Upgrading vehicles?

[cKGunslinger]

So I'm sitting with a '97 Dodge Caravan that's starting to have mechanical issues (air conditioner compressor gone - had a rather hot commute this August in Texas) and an '08 bare-bones Mazda 3 that I bought new last December. Van is obviously paid off, and I owe $12k on the 3 (financed for another 4 years) and has 23,000 miles on it already.

My thinking at the time was that the Caravan was a good choice for my wife, who only worked 3 days per week, ferried the kids to school, and goes grocery shopping. I'd use the 32mpg Mazda3 for commuting to work.

In retrospect, getting the Mazda3 probably wasn't the best move, as my wife now uses it exclusively due to working 6-days a week and more in-town traveling. I've been taking the Caravan to work on the highway and squeezing about 24mpg from it.

So I was thinking how I would go about "upgrading" to a Mazda 5 or similar vehicle (even a cheap minivan) for my wife and family, and an older, small pickup truck for me. (I've been starting to miss my S10 from high school and realized how much of a hassle it is to be a rural home-owner and not a have a truck at my disposal.) I can certainly handle higher monthly payments than what I've got, but probably not 2 payments.

Should I talk to my Mazda dealer about trading in the 3 for a 5? Obviously I'd lose some money, but I think I could cover the difference with higher payments or an extra 6 months of financing. Or should I try to sell the 3 outright? The problem either way is that it's a standard transmission, no-frills car with 23k miles in a single year. Granted, the standard package includes steering wheel audio controls, and a CD player and AUX input, but no power lock/windows, no cruise, etc.

I think I can probably trade the van straight-up or sell it outright and buy a pickup. I also have about $2k in my vehicle savings account ( formerly a bike savings account ). I see GM doesn't offer any small trucks other than the Colorado (which I hear sucks.)

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Anyway, synopsis:

Have:

• 1997 Dodge Caravan with 140k miles and some problems
  2008 Mazda 3 with standard, no-frills package and owe $12k

Want:

• 2007 / 2008 Mazda 5 or similar vehicle for wife (with auto, cruise)
  2002 or so Tacoma / Dakota / Ranger (or 1500 or so) - $2-4k truck with decent mpg

Any input on best course of action?

 

[Bignate603]

I highly doubt you'll be able to sell a '97 van for anything close to what a decent '02 truck would cost. Resale on older minivans is lousy but resale on old junky trucks stays higher. As long as a truck passes inspection and can haul around weekend project stuff it still has value, even if it looks like complete garbage and smells funny. A van in the same condition would be much harder to move.

Personally, if you HAVE to make a switch I'd sell the van and get a better one or a small SUV.

 

[cKGunslinger]

Originally posted by: Bignate603
I highly doubt you'll be able to sell a '97 van for anything close to what a decent '02 truck would cost. Resale on older minivans is lousy but resale on old junky trucks stays higher. As long as a truck passes inspection and can haul around weekend project stuff it still has value, even if it looks like complete garbage and smells funny. A van in the same condition would be much harder to move.

Personally, if you HAVE to make a switch I'd sell the van and get a better one or a small SUV.

I was thinking I could get $2k for the van ($1800, maybe.) Throw that in with my $2k cash, I could swing an older pickup. And yes, I have been looking at some 2005-2007 smaller SUVs (Hyundai Sante Fe, etc) with <50k miles for about what I think I could get for my 3.

 

[Chunkee]

i am in same boat kind of...we have two minivans and now only really need one... both are 2006 kia sedona ex. I would like a used car and truck. there are some great deals on trucks around here..esp in Nashville area. The bigger dealers still amaze me what they are asking for their cars...fooey...and thats why theystill have them 5 months later. Good luck in your search. I would try and find an s-10 or sonoma with the 4.3 v6...lasts forever and are great trucks. i am looking at a f-150 4x4 lariat /extended cab fully loaded with 94xxx for 7000.

JC

 

[cKGunslinger]

Originally posted by: Chunkee
i am in same boat kind of...we have two minivans and now only really need one... both are 2006 kia sedona ex. I would like a used car and truck. there are some great deals on trucks around here..esp in Nashville area. The bigger dealers still amaze me what they are asking for their cars...fooey...and thats why theystill have them 5 months later. Good luck in your search. I would try and find an s-10 or sonoma with the 4.3 v6...lasts forever and are great trucks. i am looking at a f-150 4x4 lariat /extended cab fully loaded with 94xxx for 7000.

JC

Yeah, the interesting thing is that I see many F-150s, C-1500, and other full-size trucks for the same or less than a smaller one. I guess the reduced gas mileage may be a factor.

 

[thedarkwolf]

The van isn't worth shit. Fix the air compressor for a couple hundred and take the seats out when you need a truck. Thats what I have my caravan for.

 

[StageLeft]

Doesn't sound like a 3->5 will really get you much. I have a mazda MPV, but they are not sold anymore. I got it hella, crazy cheap, though. I bought it in '05 and it was an 04 with 15k miles and I paid $15,300 for it. Also it came with 100k powertrain factory warranty.

A minivan won't hold what a pickup can, but it is otherwise superior from a function standpoint and my MPV only just (but it does) takes 8X4' sheets of plywood. A 5 won't do that and it will take most of what you need. You could also buy a collapsable trailer for $350 and prop it up in your garage when not using it.

It sounds like mainly you need air conditioning.

I firmly, firmly believe that getting rid of your 3 right now is a big mistake. You'll take a huge bath on it since it's just now endured a year of life and thus its greatest decrease in value, but then really I think buying new vehicles is an economically poor choice in almost all circumstances anyway, but you don't want to replace a one year old to buy another new one.

Keep the 3. The question is whether to fix the van or replace it with something else, but keep the 3.

 

[cKGunslinger]

Originally posted by: Skoorb
Doesn't sound like a 3->5 will really get you much. I have a mazda MPV, but they are not sold anymore. I got it hella, crazy cheap, though. I bought it in '05 and it was an 04 with 15k miles and I paid $15,300 for it. Also it came with 100k powertrain factory warranty.

A minivan won't hold what a pickup can, but it is otherwise superior from a function standpoint and my MPV only just (but it does) takes 8X4' sheets of plywood. A 5 won't do that and it will take most of what you need. You could also buy a collapsable trailer for $350 and prop it up in your garage when not using it.

It sounds like mainly you need air conditioning.

I firmly, firmly believe that getting rid of your 3 right now is a big mistake. You'll take a huge bath on it since it's just now endured a year of life and thus its greatest decrease in value, but then really I think buying new vehicles is an economically poor choice in almost all circumstances anyway, but you don't want to replace a one year old to buy another new one.

Keep the 3. The question is whether to fix the van or replace it with something else, but keep the 3.

Yeah, I'm also learning towards keep the 3 (making it my commute vehicle again) and searching long and hard for a used small SUV or minivan for less than $10k to swap with the van. We need some combination of commute vehicle for my wife and family car for trips, etc. That's what the van was originally for, but with the loss of AC and some other mechanical issues that make me wary, we just don't trust it for our family trips of 1000 miles.

But, if I can swing that, that I'll save for that small trailer to throw on the van/suv. I just need something haul away some trash, buy some hardware/lumber, and possibly pull a bike trailer in the near future.