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DH and I are trying to decide if we should keep repairing our car or get a minivan.<br><br>
We have a 2000 Maxima with 143K miles and it is in need of $2500 of repairs, it is worth $4K total according to KBB. $500 in immediate, cannot put off, $1000 is should do now and the rest is maintenance that we will need to do if we are going to take any serious road trips in it (we will be taking 2 long trips in Sept.) Last summer we spent $1700 repairing it, plus a few more minor things throughout the year.<br><br>
We have been looking at used Honda Odysseys. Online we have seen Ex-L (which is the model DH desires) 2006-2007, with 35K-45K miles for about $22K. If we get $4K for our trade in our payments would be about $350. Now I don't know how trade ins work, Edmunds.com estimated our trade in value at $4K, is that really what they will give us if it needs these repairs? Do they look at the car before they offer a trade in value? OUr only money down right now is the trade in. Financing would be through Penfed at 3.99%, so not bad.<br><br>
So what would you do in this situation, buy a minivan or keep the money pit? BTW, we have to put Ultimate gas in the car, the maxima and the minivan get the same gas mileage. We are only thinking minivan because we have a great commuter car already (civic hybrid), baby #2 is almost here, and DH carpools to work with 2-3 other people so that means when he drives he is going to have to take out at least 1 baby seat every time unless we have a minivan.
We have a 2000 Maxima with 143K miles and it is in need of $2500 of repairs, it is worth $4K total according to KBB. $500 in immediate, cannot put off, $1000 is should do now and the rest is maintenance that we will need to do if we are going to take any serious road trips in it (we will be taking 2 long trips in Sept.) Last summer we spent $1700 repairing it, plus a few more minor things throughout the year.<br><br>
We have been looking at used Honda Odysseys. Online we have seen Ex-L (which is the model DH desires) 2006-2007, with 35K-45K miles for about $22K. If we get $4K for our trade in our payments would be about $350. Now I don't know how trade ins work, Edmunds.com estimated our trade in value at $4K, is that really what they will give us if it needs these repairs? Do they look at the car before they offer a trade in value? OUr only money down right now is the trade in. Financing would be through Penfed at 3.99%, so not bad.<br><br>
So what would you do in this situation, buy a minivan or keep the money pit? BTW, we have to put Ultimate gas in the car, the maxima and the minivan get the same gas mileage. We are only thinking minivan because we have a great commuter car already (civic hybrid), baby #2 is almost here, and DH carpools to work with 2-3 other people so that means when he drives he is going to have to take out at least 1 baby seat every time unless we have a minivan.