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Car shopping sanity check

Scorp

Scorp

Lacking competent adult supervision
Albatross 2024 Club
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I'm looking for some sage and sane advice. I'm torn between 3 decisions right now. I'm not looking for a push one way or the other, just advice.

My daily driver is a 2011 Taurus. It's got 138,000 miles on it. It has no mechanical issues. It's paid for. But I want something else. Like an Ecoboost Mustang. Used most likely. 2017 or newer, low miles, leather interior, manual transmission. Color preferably not black or white. (Yeah, I've kind of thought about it... I had one in 2017 but it was wrecked and I want another one)

I don't know whether to trade my Taurus in on it or not. If I do trade, and something happens to the Mustang then I got nothing.
If I don't trade it in, I can use the Taurus as backup in case of bad weather or whatnot and not risk the Mustang.
My commute is around 25,000 miles per year.

The sane side of me says "keep the Taurus, it's a good car. You still like it. You can rotate it with the Mustang and save miles. They both get similar mileage..."
The less sane side of me says "trade that car in, get the Mustang."
The practical side of me says "don't do anything. You don't need a Mustang."

First option - trade
Second option - don't trade
Third option - don't do anything, you don't need a new to you car. I'm fine with this for right now too as I can wait for car prices to drop.

I don't know what to do.
 
You’re in South Carolina, right? Trade in the Taurus and drive that Mustang every day with a smile on your face! 😁
 
Cars like golf clubs? They work, don't need new ones, but it's always nice to have a new shiny? :cool:
 
Have you considered selling your car instead of trading at the dealer? Carvana and CarMax might offer you more cash than the Ford dealer.
 
First off you won't got nothing, if something happens now - what you got (eg: any backup to the Taurus?). So if the next car is in the shop you get a loaner or wreck it you get a loaner.

What will cost to insure that extra (seldom used) car?
What will the added upkeep be?
And the extra batteries (from never doing what you say and letting it drain from lack of use).

Me, I would get a new/replacement car that makes me happy. And no issues or not, 138K miles on a 12 year old car - that won't last forever!

I've got 96K on a 2015 - I hope to dispatch in 12 to 18 months myself - please car builders come out with a decent plug in hybrid or all electric rag top that does not cost an arm an leg. PLEASE!

Stay well my friend - do what makes you happy - you deserve to be happy. If it's a car, a trip, whatever.
 
You could also do option 2B, which is keep the Taurus and see if you actually drive it over a 3-6 month period. If you do, you could keep both and spread the miles between the two. If not, sell the Taurus privately and drive the Mustang. Downside is you have two vehicles to insure and maintain. Not sure if the extra cost is worth it or not. Personally, I would end up driving the car I really wanted and the other would just sit there, so it would be an easy decision for me.

Also, I don't know what the tax laws are in SC, but in GA, you only pay tax on the difference between the price of the new car and the trade value of the old car. Sometimes that can add up to decent savings, so another thing to consider if the taxes are the same in SC. Not sure about that part though.
 
If you can get past having a car payment, go for it.

I'm in the same boat as you. My 2015 Tahoe is paid for and has 98K on it. It runs well. But, I want something new, or at least new to me.
 
Hold Taurus for a while to see if prices drop on used vehicles. We're heading quickly toward a period of stagflation; prices will remain high through that period, and then start dropping as demand continues to plummet. (My 2-cents anyway)

I just spent $1300 on my 2011 Mazda CX-7 with 106k miles - I'm moving to Cabo in September and I plan to pamper and drive that as long as she'll last!
 
2011 138K Taurus - you're going to get a pittance for a trade-in; no way.

Keep it - keep it maintained well and clean; post it on TURO and make some free money from visitors to your locale! And it will be there if/when you need it.

Get your other car - the money from Turo will help with the payments!
 
I agree with the others on keeping the Taurus for a few months to see if you use it. I'd also look hard at the cost of keeping it versus selling or trading it.
 
You won't get much if you trade Tarus, sell or keep as a backup. Get the mustang if you can find one.
 
I would keep the Taurus if it works well, but I'm also a person who will just drive a car until it's done. I dislike payments if I don't need to have them.
 
JW Smoove said:
First off you won't got nothing, if something happens now - what you got (eg: any backup to the Taurus?). So if the next car is in the shop you get a loaner or wreck it you get a loaner.

What will cost to insure that extra (seldom used) car?
What will the added upkeep be?
And the extra batteries (from never doing what you say and letting it drain from lack of use).

Me, I would get a new/replacement car that makes me happy. And no issues or not, 138K miles on a 12 year old car - that won't last forever!

I've got 96K on a 2015 - I hope to dispatch in 12 to 18 months myself - please car builders come out with a decent plug in hybrid or all electric rag top that does not cost an arm an leg. PLEASE!

Stay well my friend - do what makes you happy - you deserve to be happy. If it's a car, a trip, whatever.
Click to expand...
Yeah, I'll have nothing if the Mustang gets wrecked. I'll have traded the Taurus in and I'd have been driving the Mustang with a smile on my face.:D Well... maybe I will have something... if I get more than I paid for my Taurus and apply that to the Mustang... and the insurance company values it above what I paid for it I'd have a check for several thousand dollars... so there's something.

I'm not overly concerned about increased insurance cost... the more vehicles I insure the less I pay. I think. Group discount and all that.

Backups to my daily driver? Yes. I've got a "gas suckin' pig" of a pickup truck. It's not driven much because gas isn't cheap. But it's not being traded because I use it for the Home Depot run, run my trash to the landfill, and it tows my trailer when I need that.

I've got my late wife's CRv... It's new and has very low miles. And I'm not trading it in. Emotional and sentimental attachment.

I'm trying on the happiness. It ain't working right now. Too many things unsettled...
 
I understand perfectly. With all those cars, I would sell the Taurus on my own (no hurry right - so you can take time and get your price). You have a back up with the CRV and truck. And still if it's wrecked (the mustang) you can get a loaner for nothing or next to nothing - until you replace or repair or something.
 
3!

 
Fun me - get the Mustang.

Not as fun me - drive the Taurus until the wheels fall of and car prices have gone down. Then get the Mustang!
 
Spear the Taurus and get the Mustang if you really want it. In reality you have 2 back up vehicles if something happens to the daily.
 
captaincaution said:
Have you considered selling your car instead of trading at the dealer? Carvana and CarMax might offer you more cash than the Ford dealer.
Click to expand...
I'll second this. I'd almost guarantee you get more selling your vehicle privately or to one of the above mentioned companies. I know last year when we were looking at new vehicles for my wife and stepdaughter that Carvana's initial offer was better than the dealership. We wound up just trading in because we still did fine and there were some small issues that I didn't know how they would play out, but it was seriously considered.
 
I'd say sell the Taurus on your own. I doubt you'll get much trade in value, though you may want to see the breakeven of private sale vs. trade in + savings on sales tax (if it reduces the taxable amount in where you live).

I haven't gone into any car purchase thinking about the off chance the new car is out of commission. I feel like the added cost of insurance, maintenance, etc. over the next couple of years is probably more than renting a car for a few days in the event the mustang ever has issues. I'm also a big proponent of enjoying what you buy and why not enjoy the mustang every day 😁
 
I'd say third option. You don't need it and car prices are just outrageous right now. Wait a while and see what happens with this crazy economy.
 
Just trade the Taurus and enjoy the Mustang. You can't take it with you and you only live once. Selling private (imo) is too much hassle for the little extra you would get for that particular car.
My motto is enjoy today the best you can as long as it doesn't bankrupt you tomorrow.
 
I would say either keep the Taurus and do nothing for now, or sell the Taurus and then get the Mustang. I wouldnt expect you'd get much trading, and likely could get more if you sell it, if you are willing to do the work to sell it.

Good luck whatever you do!
 
Catch 22. Given the market you are likely to get a good dollar for the Taurus, but on the flip side you're going to be paying a premium for the Mustang.

I personally believe if you go the Mustang route you won't want to drive the Taurus anymore, so you might as well maximize the returns on it as part of the Mustang acquisition. Whether that means trade or private sale is a toss up.

The sad reality is that while we all look forward to the day that our vehicle is paid off, most of the time that means it's at a point where the maintenance costs are high 😕

Life is short - do what makes you happy!
 
mson said:
I'd say sell the Taurus on your own. I doubt you'll get much trade in value, though you may want to see the breakeven of private sale vs. trade in + savings on sales tax (if it reduces the taxable amount in where you live).

I haven't gone into any car purchase thinking about the off chance the new car is out of commission. I feel like the added cost of insurance, maintenance, etc. over the next couple of years is probably more than renting a car for a few days in the event the mustang ever has issues. I'm also a big proponent of enjoying what you buy and why not enjoy the mustang every day 😁
Click to expand...
You've got some good points here and it's something for me to think about. I'm in no hurry for anything right now. I've got plenty of time to wait and see...


I've also got 2 other drivers in my household. While they each have their own vehicle, the CRv and my truck are available as needed for backup for them as well. So there's that too.

And I know it's being extremely pessimistic to think about a new car purchase at the same time as losing it but... I had a mustang a few years ago. I had it for 6 months and it was totaled when someone pulled out in front of me.

I dunno. I say there are no mechanical issues with my Taurus right now but the miles are creeping up and that's only a matter of time. And I've always heard, save your car payment even when you don't have one to prepare for breakdowns or a down payment on a new one.:(

It struck me earlier when I was driving home from work... I'm going to keep the Taurus. There's nothing wrong with it, and I'll just watch the prices on used mustangs... when they start dropping below $32,000 for a 2016 with 130,000 miles on it, I'll look closer.:eek: Because ultimately, I want a Corvette. And the mustang will be traded in on that... and, considering I'm here in South Carolina where it can get in the 20's in the winter I'll want something that doesn't have summer tires on it in the winter. I've heard that summer tires are like slicker than snot at temperatures below 35 degrees.

Or maybe it's fear of change. I'm a stick in the mud. There's been a LOT of change in my life since the end of March. I think I'll wait for the whirlwind to subside a bit before I do anything.

I appreciate the suggestions and information. I really do!:D:D
 
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