I'm looking for something new with a 4 cylinder engine. We have the larger SUV so I really need something that can get good gas mileage and not be too expensive. I've looked at a lot of models, even hybrids and I think I have it narrowed down to a 2013 Hyundai Elantra Limited:
The TL is PAID OFF and I think I can get at least $10,000 for it. It has navigation which adds a little bit more to the value and it also has 10,000 miles left on a Acura Certified Warranty (covers everything). I could also sell it on my own and probably get a bit more but that's always more of a hassle. It's easier to just hand over the title to a company and get a check right away.
The Hyundai would be brand new and I want to get it with navigation, proximity key entry and push button start. I think I can drive out somewhere around $23,000 with tax and title so I would be looking to finance $13,000. The goal would be to finance the full amount and then make the $10,000 payment to save on interest and to pay it down faster.
What do you think I should do? Keep the paid off car and avoid debt or finance a brand new car and save on gas?! The TL will eventually need some maintenance but could easily last up to 150,000 without major issues.