Buying a vehicle - which one makes more sense?
We have two paid off vehicles. We do the regular maintenance on them and they haven't had any major problems (knock on wood!).
DH wants a new truck - his reasoning is that we should trade in his current truck while it still has some value (probably around 10K trade in value). His truck does have 120k miles on it, it's 5 years old, and doesn't have any warranty coverage.
I think that we should just keep the current vehicles because they work fine and are paid off.
Financially, which option makes more sense? Trade in the truck now while it still has some value or keep driving it for a few more years (but the trade in value will be less at that time)?