Situation:
Work in the auto industry in BC Canada (20M). Just got a promotion to a new position that will offer 20/hour+ with LOTS of room for increases. I currently have just shy of $40k in savings.
A salesman I know asked me if I'd be interested in a trade-in he has coming in, a 2015 Mazda3 Sport GS with one small claim on it (Fender bender, covered by previous owners insurance to be fixed in full).
The trade in allowance is $8k, and I can buy for $10,000(+tax). I have a car that can likely get 3.5k and can somewhat comfortably pay for the rest without any debt.
My concern right now is that I have a car that runs well and am not sure if buying pretty much new is financially worth the money. I believe insurance will be less or the same so future monthly bills will not be affected. I'm also unsure about servicing a new car compared to old.
Any and all advice welcome!
Submitted August 23, 2017 at 12:17AM by Cilviper http://ift.tt/2vWzMpm
