Logic of trading in
Hey guys - TL;DR version - help me think of ways to convince my wife to let me get a new car 
Full version - I have a 2008 Toyota Yaris S sedan with 135k on it. It is in good shape and was fully paid off long ago. I recently changed jobs and am driving 50 miles a day and am realizing I could use a smoother, quieter, and slightly sportier car. I do a lot of bike racing and we also got a dog not too long ago, so we could use a little more room . We're thinking along the lines of a Mazda3 hatchback, VW Golf, or a Subaru Impreza Wagon.
I am trying to convince my wife that we should just trade the Yaris in before the wheels fall off so we can get the best trade-in value. She is of the mind that any car you own you have to drive until the wheels fall off because when you get a new car, you acquire debt, and debt always equals bad no matter what.
Right now I am spending $1.5-2k per year on repairs (most recently needed a new water pump and brake rotors). My economic argument is that with the amount I'm spending on repairs right now, if I trade the car in my monthly payment would only be in the $200-300 range (we have perfect credit) and would be saving on random repair headaches.
Are there any other good economic arguments you guys can think of for me?
Alternatively, I could always just "forget" to put the car in park at the top of a hill with a body of water at the bottom. Man wouldn't that be tragic....
Full version - I have a 2008 Toyota Yaris S sedan with 135k on it. It is in good shape and was fully paid off long ago. I recently changed jobs and am driving 50 miles a day and am realizing I could use a smoother, quieter, and slightly sportier car. I do a lot of bike racing and we also got a dog not too long ago, so we could use a little more room . We're thinking along the lines of a Mazda3 hatchback, VW Golf, or a Subaru Impreza Wagon.
I am trying to convince my wife that we should just trade the Yaris in before the wheels fall off so we can get the best trade-in value. She is of the mind that any car you own you have to drive until the wheels fall off because when you get a new car, you acquire debt, and debt always equals bad no matter what.
Right now I am spending $1.5-2k per year on repairs (most recently needed a new water pump and brake rotors). My economic argument is that with the amount I'm spending on repairs right now, if I trade the car in my monthly payment would only be in the $200-300 range (we have perfect credit) and would be saving on random repair headaches.
Are there any other good economic arguments you guys can think of for me?
Alternatively, I could always just "forget" to put the car in park at the top of a hill with a body of water at the bottom. Man wouldn't that be tragic....
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Comments
The most logical thing to do is clean the car up nicely and sell it privately--you'll get double your money (maybe---what...? $5,000--$6,000?) and then put that all down on the new Yaris. That will give you instant equity in the car and keep payments within your stated range.
Statistically a car is pretty much used up (the wheels HAVE fallen off) around 175K, so at the rate you're going you have 2 years to make this work.
With all the extra miles your driving, I'd use the safety angle. Or just tell your wife you work hard for your money, your commute is long and life is short, so why not make the ride more enjoyable?
Check out Chronic Car Buyers Anonymous - that crowd can justify buying anything new for the garage.
I have to go to the grocery store later and MAN wouldn't it be funny if I "accidentally spilled" a whole bunch of sugar into the gas tank? Man that would sure make me an idiot, wouldn't it! Hope that doesn't happen....
Chances are your wife doesn't know that though, so just get a bag of sugar and dump it out somewhere and leave the empty bag beside the car. Then yell "HONEY, we got problems!"
But yeah, by all means visit our Chronic Car Buyers Anonymous topic. Those guys are so crafty they could pitch a lamb chop past a wolf.