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I have a 2017 JGC SRT with 45,500 miles in excellent condition. I bought it used in late 2019 with 29k miles on it. I work and live in the same city so don't use it to commute, more of a sunday driver or out of towner with the occasional errand being ran.

I love my SRT but the payments are steep ($750 a month). I can swing it but it would be nice to use some of that money for a mortgage payment. I've been looking at trading it in for a 2017 Golf-R with 25K miles on it in good condition with an asking prices of $36K. Currently my average KBB trade in value for the SRT is $47,500 and I still owe $45,000 on it (I refied in the middle of shelter in place).

My concern is if I don't get rid of the SRT soon I won't be able to move it or get much value for it but they do seem to hold their value better than other vehicles (probably way better than VWs), I could probably get my payments down to $550 if I went for the Golf-R which gets way better gas mileage in a time where it doesn't seem like gas will go back down after the recent hike earlier this year and will only get worse in the future.

I also wonder what if I just kept my SRT and continue to invest in it and take really good care of it. I could have it paid off in 4-5 years and maybe have a classic I could still enjoy driving and take a lot of pride in. If I'm still feeling a pinch I could probably sell it for at least $25,000 if I keep the mileage south of 100k. Anyone have advice from holding on to their SRT8s for 10 or more years?

On a side note, while I love the street performance of the SRT I would like a little more off road capability. I know the open dif and suspension severely limits this but I don't want to do anything hardcore. I just want to be able to handle fire roads, snow, eroded mountain roads, shallow sand pits, mud etc,,, when I try to get out of the city (yes, I know the Golf-R would perform much worse in this category). Any recommendations for mods that could help with this without severely altering the street performance and general intention/purpose of the SRT? Slight suspension tweaks, hybrid tires? I'm not going to the track or anything or doing any drag races. I just really like having a high performance vehicle with a broad range of capabilities.

Thanks!
 

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From your description you should get rid of the SRT Jeep and get something more in line with your needs and finances. The JGC SRT is just not an economy or off road vehicle and if you try to make it into one you will ruin the value of it and probably the functionality of it.
 
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Housing should be top priority. Take care of your needs first then go after your wants.


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Cars are depreciating assets, and there is no "investing" in them. We are in a rising interest rate environment and a very bad inflationary cycle. Selling the SRT to move into a slightly cheaper VW is probably not a good idea. Wanting better off-road performance is a distraction from buying a house.
My astute father-in-law told me years ago "Your first loss is your best loss". In this case it would mean selling the SRT at retail rather than trade-in, buying a $5000.00 Honda Accord, and then purchasing a house.
You will be better off focussing on what really matters to you, and then setting a goal for that one objective.
And the big rule in finances is "spend less than you make".
 

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It sounds like you have some competing interests at hand.

First, having almost the full value of the cost in a loan when you're 3 years in, is not a good situation. Hopefully, you were able to use the cash out of the refi to do something significant with it (as in pay off other debt that was higher in interest). But then that really points to the fact that you probably had too much overall debt to begin with. This is not a jab, just stating some facts as I try to understand the situation.

In terms of selling the SRT for $45k and buying a $36k car, does not seem like a good deal (and not for $200 per month). If you want a good deal, you need to look at a small fuel efficient car like a used Honda that you can pickup for $20k, cut your payments to less than half, spend less than half in gas every month, and spend less overall in cheap maintenance for the Honda.

As for the baja truck you're really wanting, you could really go the route of finding a sub-$10k baja style truck or SUV (a fairly old one) and use that as your commuter and toy. But beware that normally comes with higher repair and overall "fun" factor costs, so that could easily be a money pit. Which means this is also competing against your desire to rectify your finances.

In the end -
1) It appears that the SRT cost is not the best for you right now. And that's ok, at least you recognize it, unlike many who just think it's ok and suddenly they're super upside down with no way out without taking a bath and losing even more money.
2) If you do decide to sell and step down to something else, don't go to a $36k car. You need to go to a $20k car.
3) If you want to do "fun stuff", figure out a way to do that where it isn't tied to a car payment. A weekend on a 4 wheeler once a month is much cheaper than a recurring car payment and insurance payment on a baja vehicle that is constantly needing attention.
4) Get yourself financially in order where you feel comfortable, then when you're ready, get yourself the next toy you're ready for. Might be next year, might be 3 years from now. But there's nothing better than the feeling of being able to comfortably afford something and enjoy it, rather than constantly looking at your bills every month and having it constantly on your mind.

Just my 2 cents...
 

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I have a 2017 JGC SRT with 45,500 miles in excellent condition. I bought it used in late 2019 with 29k miles on it. I work and live in the same city so don't use it to commute, more of a sunday driver or out of towner with the occasional errand being ran.

I love my SRT but the payments are steep ($750 a month). I can swing it but it would be nice to use some of that money for a mortgage payment. I've been looking at trading it in for a 2017 Golf-R with 25K miles on it in good condition with an asking prices of $36K. Currently my average KBB trade in value for the SRT is $47,500 and I still owe $45,000 on it (I refied in the middle of shelter in place).

My concern is if I don't get rid of the SRT soon I won't be able to move it or get much value for it but they do seem to hold their value better than other vehicles (probably way better than VWs), I could probably get my payments down to $550 if I went for the Golf-R which gets way better gas mileage in a time where it doesn't seem like gas will go back down after the recent hike earlier this year and will only get worse in the future.

I also wonder what if I just kept my SRT and continue to invest in it and take really good care of it. I could have it paid off in 4-5 years and maybe have a classic I could still enjoy driving and take a lot of pride in. If I'm still feeling a pinch I could probably sell it for at least $25,000 if I keep the mileage south of 100k. Anyone have advice from holding on to their SRT8s for 10 or more years?

On a side note, while I love the street performance of the SRT I would like a little more off road capability. I know the open dif and suspension severely limits this but I don't want to do anything hardcore. I just want to be able to handle fire roads, snow, eroded mountain roads, shallow sand pits, mud etc,,, when I try to get out of the city (yes, I know the Golf-R would perform much worse in this category). Any recommendations for mods that could help with this without severely altering the street performance and general intention/purpose of the SRT? Slight suspension tweaks, hybrid tires? I'm not going to the track or anything or doing any drag races. I just really like having a high performance vehicle with a broad range of capabilities.

Thanks!
Good advice from SRK and viper98912. I’ll say you should really consider what they articulated to you and move forward with your life. The thought of investing money in a depreciating asset doesn’t sound prudent.
 

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I agree with SRK and viper98912 they are steering you in the right direction. I would however avoid any VW they are unreliable and expensive to fix. You will regret ever buying that thing as it will bleed you dry and they have next to no resale value. I have never owned a VW but have had 6 friends that have and none have ever bought another or even expressed interest in it. One of my close friends had a used GTI he loved it for about 8 months however their motors do not hold up especially the turbo models he ended up losing his shirt. Do your research before buying a car a Honda is a great car I have owned 5 accords and have put 200k+ miles on them. My WK1 is my baby though.
 

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I have a 2017 JGC SRT with 45,500 miles in excellent condition. I bought it used in late 2019 with 29k miles on it. I work and live in the same city so don't use it to commute, more of a sunday driver or out of towner with the occasional errand being ran.

I love my SRT but the payments are steep ($750 a month). I can swing it but it would be nice to use some of that money for a mortgage payment. I've been looking at trading it in for a 2017 Golf-R with 25K miles on it in good condition with an asking prices of $36K. Currently my average KBB trade in value for the SRT is $47,500 and I still owe $45,000 on it (I refied in the middle of shelter in place).

My concern is if I don't get rid of the SRT soon I won't be able to move it or get much value for it but they do seem to hold their value better than other vehicles (probably way better than VWs), I could probably get my payments down to $550 if I went for the Golf-R which gets way better gas mileage in a time where it doesn't seem like gas will go back down after the recent hike earlier this year and will only get worse in the future.

I also wonder what if I just kept my SRT and continue to invest in it and take really good care of it. I could have it paid off in 4-5 years and maybe have a classic I could still enjoy driving and take a lot of pride in. If I'm still feeling a pinch I could probably sell it for at least $25,000 if I keep the mileage south of 100k. Anyone have advice from holding on to their SRT8s for 10 or more years?

On a side note, while I love the street performance of the SRT I would like a little more off road capability. I know the open dif and suspension severely limits this but I don't want to do anything hardcore. I just want to be able to handle fire roads, snow, eroded mountain roads, shallow sand pits, mud etc,,, when I try to get out of the city (yes, I know the Golf-R would perform much worse in this category). Any recommendations for mods that could help with this without severely altering the street performance and general intention/purpose of the SRT? Slight suspension tweaks, hybrid tires? I'm not going to the track or anything or doing any drag races. I just really like having a high performance vehicle with a broad range of capabilities.

Thanks!
I have owned SRT’s since 2007. You are NOT going to lose money. I just upgraded vehicle, I went from a 2015 JGC SRT TO A 2019 SRT JGC. I traded in the bone stock 2015 for 43k (i bought it in 2018 for $40k). With all the electric car bullshit, you should be okay. I paid $20k for the 2019 plus the trade in. I have a 2019 with 8k miles. Win win.
 
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