Should I buy a new Kia or stick with my SUV?

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SarahJ

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Want a brand new Kia Sodona. Have a 2001 Pathfinder with 126K miles and bought it one year ago. It's a good car and can easily put on 300K miles with some work done to it. It will be paid off in two years. I want a brand new Kia Sodona minivan. It comes with lots of rebates, and I'm just starting a family. If I took out a 4 year loan, my monthly payment would be $25 cheaper than I'm paying now, except my Pathfinder would be paid off in two years (if it lasts that long as it has some rust and needs some work) instead of 4. If I took out a 4.5 year loan, my payment would be $100 less than I am paying now. I would be paying more, obviously, for the Sedona in the long run but I would be in a brand new vehicle which would be reliable, can take family vacations with it and have a much easier time transporting the kids in it as opposed to the SUV. Also, I would be able to save money for the emergency fund. What makes more sense to you/what should I do?
 
You theory seems good about the Kia except for the part where you mention you would have a reliable brand new car. Kia's are the most unreliable cars out there. They are cheap because they are made cheap. I have never seen an older Kia driving around, and everyone I know that has a Kia has had problems within the first year.
You should look into some other minivans instead of the Kia, or if you do end up with the Kia make sure it has at least a 10 year warranty that covers everything because you will need it.
 
Kia is a terrible brand. Just remember this quote "You get what you pay for". If I were you, I'd stick with the pathfinder till you pay it off completely and it craps out. Then use your funds to buy a used fairly recent SUV / minivan with a credit union used car loan - good credit = 4.20% 48 mo term.

Of course, when it all comes down to it, It's your money. If you want the newer vehicle, I advise you to lease the vehicle. Increase your insurance coverage as well... We live in a throw-away society, these newer vehicles just don't last as long as the older vehicles...
 
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