I just want to make the best decision financially, so I thought I would ask everyone here to get opinions on what to do.
I currently have a paid off 2015 Lexus IS250 F-Sport. I really like the car, but it's actually not that nice to drive, maybe too stiff, or I'm getting old, I don't know. I checked around Autotrader and if I try to sell it on my own I can probably get $17k-20k. My plan would then be to pay cash on a 2021-2023 Hyundai Elantra Limited.
Our plan is to FIRE in 2029, so I will only have this car for the next ~5 years.
I did some research on resale of a 14 year old Lexus vs. a 8 year old Hyundai and the prices are really comparable. It doesn't look like I'll lose much money no matter which car I go with. If that is true it looks like my main savings will come in gasoline. The Hyundai has a LOT better MPG and I can use cheap gas, whereas the Lexus I need to put Premium gas.
Is all of this hassle worth it to just save 5 years worth of gas? I guess the Hyundai will also have all the new technology too.
Let me know what you would do in this situation. Thanks for the help, let me know if there are any questions. submitted by /u/Poseidon2027
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I currently have a paid off 2015 Lexus IS250 F-Sport. I really like the car, but it's actually not that nice to drive, maybe too stiff, or I'm getting old, I don't know. I checked around Autotrader and if I try to sell it on my own I can probably get $17k-20k. My plan would then be to pay cash on a 2021-2023 Hyundai Elantra Limited.
Our plan is to FIRE in 2029, so I will only have this car for the next ~5 years.
I did some research on resale of a 14 year old Lexus vs. a 8 year old Hyundai and the prices are really comparable. It doesn't look like I'll lose much money no matter which car I go with. If that is true it looks like my main savings will come in gasoline. The Hyundai has a LOT better MPG and I can use cheap gas, whereas the Lexus I need to put Premium gas.
Is all of this hassle worth it to just save 5 years worth of gas? I guess the Hyundai will also have all the new technology too.
Let me know what you would do in this situation. Thanks for the help, let me know if there are any questions. submitted by /u/Poseidon2027
[link] [comments]