I purchased my Jeep Grand Cherokee Overland (that means it has a hemi engine) about 2 1/2 years ago. We financed it for 70 months and owed more on our current car than it was worth so that was factored into the new loan. My payments on the jeep are $610 a month. So now the trade in value is $18,000 (ish) and I still owe $28,000. The car wasn't the best decision for many reason but one being I drive at least 50 miles a day (to and from work) and it gets about 13 mpg. I recently found a diesel station wagon I like that gets closer to 30 mpg and it's $15,000.
My question is: Do I keep the Jeep until it's paid off or do I buy the wagon and add what I owe to the loan? My thought is my payment will probably be the same but I will be saving way more money in gas.
Thanks in advance for your advice/suggestions.
Submitted September 24, 2018 at 09:48AM by sonotgoodatmath https://ift.tt/2Dppion
