tired of paying for my car--should I sell it?

[Anonymous]

I have a 2022 SUV, owe 34k on it, about 20k miles on it. I can easily afford the 600 per month payments, but just tired of makng the payments. I have the cash to pay off the car, but again, do I want to put all of this cash toward a car--not really. I have 100k total saved for down payment on a future home, and the 34 would come from this amt.

I am single, so really do not need a big car. What do you all think about me trading this car in for a small sedan costing between 15k and 20k--yes, I know I will lose money in the trade, but I wil have a paid off car.

[Anonymous]

Depends how much you have to pay to turn in early and how long you plan to drive the sedan. If you get tired of the sedan in a couple years, it’s not as worth the switch. I’m assuming you would buy the sedan used?

[Anonymous]

An SUV for a single person who doesn't own a home? Well that was stupid.

[Anonymous]

Don’t worry about anything stupid you did before, just look at what’s in front of you. What’s the trade in estimate for your car right now?

[Anonymous]

Anonymous wrote:Don’t worry about anything stupid you did before, just look at what’s in front of you. What’s the trade in estimate for your car right now?

Not sure, I have an educated guess but of course I will need to find out what the reality is.
Car is a Honda CRV

[Anonymous]

It’s going to depend on what the trim level is. But almost certainly less than 37k. Probably somewhere around 25 k.

[Anonymous]

What is the interest rate on the car and the length of the loan?

Honestly I would just pay off the loan and rebuild the savings for the home.

Are you tired of the payment or the loan?

And Jesus, a CRV costs like $40k now?

[Anonymous]

Anonymous wrote:What is the interest rate on the car and the length of the loan?

Honestly I would just pay off the loan and rebuild the savings for the home.

Are you tired of the payment or the loan?

And Jesus, a CRV costs like $40k now?

Interest rate is 5.something
7 year loan starting in 2022

[Anonymous]

Yeah I think probably the answer is to pay off the car, sell it, and then pay cash for a smaller and cheaper used car.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What is the interest rate on the car and the length of the loan?

Honestly I would just pay off the loan and rebuild the savings for the home.

Are you tired of the payment or the loan?

And Jesus, a CRV costs like $40k now?

Interest rate is 5.something
7 year loan starting in 2022

Jesus. A 7-year loan? God, that was unbelievably stupid.

Yeah, ditch it and buy a used CRV or something. You should able to find a late model one with about 125k on it for about $15,000 or so.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What is the interest rate on the car and the length of the loan?

Honestly I would just pay off the loan and rebuild the savings for the home.

Are you tired of the payment or the loan?

And Jesus, a CRV costs like $40k now?

Interest rate is 5.something
7 year loan starting in 2022

Jesus. A 7-year loan? God, that was unbelievably stupid.

Yeah, ditch it and buy a used CRV or something. You should able to find a late model one with about 125k on it for about $15,000 or so.

Me again. Or just pay off the loan and keep the CRV. That’s actually the better move.

NEVER take a car loan for more than 4 years. Dumb dumb dumb.

[Anonymous]

I bought 2019 HR-V for $30k total, including the interest I paid. This was already too much for me for a car. I paid off the 5 year loan in 3 years. I do have kids, but they fit in it just fine.
Would never cross my mind to overbuy and overpay.
I turned my $80k cash into $105k in few months this year. I don't want to sell more in 2023, but I will at the beginning of the new year.
What I do with my money is a choice, and what you do with yours is a choice. I don't know why you choose what you choose and then complain.

[Anonymous]

Anonymous wrote:An SUV for a single person who doesn't own a home? Well that was stupid.

Wow you sound like a very ripe 🍑 peach.

-Not the OP

[Anonymous]

Anonymous wrote:I have a 2022 SUV, owe 34k on it, about 20k miles on it. I can easily afford the 600 per month payments, but just tired of makng the payments. I have the cash to pay off the car, but again, do I want to put all of this cash toward a car--not really. I have 100k total saved for down payment on a future home, and the 34 would come from this amt.

I am single, so really do not need a big car. What do you all think about me trading this car in for a small sedan costing between 15k and 20k--yes, I know I will lose money in the trade, but I wil have a paid off car.

Buy a certified 4-5 year old Hinda or Toyota on cash and use it as long as it lasts.

[Anonymous]

Anonymous wrote:

Anonymous wrote:An SUV for a single person who doesn't own a home? Well that was stupid.

Wow you sound like a very ripe 🍑 peach.

-Not the OP

Well, PP is blunt but not wrong. It was an bad decision.