Buying new car. Pay off old loan? Pay Cash??
Hey everyone. My husband and I want to buy a new car that gets around 30 mpg (maybe an aveo or yaris). We currently have a 03 Taurus worth $4000 and owe $2500 on our loan. We have been saving and can afford to pay the loan off completely. Do we pay the bank the 2500 and just trade the car in for 4000 or do we let the dealership handle this? Also, we have enough to buy the car with cash. Is it better that we just pay cash on the new car. Will it help me negotiate a lower price? What is the best way to negotiate a low price. We've never bought a new car before and don't really know the ropes. Also, can you reccommend of any good cars under $20,000 that get around 30 mpg??? Thanks so much for any help!!!
It probably would be better to keep the Taurus, but my husband doesn't want to..he's kind of set on getting rid of it...he's tired of the poor gas mileage. He also doesn't want to deal with selling it.
I agree that you would likely save more money if you keep your Taurus. But I also know whats its like to want a new car. I would say trade in your Taurus. If you don't like the trade in amount then keep it, pay it off and sell it out right. If you want to get a good price I would recommend submitting a request for a quote online. I work internet sales at a dealership and the prices are very low. You will have a lot of dealers sending information and you can choose the one that's best for you. As far as cars under $20000 i would recommend the Hyundai Elantra. email me if you have more questions that I might be able to help with.
