Selling right now would be a good idea if you're planning to sell it sometime in the next 1-2 years anyway. You're right, gas prices are down, and could well go back to $3+ next summer. With the relatively lower prices now, this is a good time to dump a gashog.
However, if you are thinking about selling it just because you feel like this may be the last good chance to do so, I'd hang on to it. You generally lose or break even with a trade.
You also have to consider the costs of trading the car -- tax, plates, e-check, etc.
Here in Cleveland, for example, sales tax is 7.5%. On a $20,000 car, that's $1500. At today's gas prices, 685 gallons of gas, or enough for 9,590 miles in the LC at a conservative 14 mpg.
Also, LC's have something of a cult following (witness this board), and the residual values to prove it. The $17K (or whatever) you've got in that one right now is better invested than it would be in almost any other kind of car.
And, if you sell it, you can't hang out here with all of us anymore, and we don't want to see you go.
(OK, just kidding about the last part, but I still vote to keep it).
However, if you are thinking about selling it just because you feel like this may be the last good chance to do so, I'd hang on to it. You generally lose or break even with a trade.
You also have to consider the costs of trading the car -- tax, plates, e-check, etc.
Here in Cleveland, for example, sales tax is 7.5%. On a $20,000 car, that's $1500. At today's gas prices, 685 gallons of gas, or enough for 9,590 miles in the LC at a conservative 14 mpg.
Also, LC's have something of a cult following (witness this board), and the residual values to prove it. The $17K (or whatever) you've got in that one right now is better invested than it would be in almost any other kind of car.
And, if you sell it, you can't hang out here with all of us anymore, and we don't want to see you go.
(OK, just kidding about the last part, but I still vote to keep it).
