Kia Soul. Honda Fit & bikes

[Catrin]

They both sound like good options, though I will of course have to test ride them. Did I just say test RIDE them? LOL, well you know what I mean.

I hope I can make a good deal on one of them that will give me lower payments, then I can justify it. My Lancer is in great shape, but there are scratches from transporting bikes, bikes leaning against the car, etc. We will see what they might give me in trade - the blue book value is still pretty good for that car.

If this does work out, I wonder if I can talk them into tossing a hitch into the mix on a new car...especially if I get the Soul. I really like the Mini Cooper, but that is probably just too small for me these days and probably too expensive.

Good to know about the road noise on the Fit - perhaps that is better in the 2011 model? Decisions decisions, but tonight I am riding my bike so I won't go on any test rides until tomorrow evening or Friday.

[Blueberry]

Keep a close eye on blue book. From what I've heard (from the news....) used cars are currently in very high demand and blue book may actually be underestimating values. YMMV - but I would definitely get a couple of trade prices for your car from different sources.

[Catrin]

Colorinst - does the rear seat fold flush to the floor on the Soul? I just had a Honda salesperson tell me it doesn't, but my understanding is different.

I do like Honda's reputation for reliability, but Kia has certainly improved over the years... I've an appointment to check out the Soul! tonight, and Friday morning will test ride the Fit. Then we will see what we shall see, and find out if a good deal is possible.

[indysteel]

Keep a close eye on blue book. From what I've heard (from the news....) used cars are currently in very high demand and blue book may actually be underestimating values. YMMV - but I would definitely get a couple of trade prices for your car from different sources.

Or try to sell it privately....

[Catrin]

Yes, I am considering all of my options. Frankly it would have to be a fantastic deal for me to do this, but a zero or 1% interest rate would do it, right now my interest rate is rather higher than that... They would also need to toss in a hitch for a bike rack We will see, and I do appreciate the advice and comments. Am just working to keep a steady head about this.

[indysteel]

Yes, I am considering all of my options. Frankly it would have to be a fantastic deal for me to do this, but a zero or 1% interest rate would do it, right now my interest rate is rather higher than that... They would also need to toss in a hitch for a bike rack We will see, and I do appreciate the advice and comments. Am just working to keep a steady head about this.

If a lower interest rate will ease things for you on a monthly basis, then I understand what you're hoping to accomplish. My biggest concern--being the fiscally conservative person that I am--is the downside of extending the period you have a car payment, interest rate and amount of monthly payment aside. Owning a car out right sooner rather than later is generally a good thing. The other thing I'd consider is resale value and overall cost of ownership. Which car holds its value the best and has fewer maintenance costs?

[withm]

The new car may have a higher insurance premium thus canceling out any savings on interest or the monthly payment.

Not to mention paying sales tax again on the new car, and registration fees?

[Catrin]

Indy - you nailed what I am trying to do. This is one of the reasons I posted it here because I figured those who are more conservative than I would remind me of those extra things I need to keep in mind while I make up my mind. I've been toying with this idea for some time, and it is worth exploring. I've started a spreadsheet at home where I can compare everything. I am trying to get better in my old age

Good tip about the insurance rates Withim, I will add that to my spreadsheet and find out if my rates would go up - right now I pay <$600 year for full collision and comprehensive - and I don't have the minimum coverage.

[LivetoRide]

We own a Honda Fit (2011 model), too. It's great for hauling around bikes (I've seen photos of Fits that have fork mounts mounted in the cargo area so that two bikes can sit upright in the back with the front wheel(s) removed). It's a small car but well configured. So, in addition to the rear seats folding back, the rear seats also can flip up to allow for taller objects and whatnot to fit more easily. It gets good mileage, and thus far we haven't had any real issues with it so it's all good.