will be cheaper and i heard of revisions for 2008 models... other thread.. fill it in

Hondas are good cars... specially to pile miles on...

Once you got the Civic paid for it can be a decent down payment or a second car depending on your budget and your love for the mazda3

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