So my husband and I are looking at possibly trading in our vehicles for something cheaper which would require getting slightly older ones than what we currently have

[Leigh]

He has some student loan payments coming soon, so just trying to think ahead as to how we can help absorb this extra expense. If anyone has done this, do you regret downgrading from a new vehicle to an older one?

Any suggestions on best course of action?

[Jennifer]

We went car shopping this week and used are more expensive than new.

[Beth]

I have a 2010 GMC Terrain that I love. Have hardly had any issues and were at 200k miles. We always keep older vehicles and do most our own maintenance.

[Kimberly]

Talk to your local trusted mechanic, talk to your tow truck driver. Older doesn’t mean worse. The best car I ever had was a 06 Pontiac Vibe. I still get jealous when I see one on the road!

I would invest in one with staying power (if doable) like a Suburu or Toyota. You don’t want to “downsize” to get stuck with one that requires frequent fixes.

[Ashley]

With the interest rates being so high I would do it. You’ll be paying more or the same for an older vehicle.

[Kimberly]

I just bought my lease and the interest rate was higher for my car being a 2019 than a new 2022 or 2023.

[Traci]

We always keep a new car and an older one. Only one payment. Old cars are not cheaper. They usually need bigger repairs.

We also never buy new. Two-three years old.

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