Is It Time For a New Car?

So far this summer, we’ve sold a 1984 Cadillac, a 1994 Mercury Sable, and a 1976 Lincoln Continental.

Chevrolet Traverse

Chevrolet Traverse (Photo credit: .imelda)

That’s most of the vehicles we inherited in April.

Now, we’ve got a 2005 Chrysler Pacifica, a 2001 Ford F150, a 2009 Dodge Caliber, and a 1986 Honda Shadow.

According to Kelly Blue Book, the Caliber has a resale value of $10,065 and a trade-in value of $8470.

The F150 is worth $6,418/4,923.

The Pacifica is worth $7,738/$6,093.

The bike is worth about $1,500.

We own all of them, free and clear, right now.

With our current situation, the F150 and the Caliber aren’t working.   We have 3 kids.  The oldest is 12 and pushing 6 feet tall.   He barely fits in the backseat of either and is forced to wedge himself against a car seat if we take either of these vehicles anywhere.  Even the front seats don’t have a lot of leg room, and I’m not exactly short or small.

We are also a popular place to hang out and almost always have an extra kid or two on the weekends.  Right now, that means we take two cars if we have to go somewhere.

On top of that, my girls ride in a saddle club on borrowed horses.   We are planning to buy a horse trailer and (shudder) lease a couple of ponies next summer.

So, our requirements are:

  • Seat 7-8 people
  • Full-sized 3rd row
  • Towing capacity of at least 5000 pounds
  • More than 20mpg highway
  • Comfortable front seat

Based on our initial research, the Chevy Traverse meets our needs.  Depending on the configuration, it seats 7 or 8 people with a full-sized 3rd row, has a 5200 pound towing capacity, and is rated for 24 mpg on the highway.   Locally, there is a 2010 model with 50,000 miles for $19,000, which is dead-on with blue book.  For another $1500, we can make it all wheel drive and 2011, which is below blue book.  Consumer reports rates it pretty high, but Edmunds has some mixed reviews.

We should be able to sell the F150 and the Caliber for $12-13,000.  That only leaves about $6,000 left, which we should have after the remodel on our rental property.    I’m almost positive we’ll pull the trigger on a new car in the next month or two.

What do you think?  Am I missing anything?  Any experience with a Traverse?  Have a better idea for something that meets our needs?  Please leave a comment and help me out.

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  • 4 comments

    Comments

    1. Wow, we could have looked at one of those cars for you. We have a kid that turned 16 last week (but he does have a car now, but not that great of one). We are on the down-sizing part of family size now so we can all fit in our F-150 (full sized second seat). When all the kids were at home, I seriously thought about a “transit sized” bus LOL.

    2. Sounds like a good plan to me. I’ve heard good things about the traverse, but would be curious to see how it does with a horse trailer, a few horses and a full load of people

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