So we've been looking at trading in our current cars and upgrading. We've currently got a 2005 Mazda 3 hatch and a 2007 Lancer VRX sedan that we own outright (no loans). Both really good cars, the Lancer chews a bit on fuel but other than that can't fault them for our current circumstances.
We currently have a 9 year old DD and a bub on the way, due in November. Both will fit comfortably in our current cars, however we are planning another addition in the next 2-3 years which will see our family outgrow our cars.
The plan is to trade in both cars, and look at something like a Mitsubishi Outlander or Nissan X-trail as the "family car" which will be primarily mine, and a small car such as a Colt as DH's runabout for work etc. Looking primarily at either ex-demo models or used but relatively new if that makes sense.
What we're not sure of is whether it's better to do this now (or soon) to get a higher trade in value on them, or wait until we actually need to do it and save the money we'd be paying in loan repayments into a savings account to put towards the new cars?