So i have a 2001 XJ (Cherokee) with 80,000 miles, 4x4, black, like mint condition. edmunds blue book says i can get 8100 for it. and the price quote i got for a 2007 2-door JK w/ a rear locker, manual, black soft top, was 18,945. so basically id be paying 10 g's in 5 years at 5.5%APR or so. So i was wondering on what you think about this? Does this sound like a good plan? Am i missing something? Keep in mind im 18, and a male with an accident on his record, would insurance cover me? I know i can call and find out but was jw if someone knew. Also i know it doesnt help with trade in but my XJ is heavily modified id say, specs in the signature. thanks for the help, and sorry for the post being ginormous.
If cash is a problem, I'd stick with the XJ if it's already paid off, the JK is a first model year vehicle, we have no idea what kind of issues are going to show up as they start to get some serious miles on them.
Depending on the dealership they more than likely wont give you the bluebook value on the trade in for a modifyed XJ. The dealership that I dealt with certinly didn't so I ended up selling mine independantly. And I would suggest you do the same. Either way I doubt you'll be able to get 8k for the XJ with all the mods on it, but its worth a shot. As for the price that you got quoted for the JK with a rear locker at 18k are you talking about the X model option that has the rear locker at no addtional cost. If so understand that I dont beleve that Jeep is actually offering that, its just a goof up on their website. Also being that your 18...do you have alot of credit? A rate of 5.5% would say that you have a decent credit score. I know that when I was 18 I didnt have any credit at all. Just something to think about.
Were it me, I would drive the current vehicle into the ground before getting a new one - esp. at that age.
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