High Mileage LGT, should I sell?

I have a late 05 (September 05) Legacy GT with JUST under 60k miles on it. I drive close to 30k miles/year, and will continue doing this for the foreseeable future. The dealership just recently offered me $17k for my car, and I wonder sometimes if I could get a little bit more for that on the private market. It is is mint condition other than a slight scratch on the front bumper and knick on the drivers side rear door. I paid $21k for the car a year ago, and it has the extended warranty to 100k, which IS transferrable apparently.

 

At the rate I rack up miles, I'm wondering if the depreciation of the car is linear, or inversely exponential? Should I get rid of it now, and get another used (07 or 06) LGT, or should I hang on to this car. I am wondering if by getting out of the car now, and into a newer one will save me some depreciation, instead of hanging on to this car another year or two, and trying to sell it when it's got 100-120k miles on it, will it be worth $12-14k then, or under $10k?

 

Any advice?

I'm no financial analyst but I really don't see the point in you selling your car in favor of a slightly newer one.

 

Typically speaking, the first few years experience the most depreciation so you'll basically be spending big bucks for a car which looks and drives the same as your existing one.

 

Is your car paid off? If you're concerned about the mileage on your car, maybe you should get yourself a beater like a 1991 Brat or something...

You are better off financially if you hold on to it. Consumer Reports did a study. Besides if you are driving it 30k a year I'd bet most of them are freeway miles. Subaru has an excellent track record for reliability. I say drive it to 300 and sell it in 2015!

 

http://www.chathamjournal.com/weekly/living/autos/cr-high-mileage-cars-save-money-70911.shtml

Hold 'em.

17k trade-in for 60k mile 2 owner Legacy is a AWESOME number.

 

Especially if you can cash-in the warranty.

 

Now, the question is for how much you can get a newer one.

I've never had much luck with what a salesperson says he'll do, and what happens when it comes to "go time." Even if he did get you what he said, he'd probably adjust the price of the car you'd be acquiring to compensate for keeping his word on that.

 

If you do decide to sell the car, sell it yourself. It's not hard, and you'll get more money.

 

I would recommend that you keep the car you have now, unless you really need to have the newer features available on the newer model. The depreciation is MUCH higher the first year anyway.

 

The only reason I'd get a replacement ride, in your case, is to get something that gets better mileage. Our cars don't get the best mileage, by a long shot.

Never get rid of a good ride, whether it's a car or a woman, that you are happy with, that treats you well, that you can count on, that still looks good, and is reliable, even if they are starting to rack up some miles. Neither is as easy to replace as you think, and chances are good that you will regret your decision later. And oh yeah, prematurely dumping either of them will cost you money!

If you plan is another LGT, definite no. It will cost you lots of money with no tangible benefits like improved mileage.

 

Your car is leading a very easy life assuming nearly all highway in the 30k. Keep it for the long haul to a minimum of 150k if not 200k. 150k is only three years away if it feels far away.

You are better off financially if you hold on to it. Consumer Reports did a study. Besides if you are driving it 30k a year I'd bet most of them are freeway miles. Subaru has an excellent track record for reliability. I say drive it to 300 and sell it in 2015!

 

http://www.chathamjournal.com/weekly/living/autos/cr-high-mileage-cars-save-money-70911.shtml

If so get a diesel something or other ( EG new 300 Benz , Jetta ) drive it for 300K and make money.

 

Beat me to it. At 30k miles a year, some VW TDI that will let you rack up 40-50mpg easy on the highway in comfortable cabin would be the way to go.

Never get rid of a good ride, whether it's a car or a woman, that you are happy with, that treats you well, that you can count on, that still looks good, and is reliable, even if they are starting to rack up some miles. Neither is as easy to replace as you think, and chances are good that you will regret your decision later. And oh yeah, prematurely dumping either of them will cost you money!

well put

Subarus are meant to have alot of miles on them.