[USER]

Should I trade in my 2022 Honda Accord with a balance of 15.8K (65K miles) and get a new car or should I sell it for 21.3k and take the difference and pay off the Honda then keep the balance to pay off credit card (2.5K) balance and down payment towards a new car?

I am also a ride-sharing gig worker and teacher w/ 60K W2. I’m also going to be living the nomad lifestyle.

Need Good Advice.

[Amber]

Just keep the car. You don’t need a new one, especially as it’s a Honda.

[Gwen]

You’re doing it wrong just by the fact you want to sell a 2022 vehicle….

[Juliett]

Don’t take more debt.
You don’t need a new car.

Pay off the credit card.
Every time you sell or buy a car you lose money.

[Rebecca]

Keep the car. Take whatever the new car payment would have been and put it towards the cc debt.

[Joshua]

Keep your vehicles they aren’t American cars. They will last you for a very long time. The accord isn’t the best on mpg the new Camry is much better.

But I have two corollas because they are inexpensive enough to purchase slightly used and cash.

Just pay off your accord and keep cash cars. I enjoy not having vehicle payments anymore.

Plus, it really does free up monthly income to pay down other debts.

[Carole]

Keep the car ride out possible tariffs situations. Judges have ruled it unconstitutional to tariff those countries and ordered them null n void.

[Billy]

Sell your car and use the difference to get a cash car….then put all your effort, energy and money to clean up your debt.

You are not in financial position to buy a new car. Build up cash and upgrade over time.

[Bethany]

Why wouldn’t you just keep the car? Why are you thinking of buying a new car if you have high interest debt?

Your accord should easily last you another 7-8 years.

[Adam]

If the car is worth more maybe look at refinancing it for an extra $2,000.. your current car should be more reliable than paying cash for something with how expensive it is to repair

[Nicole]

What’s the credit balance that needs to be paid off and what’s the interest rate?

If you’ve got credit card debt, why are you considering a new vehicle when your current vehicle is barely broken in?

[Author]

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