Hey, what do you think? Do I trade in my 1994 Volvo 850 (blue book about $1100, about 160,000 miles) for a 2007 Kia Rondo, 40,000 miles? Looking for more passenger room, tired of the sedan, but the Volvo is nice. There are exorbitant repair costs on the Volvo, but less then the loan on the Kia.
Are these two cars really your only options? There has to be a better choice. Mine is “none of the above”. The Kia’s worth $7,500 max if in great shape.
I’d trade the Volvo for something. A Kia Rondo is one option, but there are many others. Maybe a Mazda5?
You won’t get anything close to blue book value for a trade-in. Edmunds suugests that the value of an average 850 GLT sedan is about $1700, and trade-in value at less than $600. If you have any repairs required, it is likely that your trade-in value is nil. All this is to say that you need to seperate the purchase from the trade-in. When asked if you have a trade-in, say no or that you haven’t decided. Do not let the salesman get the idea that there is a trade involved. Negotiate a purchase price for the Rondo and then say that you might want to trade your Volvo. That way you don’t end up financing an inflated loan to flatter you with an overvalued trade-in.
My BIL has a Rondo and his family likes it a lot.
Whether you trade or not is never just a $$$$$ decision. I would agree with the trade on increased safety alone. Some people also feel being left stranded in a not so inviting area, waiting for help, is worth the extra expense. IMO, one shouldn’t be hard on themselves for wanting to trade for reasons other than financial.
I just rode in the Rondo again this weekend. It’s a very nice car, and quite roomy. We had 4 cases of wine and 20 cases of beer in it and only 4 of the cases were on the second row. Party time! A wedding reception, actually. The groom and I had no problem loading and unloading through the three rear doors.