Clunker Dilemma

July 27, 2009 | By | 1 Reply More

Back when our “new” car reached the age of 10, we considered buying something more up-to-date. But then the economy tanked and we postponed.

I also am holding a rarely used “old” car that is 17 years old. It qualifies under the new Clunker Bill, wherein it is worth $4500 in trade in. I’ve put about $4,000 into it and driven it nearly 1,000 miles since I bought it for 2 grand in 2005. Not a very good deal. But it is only worth about $2,000 according to Kelly Blue Book.

We obviously don’t really need a second car, but it does seem like a good time to buy. So, do I save money by selling the old car off for maybe $1,500 and cut my losses? Or should I invest in a new “new” car that qualifies for the trade-in and relabel our “new” car as the spare?

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Category: Consumerism, Economy

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A convoluted mind behind a curly face. A regular traveler, a science buff, and first generation American. Graying of hair, yet still verdant of mind. Lives in South St. Louis City. See his personal website for (too much) more.

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  1. Ben says:

    Even with the rebate, a new car will be a waste of money, still pushing 20k. You should be able to get a reliable used car for 3-5k.

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