Tips on Buying Cars: New car or keep old one?, mileage vehicle, nissan dealership

Question
Mr. Ford,

I'm the guy who had the misfortune of hitting a deer recently. You were terrific in answering my questions.

I have been talking with a Nissan dealership in the Chicago area who is willing to give me $10,300 for my 2002 Altima 3.5SE with 70,000 miles on it. That's certainly more than anyone else says it's worth, especially in light of the extensive repairs done after the accident.

The deal would get me into a new Altima 2.5S and eliminate my mileage oveage fees. That's the good news.

The bad news is this is not a particularly good time for us financially, and I'm not sure if I'll get financed.

My other option is buying out the lease on my current car, in hopes of keeping the car for another year or so.

What do you suggest? Thanks very much.

Answer
Hi again Mike.  The decision will have to be made by you but I would hate to see you buy out the lease and keep the vehicle for another year or so.  It is still a high mileage vehicle that has been severly damaged.  If at all possible try to not do that.  Best of luck. Bud