[spacemanspif]

Originally Posted by mikeyjd

You should also factor in investment opportunity lost by keeping the money tied up in the Cruz. That money could be grown in appreciating asset and be doubled in 5 years if things went well. My 2 cents. Good Luck!

What money? He is planning (hoping) to sell the Cruz for $10.5k, use the money to pay off Cruz and take the rest to buy a Honda outright. Leaving little, if anything, left to be invested. I'm not one to wheel and deal cars and would rather have a car I know the service history on than take a step backward into an older car that could result in becoming a money pit. I say stay the course, especially since the Chevy shouldn't cost you anything in maintenance for a long while. Higher insurance does suck, have you tried shopping around for a new company lately?

That being said, I love owning my cars. I buy them cash and never have to worry about losing one because I don't have money to pay my payment this month and save on insurance by carrying basic coverage. I should note that my Saturn cost $1,500 and my Focus just cost me $1,100 so I'm at a little bit of a different price point...