Hi guys
My toyota camry atara s is coming to the end of the loan term in the beginning of next year. The balloon value payout will be approx $10k. I have the option of returning this to Toyota under the toyota access plan which will payout all remianing debts or I will either payout the car using 10k cash and re-sell for about 15k private. The car has approx 30,000km and given the depreciation and year/make it will be worth around $15k approx if that .Should I keep the car or upgrade? I plan to upgrade possibly to a Hyundai Santa Fe, given I have a family with kids and the extra seats could come in handy but can't justify if its worth the upgrade?
What are your thoughts on this? In relation to returning the car and obtaining finance for another car or selling the car privately and maybe make a marginal gain if any.
Keep it. Sell it when ready to upgrade