What would you do?

[woyster_00z71]

Alright...I need some opinions on what to do about my current vehicle. I didn't know where to put this, so "Off-Topic" it is. If you think this would fit better in another forum, let me know.

 

I don't know what the most logical choice is here. Is it best to keep a 5 year old vehicle with 75,000 miles on it and no warranty that you still owe $10k on and will continue making payments for another 2 years (my 2007 Chevrolet Avalanche)? When you put it in writing, it sounds like no. Or is it best to trade it in on something new or possibly lightly used? With the cost of new cars these days, invariably the cost per month is going to be higher no matter what I do, especially because I don't want a bottom-of-the-line model, and that bump in payment may not be doable financially. But I'm bored with mine and it needs some modifications to respark my interest (you may have seen some of my other posts about wheels & tires, exhaust and/or painting the front grille).

 

I know this is a GM-Trucks forum, but I really want a Camaro. Would I like to have a Camaro...hell yes. But does that make sense? With the amount of hauling and towing that I do I would have to say no but ultimately the Camaro is what I want. I frequently fill the bed with crap from Home Depot, or Sam's Club, or where ever and would have to pay for delivery or borrow someone's truck to get some items. I also have two waverunners on a dual trailer that I tow with my Avalanche. I would either have to sell the waverunners or I would have to trade the wife's Traverse in on something else with a towing package since the towing capacity isn't adequate with just adding a hitch. Without the Avalanche I couldn't rent a trailer to do anything. I remember back 5 to 7 years ago when my wife had a minivan and I had a Tahoe...all we could talk about was how much we missed, and needed, a truck. But does it make sense to keep a vehicle that guzzles fuel to haul things occasionally (or frequently) and to tow waverunners to an empty Texas lake?

 

What about trading in my current Avalanche on a new Avalanche. Would I like to have a new Avalanche...sure, but not nearly as much as a Camaro. But does that make sense? When you look at the second sentence of the second paragraph of this post, yes. But when you look at the $37k base price for a bottom-of-the-line new one (which I wouldn't want) and the resulting additional cost per month on the payment, I'm not so sure. Plus in two years (if all goes well and I end up keeping my current Avalanche for the full two years) I will have one less car payment. Again a new Avalanche is still a gas guzzler, just a new gas guzzler. But it gives me that vehicle to tow and haul with. Plus if I decide that I want to keep a truck, the Avalanche is still my choice and since 2013 is the last model year it will be made why not get a newer model.

 

In either case, my wife has made the argument that she doesn't want me to put money into my current Avalanche unless I am going to keep it for the unforseeable future. However, either a new Camaro or a new Avalanche would still need modifications right from the start. Each would need an alarm. Each would need window tint. I REALLY like HD radio and I don't think either would come with that. I just put an aftermarket HD radio in my Avalanche, but I'm not sure I would pull the stock radio in either new vehicle and replace it with mine because the stock radio in a non-base-model vehicle will probably be nice...so that means an add-on HD radio solution (if one exists). I would also like to modify the exhaust (something I've wanted to do to my Avalanche for 5 years now). And both would need black rims. Plus, get rid of the chrome!!! The difference is that I would get years and years of use out of it on a new vehicle instead of an unknown amount of use on my current vehicle. But I can always remove some of the modifications and sell them for extra cash, just not the full amount that I pay for them.

 

I don't know what to do. Does anyone else have an opinion? Anyone have any words of wisdom they would like to offer up that could help out?

[limpalong]

Sit down with a piece of paper and perform the old "T" exercise. On one side of the "T" leg, list the positives for keeping the vehicle. On the other side of the "T" leg, list the positives for trading the vehicle for a newer/different vehicle.

 

Positives for keeping the vehicle:

1. Lower taxes and insurance than a newer vehicle.

2. Paid for in 2 years, allowing "disposable income" for modifications.

3. Lower payments than a new vehicle.

4. "No warranty"? You can make quite a few repairs for the cost of trading up.

5. Using the vehicle as a truck. Can't do this with the proposed Camero.

 

Postives for trading this vehicle for a newer one:

1. I'm tired of this vehicle.

 

 

As you sit down to do your own "T" analysis, include your wife. Working things like this out together are what marriages are all about.

 

Please understand, the above list of positives is from a grandfather who has been married to the same beautiful lady for 45 years and all our vehicles and home are paid for. However, as we raised 3 wonderful children... and had over 100 kids in and out of our home as foster children... we went through some tough financial times. We weathered those times by working together, sometimes... often times... having to swallow our wants and wishes for the good of the family.

 

Good luck as you move forward in making your decision.

[DonnyStevens]

Sit down with a piece of paper and perform the old "T" exercise. On one side of the "T" leg, list the positives for keeping the vehicle. On the other side of the "T" leg, list the positives for trading the vehicle for a newer/different vehicle. Positives for keeping the vehicle: 1. Lower taxes and insurance than a newer vehicle. 2. Paid for in 2 years, allowing "disposable income" for modifications. 3. Lower payments than a new vehicle. 4. "No warranty"? You can make quite a few repairs for the cost of trading up. 5. Using the vehicle as a truck. Can't do this with the proposed Camero. Postives for trading this vehicle for a newer one: 1. I'm tired of this vehicle. As you sit down to do your own "T" analysis, include your wife. Working things like this out together are what marriages are all about. Please understand, the above list of positives is from a grandfather who has been married to the same beautiful lady for 45 years and all our vehicles and home are paid for. However, as we raised 3 wonderful children... and had over 100 kids in and out of our home as foster children... we went through some tough financial times. We weathered those times by working together, sometimes... often times... having to swallow our wants and wishes for the good of the family. Good luck as you move forward in making your decision.

 

+1

I would stick it out with your truck. What’s two years? Then take the $350+ you would pay for a new car and in a year you could dump $4200 in your truck which would mean new advent navi, BB tune, K&N intake, Exhaust of your choice, New rims and tires, weather-tech floor mats and a little in your pocket. That would totally revamp your truck and have no car payment and extra income. As far as the warranty, the odds of you having a catastrophic malfunction is very minimal.

[SparkySparks]

I'm kind of in the same place (only 1 year left on payments) but I've always wished I had bought a 4x4 with a 6.2. I've been offered a good amount to trade my truck in for a new one with everything I want. But like you I would also really like a Camaro so I'm torn on which to get or if I should just stick with what I have. There are a couple of things on my negative side that is keeping me from trading my truck in. The main one being it will be very hard to get as good a deal as I got on my current truck, I would also have to redo all the mods on the new truck which means more money. At this point I have my self mostly convinced to keep my truck and finish paying it off and if everything is still going strong with the truck, keep it and then pick up a Camaro. Being able to get the Camaro would also be dependent on if the wife needs a new car at the time or not.

[TimmyG]

Keep it, $300 or more a month can buy alot of gas

[Wolfmanjohn]

Oh, Man, can I empathize with you! We just came from a '04 'Vette to the '11 truck so we could haul and tow, as well as have a vehicle the kids could use to do the same. As I wasn't ready to give up all things Corvette, I got the 6.2/3.73s. Even though it's hauling 2100 more pounds than the 'Vette's LS1 had to, that truck moves; still plenty of fun to drive.

 

The 'Vette was fun and reliable for the 8 years and 37,510 miles we owned it. When I moved to Chico, however, the scenario changed and the car became a grocery-getter. We would have to rent trucks to do the heavy work, and we were getting tired of that. The wife's Traverse has the HD tow package, but I wouldn't depend on a fwd V6 to do too much hard work. And snow is much closer to us here than it was in the gawd-awful bay area.

 

I guess what I'm saying is that if I were in your position, I would do what I did; try to get the best of both worlds (fun and practicality) and buy a 6.2 crew cab. That 5.3 Avalanche is entering the cusp of the trouble zone, as you note, and it's clear you're not impressed with the way a 5.3 moves a 5900# vehicle. Can't say I blame you; I wouldn't be, either. Besides, there is a possibility the 6.2 may go away in the 1500 line when the new generation trucks come out.

 

Financials; I don't discuss those, because, as mentioned above, that's something you and your wife have to work out and reconcile to your mutual satisfaction, and I pay cash for, and own free and clear, everything I have, so I'm in a slightly different position there.

 

Just my opinion; good luck with the decision that is right and works for both of you.

[redjewel2ss]

if you trade in, why does it have to be brand new? you can get a 1 or 2 year old used one with a warranty for much less! have you thought about a crew cab sierra or silverado? same interior space, but more cargo room than the avalanche. if you do decide to go used, look for an 09 or newer, because they have the 6 speed which gets better gas mileage.

 

this is how i think about it:

 

 

now i'm not saying you have to pay cash for all your cars the rest of your life, but if you got a newer vehicle and set the loan up for the same your paying now, but the term is much shorter than buying new. there will be a couple years you own the car without making payments before you trade up.... again.

[KMGZ400]

one thing i will say is that as much fun as a new camaro may be, you will regret it in the future. yeah it will be badass to fly around for the first few months and roll in style, but it will slowly become a pain the the ass as time goes on. you cant haul 3 people, you can haul more then 2 1/2 boxes, and they are not nearly as comfy as a truck.

 

with that being said, i will have a camaro one day as a SECOND vehicle.

 

 

if you still owe 2 years on the avalanche, i would just keep it. do you really want another 7 years of car payments? i sure as hell would not.

 

another option is to sell your avy and hopefully pay it off and then buy a cheaper vehicle and not have a payment, buying a new car is just dumping money down the drain becasue as soon as you buy a new truck it immediatley looses value. its not like your truck has 250,000 miles, its only got 75,000. it will last another 2 years. things like window tint and a muffler are not expensive at all, if your still paying your avalance off id assume your making enough money for 70$ window tint.

[SouthCo]

I'd keep what you got. Sounds like you like your avalanche but have the itch to get a Camaro. Payoff what you have and then get the camaro. If you get a new avalanche your that much further payment wise from gettting into a camaro. But in the end you have to be happy. If you take your time and dont rush to a decision, you'll be better off.

[waumo1]

You asked,

if you are in a position where you are taking out 7 year loans on vehicles, you can't afford it. Do some hard thinking and cut back your spending and start getting things paid off.

We keep vehicles at least 9 years and usually more like 15, so a 5 year old vehicle is no big problem unless it is trashed out for some reason.

The Camaro is a toy that can wait. If I had to have only one vehicle, it would be my truck for practical reasons.

If I missed the mark, ignore me.

[j-ten-ner]

I'm looking forward to the day my truck is paid of. So much money more in my pocket when I don't have to pay anymore.

It will be enough to put money on the side for repairs due to the age of the truck or modifications.

 

If I don't have the money to fix the truck because of a break down...I don't care 'cause without payments I'll be able to save up the money.

 

A toy like the Camaro (or in my case a '72 Riviera boat-tail ) is a waste of money if you can't pay for it out of the pocket. You can't even drive it like what is designed for. I'll get a boat-tail when I've got the money left over without hurting me. Maybe I'll never get a boat-tail...but I've got a great truck and it's paid for.

 

so long

j-ten-ner

[kstruckcountry]

Keep the avy. No matter what you buy, it'll lose value eventually. Use it up (around here that means 200k miles) then upgrade if you want. Then you could get into a NNNBS if you wanted

[SouthCo]

My '03 Tahoe has just over 189K miles and the most expensive repair was the throttle body because of a bad TPS. Total cost was less than $500 for a new one. The truck runs great. It doesn't smoke or use any oil. I just sold it to my cousin this past week. He really wanted it so I let it go down the road. I guess the Sierra will finally become a daily driver if I dont buy a work beater here soon. So 75K is nothing.

[Shaners]

_{Keep the Av for another 5 years. You will be surprised how much more you love it once it is paid off!}

[woyster_00z71]

Thanks for the opinions. The wife and I thought about it and I think we have decided to keep it. And she has agreed to a few modifications to respark my interest.