Kia Soul. Honda Fit & bikes

[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.

[colorisnt]

Catrin,

It folds completely flat. That salesman is wrong.

[Catrin]

Look what followed me home! Who could resist taking it in this lovely Kia Soul+? The color is also fun, it does come in blue but I didn't like the blue, too blah. I did like my Lancer very much, but this is a fine replacement. They made a far better deal than I though possible, massive reduction in interest rate, monthly payment much lower, even my insurance premiums decreased by $200 for the year! And, I talked them into tossing in a hitch

My Gunnar fits in the back just fine without taking the wheel off, but am still going to get the kind of rack I've wanted all along - the hitch rack with wheel trays. Options are good My Saris trunk rack won't work...don't have a trunk any longer! Will sell it on local Craig's, it would cost too much to ship it.

I did consider the Fit, but in the end I didn't want to return to a small car. I am sure it would have been fine, but I really liked this car and I would never have gotten such a good deal from the Honda dealer. My previous dealings with my dealer really paid off in this transaction. In the end, this was a financial decision and I think it was a good one. I can already hear my budget breathing better - and my gas mileage is starting out higher than it is rated for which is a good sign. Gotta love manual transmissions!

Now time for a little nap, then off to ride my bike