Originally Posted By: Nick1994
Lol this forum is a little strange at times. Everyone tries to talk everyone out of buying a new car. Greg, you don't NEED a new car, absolutely not. But you WANT one, and if you're bored with the Accord then go ahead and move on. You came on here to ask about the new Corollas, not about whether it's good financial advice to buy a new one. It's your money, not ours. Spend it how it makes you happy. I have no doubt your Accord has at least 200k left in it. You drive so little per year you don't really rack up the miles on it. I've put exactly 17,500 miles on the Beetle this past year, so 10 years would be 175,000 miles for me, I'd have no concerns of I had your Accord to drive it for 10 years.
But you WANT a new car, go for it! You could easily sell the Accord for $7,000 making your next car payment real low.
I wouldn't buy used though, not for the value you can get buying new. I posted a Corolla on this thread earlier, plenty of them for $13k
Well the reasoning behind it is...in 2-2.5 years we will be looking into getting our first home. With our income we wont have any extra spending money for quite some time. By that time, the Accord will be aged and probably will need more frequent repair. So, if I could get a car with 30K or less and have it paid off in 1 year (thats the plan) I should have reliable transportation for quite some time, and not have to worry about when something is going to break, and will have have enough $$ to have it fixed. Also, in 5 years or so the Accord wont be worth much for trade in, or private party.