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I'm turning to the collective wisdom of the board on this one.
We have two cars that we need to because we both work. Each car has about $5,500 in payments remaining. One is a 2012 Equinox. It has $6,000 in remaining payments. The other, a 2010 GMC Terrain has $5,000. The Equinox has about 96,000 miles on it and the Terrain has 108,000 miles. The Terrain also just had the transmission rebuilt and will need a new AC compressor soon. Other than that both vehicles are working fine. The Equinox has 97,500 maintenance coming up, but works fine otherwise. As some of you know, we ended up moving to Atlanta about a year ago. My wife was relocated there and we pulled up our roots and made the move. There was a lot of back and forth until I found a job in Atlanta. (In case anyone's wondering, the move has been awesome for both of us career wise...but yeah...still trying to adapt to Atlanta, I miss NOLA.)
Here's my question. Is it concerning that both cars have high mileages? Should I trade one in now or sell it? And if the advice is to sell one of them, which one would you part with? I've never been in this predicament before. If a drunk driver wouldn't have prematurely ended the life of my last car, we would've never had 2 notes simultaneously. I'm just worried about the long term value of each. Thoughts? thx
We have two cars that we need to because we both work. Each car has about $5,500 in payments remaining. One is a 2012 Equinox. It has $6,000 in remaining payments. The other, a 2010 GMC Terrain has $5,000. The Equinox has about 96,000 miles on it and the Terrain has 108,000 miles. The Terrain also just had the transmission rebuilt and will need a new AC compressor soon. Other than that both vehicles are working fine. The Equinox has 97,500 maintenance coming up, but works fine otherwise. As some of you know, we ended up moving to Atlanta about a year ago. My wife was relocated there and we pulled up our roots and made the move. There was a lot of back and forth until I found a job in Atlanta. (In case anyone's wondering, the move has been awesome for both of us career wise...but yeah...still trying to adapt to Atlanta, I miss NOLA.)
Here's my question. Is it concerning that both cars have high mileages? Should I trade one in now or sell it? And if the advice is to sell one of them, which one would you part with? I've never been in this predicament before. If a drunk driver wouldn't have prematurely ended the life of my last car, we would've never had 2 notes simultaneously. I'm just worried about the long term value of each. Thoughts? thx