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Discussion Starter #1
Hey there XV community, I’m looking for some advice. I have a grey 2017 XV that just hit 80,000 mile marker. It will be paid off end of spring, early summer. I’ll be going off to college in August and I’d like something fresh with very low mileage so I don’t have to worry about any issues. Should I wait a few months and get it paid off completely before looking at a newer gen XV, or do I sell/trade it now while it’s at 80,000. I believe the KBB value is what my car is at as far as how much I have left to pay. $13,000 left. But by time I pay it off in a few months, it will have 100,000 miles on it due to traveling to my national guard unit in Virginia once a month before I move from NY to go to college in August in Virginia. What the best decision here? Thanks.
 

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Sahuarita, Arizona USA 2019 Crosstrek Limited
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A paid-off 2017 Crosstrek with 100k miles sounds like a damned-good college car to me. Instead of buying a new car and thereby going back on the car loan treadmill, bank whatever car payment you would have made on a new car and use the savings as an emergency fund for car maintenance or unexpected college expenses. BTW, my niece's college car is a 2010 Forester with almost 220k miles.
 

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2020 Crosstrek Premium
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This thread has similar discussion:


TLDR My opinion is that trading in a three year old car with 100k miles is not the best choice. But it depends on your financial priorities I guess. I would suggest that you do the calcs for what each option would cost you over the next five years. The difference in cost would be important information.
 

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Discussion Starter #4
I appreciate the responses. I purposely took a year and a half of life after getting out of the military to payoff a car so I could go to college and for the next 10+years post college I would have something nice and not worry about vehicle issues. But if I keep the 2017 I’m modifying it and that will cost almost the same or a little less than paying the difference on a new to fairly new XV.
 

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Save your money and drive the XV into the ground.

NOT having a car payment will free up a few hundred bucks every month, that you can use for what you want, even if it is just for a bigger down-payment on a new Crosstrek when the time "really" arrives.

Your also playing "games" with your thought process. There is no need to modify your current one. You just want to. I get that. In which case, I'd bet you would want to modify a new one if you bought it, which would be even more money out of your pocket, so your not saving money by buying a new car, your just looking at taking on MORE debt.

Treat yourself like a business.

You are working hard to pay that debt off. Take advantage of the benefits that will offer you. Even if it's only a year or two. That will serve your personal bottomline better than new car smell. Put the money toward your school debt, a down-payment on a house/car/what have you, into a retirement account, or just save up to buy all the parts you'd want to put onto the new Crosstrek you know you will buy in a couple years. Then when you get it, you can make it how you always wanted it instantly.

That's my 2-cents.
 

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Vancouver, BC, CGK 2018 Ltd EyeSight
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Have to remember, too, that the greatest depreciation happens to a newer car. So the longer you keep it, the less depreciation per year will happen. Hence trading it in prematurely is the worst case financial situation.

On a known reliable car brand, the only good reason for trading it in early is to get the latest tech and style of the new models. But certainly not to save money.
 

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I concur with the general opinions given here. I’m driving a 16 currently. I’ve got about 45k on mine. One of the reasons I bought it, was because of the reputation of reliability and inexpensive maintenance. I plan on keeping mine indefinitely. I’ve seen the new model, and don’t see enough difference to make me want a change. Plus, I’m totally satisfied with mine. It sounds like you’ve made some very responsible decisions in your life. Also thanks for your service. You may find that you drive less, once you start college. You may also find that Subaru comes out with something really cool in the future? Best wishes for whatever you decide.


Sent from my iPhone using Tapatalk
 

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Which would really make YOU happy?

Something newer sooner?
Or, some breathing space after discharging the loan and to enjoy yourself a little while you're committed to college?

Personally I'm in the "run it into the ground camp" 17+ years >200,000 my last 2 cars without any real problems.
Now I'm really enjoying driving the new XV and all it's features so I can see why an upgrade would be attractive to you sooner.
 

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I appreciate the responses. I purposely took a year and a half of life after getting out of the military to payoff a car so I could go to college and for the next 10+years post college I would have something nice and not worry about vehicle issues. But if I keep the 2017 I’m modifying it and that will cost almost the same or a little less than paying the difference on a new to fairly new XV.
Modifying it how? The Crosstrek will always be what it is. If you're looking for power trade in on a WRX.
Yes, on paper trading it now isn't wise, I agree. But peace of mind + having what you want is probably worth a bit of negative equity once. Just don't make it a habit.
 

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It sounds like you have no equity in your existing car. It also sounds like money is not a big factor.

If you're not pinched for cash, buy new, buy a loaded Limited and trade every 2-3 years.
 
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