I have a 2003.5 and it is quickly approaching 100k miles. I have had no problems and it is still goin strong. The only thing is that I know the resale value is dreadfully decreasing as the miles keep adding up. I have gotten it appraised and can trade it in for about $12k, or can try to sell privately and get $14k, if lucky. I still owe about $17k and wanted to see what you guys think the smartest thing for me to do is. I really want to trade in for an 07 G35 or a pre-owned 06 M35, but I will be going belly-up bigtime.

Should I just go ahead and take the hit while the car has some type of value left? Or should I hold onto it until it's paid off (in about a year), and sell it then, but will have at least 120k miles in it? Help me!!

 

Sell it after its paid off... It will not depreciate too much more between 100-120k miles. You've already pretty much taken the big depreciation hits. I think you would be better off selling after its paid off.

 

If you have maintained it properly, why sell when you pay it off? The drivetrain is good for 250K at least. Then increase the deductible to lower the ins. premiums. Use the extra monthly cash to play or buy I-bonds or something.

Lesson is, don't buy new next time. VERY tough not to be upside-down after years of sending checks to the bank. So many people are in perpetual car debt mode. Buy things that appreciate, rent or lease things that depreciate.

 

Keep it as long as you are still happy with it.

 

Keep it. A trade in will leave you upside down. Just do some routine maintenance ie: Timing belt, valve adjustment, tranny flush etc.

 

G's dont have a timing belt, they have a chain that will 99.99% of the time outlast the entire car. But yes, do all the scheduled maintenance and the car will run strong for over 200K miles.
-GP-

 

yeah definitely keep it if it's running like a champ. it's a decent car and soon it'll be like one of those 91 honda accords that are in tip-top shape with 280,000 miles on the clock and still running strong. and like the other guy said: drop the insurance a little if it's depreciating and invest/save it up for something else. like a downpayment on the new GT-R.

 

If he still owes $17K, it will be worth MUCH less than it is now by the time it's paid off (assuming he's just making the standard monthly payments on the loan).

If you're concerned about money, you have a couple of choices as I see it and selling it after it's paid off isn't one of them. If you owe $17K now and sell for $12K, you're down $5K. If you pay $17K over the next few years and can only sell it for $8K by then, you're out $9K. Your choices as I see it are:

1. Keep it until you drive it into the ground
2. Get out now and do NOT get something else that's going to depreciate just as quickly (ie, don't get another Infiniti).

 

wait wait...no timing belt on G???? you learn something new everyday

 

It's going to be paid off in a year yet you still owe 17K? How long did you finance it for?

 

Keep it!!!!!!!! I will be keeping mine until it dies, I love this car!!!!

 

Of course, the depreciation on a new car over the next couple years will be significantly greater than the extra $4K. So, depreciation/year is lower the longer you have the car. Also, factor in likelyhood of more repairs.

My thinking is that if you get tired of a car after only 3-4 years, it probably isn't as good as it should be Though with 98K miles, he has got a lot of use out of it in 4 years. My 04 has just over 34K miles in 3+ years, 1K of it the last week driving to Vegas, another 1K coming later this week heading back home.