Should I sell my car?

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
Post Reply
Topic Author
Ninavi
Posts: 14
Joined: Wed Aug 05, 2015 10:49 am
Location: North East

Should I sell my car?

Post by Ninavi » Tue Mar 03, 2020 3:52 pm

I think I should not have bought a new car in first place. But, what is done is done. My question is should I sell my car? Does is make financial sense to sell now?
Current situation: Two car household – 2009 SUV and a 2016 Sedan, no liens. DW is stay at home and drives the SUV.
- Why did I buy a brand new sedan in 2016? I assumed we will do plenty of road trips, but after having baby and chronic illness in family, we haven’t really done any road trips.
- And most probably we do not need a car for road trips, in future I think we will mostly fly.
What has changed – we bought a house next to my workplace (around 0.6 miles), we no longer need two cars
I do not want to sell the SUV, since we like it more.

2016 Sedan has around 23,000 miles – I should get around 14500 if I sell it online and may be a more like 16k on Craigslist.
My calculation for the car is as follows:

Code: Select all

Year             	2020	2021		2022		2023	
Selling Price	$14,500.00 	$13,000.00 	$11,500.00 	$10,000.00 	
Expenses/Yr	Car Year 4	Car Year 5	Car Year 6	Car Year 7	
Insurance	$720.00 	$600.00 	$500.00 	$300.00 	
Property Tax	$440.00 	$400.00 	$375.00 	$350.00 	
Maintenance	$200.00 	$700.00 	$700.00 	$400.00 	
Total Expense	$1,360.00 	$1,700.00 	$1,575.00 	$1,050.00 	($5,685.00)
					
Invest Sale Amt	$14,500.00 	$14,935.00 	$15,383.05 	$15,844.54 	$16,319.88 
Returns  on Inv	$435.00 	$448.05 	$461.49 	$475.34 	



Choice is to have $15k in bank or an extra car for future needs!

Why I might want to keep the Car:
1. If in future(after 3 years I guess), if I get a job which has a commute, this car with low miles will be useful.
2. It also has all the latest safety features like Blinds Spot monitoring, Adaptive Cruise Control, Rear traffic monitor, etc.
3. DW is stay at home, but will be gainfully employed in 2 – 3 years. We may need two cars at that time.
4. Also, if we have to become a two car household in future, we will have to again shell up the sales tax(6.35%) on purchase.

Sorry, this is the first time I am taking advice on an online forum! Be kind.

Presintense
Posts: 381
Joined: Thu Nov 06, 2014 1:58 pm
Location: "Somewhere in the middle of America"

Re: Should I sell my car?

Post by Presintense » Tue Mar 03, 2020 4:04 pm

Ninavi wrote:
Tue Mar 03, 2020 3:52 pm
I think I should not have bought a new car in first place. But, what is done is done. My question is should I sell my car? Does is make financial sense to sell now?
Current situation: Two car household – 2009 SUV and a 2016 Sedan, no liens. DW is stay at home and drives the SUV.
- Why did I buy a brand new sedan in 2016? I assumed we will do plenty of road trips, but after having baby and chronic illness in family, we haven’t really done any road trips.
- And most probably we do not need a car for road trips, in future I think we will mostly fly.
What has changed – we bought a house next to my workplace (around 0.6 miles), we no longer need two cars
I do not want to sell the SUV, since we like it more.

2016 Sedan has around 23,000 miles – I should get around 14500 if I sell it online and may be a more like 16k on Craigslist.
My calculation for the car is as follows:

Code: Select all

Year             	2020	2021		2022		2023	
Selling Price	$14,500.00 	$13,000.00 	$11,500.00 	$10,000.00 	
Expenses/Yr	Car Year 4	Car Year 5	Car Year 6	Car Year 7	
Insurance	$720.00 	$600.00 	$500.00 	$300.00 	
Property Tax	$440.00 	$400.00 	$375.00 	$350.00 	
Maintenance	$200.00 	$700.00 	$700.00 	$400.00 	
Total Expense	$1,360.00 	$1,700.00 	$1,575.00 	$1,050.00 	($5,685.00)
					
Invest Sale Amt	$14,500.00 	$14,935.00 	$15,383.05 	$15,844.54 	$16,319.88 
Returns  on Inv	$435.00 	$448.05 	$461.49 	$475.34 	



Choice is to have $15k in bank or an extra car for future needs!

Why I might want to keep the Car:
1. If in future(after 3 years I guess), if I get a job which has a commute, this car with low miles will be useful.
2. It also has all the latest safety features like Blinds Spot monitoring, Adaptive Cruise Control, Rear traffic monitor, etc.
3. DW is stay at home, but will be gainfully employed in 2 – 3 years. We may need two cars at that time.
4. Also, if we have to become a two car household in future, we will have to again shell up the sales tax(6.35%) on purchase.

Sorry, this is the first time I am taking advice on an online forum! Be kind.
I would be likely to keep the car. It doesn’t cost much to do so if you aren’t driving it and you own it outright. I know it depreciates in value, but not to you. Besides, if you live in a high sales tax state like I do the sales tax on your next car purchase would probably offset the savings in the interval.
Performance = Potential - Distraction

bloom2708
Posts: 7879
Joined: Wed Apr 02, 2014 2:08 pm
Location: Fargo, ND

Re: Should I sell my car?

Post by bloom2708 » Tue Mar 03, 2020 4:06 pm

Have you planned out what being a 1 car house would mean?

Do you ever have to be driving distance away at the same time? How about visiting family? If one takes the car, the other is left with no wheels.

I would bike to work and Uber/Lyft for longer trips. You can buy a lot of Uber/Lyft rides for $16k. Rent a car if a scenario comes up where you need another car.

You would pay less in insurance/registration and sitting doesn't do cars much good while the depreciate.

On the other hand, you have a good car you know and it is paid for. You could put $16k into the market and turn it into $8k quickly. :wink:

It is going to come down to what you both want to do. Buying another car in 3 years is easy. They are everywhere.

Can't miss really. Do what you want to do.
"We are here to provoke thoughtfulness, not agree with you." Unknown Boglehead

daheld
Posts: 913
Joined: Wed Sep 13, 2017 8:14 am
Location: Midwest US

Re: Should I sell my car?

Post by daheld » Tue Mar 03, 2020 4:11 pm

Your post does not give any information as to whether you really NEED that $15,000 you'll get from selling the car. If you're maxing out 401ks, Roths, putting some money away, then it probably doesn't really matter.

Agree with post above you should think long and hard about whether you really want to be a one car family.

psteinx
Posts: 3570
Joined: Tue Mar 13, 2007 2:24 pm

Re: Should I sell my car?

Post by psteinx » Tue Mar 03, 2020 4:11 pm

Cars, especially new-ish ones, are expensive. While I didn't dive too deep into your spreadsheet/#s, it seems you capture the main expenses - insurance, taxes, maintenance, and depreciation, as well as opportunity costs (the expected returns you'd get from investing that money instead). Also gas, but presumably the gas you save from getting rid of vehicle 2 would mostly be added back to usage for vehicle 1.

So, if you've got a handle on the true costs, then you mainly need to compare that against how much usage/value you get out of owning this 2nd vehicle. If your wife is not working, and your commute is 0.6 miles (hopefully walkable the vast majority of the year?), and you otherwise don't really need a vehicle for work, then yeah, maybe you could comfortably be a one vehicle household and save the $$$. Yes, things could change in the future, and yes, there are transaction costs to selling then rebuying 2-3 years from now. You'll have to weigh the probabilities in your mind. But you're not crazy to be considering selling a lightly used vehicle that you can, potentially, do without.

User avatar
Watty
Posts: 19739
Joined: Wed Oct 10, 2007 3:55 pm

Re: Should I sell my car?

Post by Watty » Tue Mar 03, 2020 4:18 pm

Ninavi wrote:
Tue Mar 03, 2020 3:52 pm
2009 SUV
How many miles does the SUV have on it and what type is it? What could you sell it for?

I know that some people keep cars for 20+ years but it is 11 years old now and it may be due to be replaced in the not too distant future especially if you don't do a lot of car repairs yourself.

A 2009 may not even have ESC much less the other advanced safety features that your sedan has. ESC is a very good safety feature to have so I would check on that. If your sedan is a lot safer car than the SUV then that is another consideration.

Even though you like the SUV more it might make sense to sell it if you decide to go down to one car. When your wife goes back to work you could buy another SUV or minivan.

MarkBarb
Posts: 448
Joined: Mon Aug 03, 2009 11:59 am

Re: Should I sell my car?

Post by MarkBarb » Tue Mar 03, 2020 4:20 pm

If you didn't own the car and had an extra $15,000 sitting in your bank account, would you buy it?

MathWizard
Posts: 4174
Joined: Tue Jul 26, 2011 1:35 pm

Re: Should I sell my car?

Post by MathWizard » Tue Mar 03, 2020 4:23 pm

I would not go down to a 1 car household while married.
Not even after I retire.

I'm buying a second laptop because my wife wants to use the shared one all the time.
(She probably thinks the same about me.)

stoptothink
Posts: 7865
Joined: Fri Dec 31, 2010 9:53 am

Re: Should I sell my car?

Post by stoptothink » Tue Mar 03, 2020 4:26 pm

MathWizard wrote:
Tue Mar 03, 2020 4:23 pm
I would not go down to a 1 car household while married.
Not even after I retire.

I'm buying a second laptop because my wife wants to use the shared one all the time.
(She probably thinks the same about me.)
We have a similar situation - <.5 miles from my office, 2 career household, and 2 active kids - and in 4 years have had all of maybe 3x when having a single car was an inconvenience. It's a lifestyle and it was a lot easier of a transition than we imagined.

inbox788
Posts: 7109
Joined: Thu Mar 15, 2012 5:24 pm

Re: Should I sell my car?

Post by inbox788 » Tue Mar 03, 2020 5:00 pm

I would sell one, but why not sell the SUV? You basically have an extra car that won't be driven much. Aside from costs, you have to consider the maintenance on the extra car, inspection, registration, insurance, etc. Not just the cost, but the hassle of having to do the tasks. Not having to wash the extra car is added time savings. I considered keeping an extra mini van, but in more than 3 years time, I can only think of 2 occasions where I needed it absolutely and had to scramble for an alternative solution. On about a half a dozen other occasions, we drove an extra car. Given what you've said, either car would be more than adequate. And if you Uber once a month, or even once a week, it won't cost more than the car. Plus in some situations, Uber is more convenient, like when you don't have to find parking in a congested area.

https://www.autotrader.com/car-shopping ... 4979863888

Topic Author
Ninavi
Posts: 14
Joined: Wed Aug 05, 2015 10:49 am
Location: North East

Re: Should I sell my car?

Post by Ninavi » Tue Mar 03, 2020 5:16 pm

Wow! Thanks for so many thoughtful replies.
daheld wrote:
Tue Mar 03, 2020 4:11 pm
Your post does not give any information as to whether you really NEED that $15,000 you'll get from selling the car. If you're maxing out 401ks, Roths, putting some money away, then it probably doesn't really matter.

Agree with post above you should think long and hard about whether you really want to be a one car family.
Yes Maxing my 403b account, do not max Roth, have a separate Emergency account.
This $15,000 will sit in bank mostly high yield savings account.

I can walk to work, we have excellent walking path, and in Winters I think I can manage considering the mild Winters we have had in recent past.

Do not want to sell SUV, since it is more spacious and DW prefers it over the sedan.
If you didn't own the car and had an extra $15,000 sitting in your bank account, would you buy it?
No I will not, my priorities have changed. I do not see myself buying a car for more than $10,000 anytime in near future.
Can't miss really. Do what you want to do.
Thank you, I was contemplating if there is any advantage of one over the other. Looks like it's a wash or a personal choice.

A 2009 may not even have ESC much less the other advanced safety features that your sedan has.
It has ESC and it is AWD. At present we drive less than 7,500 miles total.

dknightd
Posts: 2164
Joined: Wed Mar 07, 2018 11:57 am

Re: Should I sell my car?

Post by dknightd » Tue Mar 03, 2020 5:47 pm

Ninavi wrote:
Tue Mar 03, 2020 5:16 pm
I do not see myself buying a car for more than $10,000 anytime in near future.
But if you do decide to buy one in 3 years you will already own a nice well maintained one. So you won't have to buy it.

Before I bought my last car I did a careful financial analysis. I decided it would be better financially to not buy a car. But I bought one anyway. To me there is an intangible value to having a car sitting in the driveway that I could use at any time.

You have already gone through the high depreciation years. It will not cost you much just to keep it in case your situation changes.

If you decide to sell it, you have to go through that hassle. Then later if you decide you want to have a second car, you have to go buy one.

I vote for keeping it. But it is your car, so do as you wish :)

I guess one option would be to let it sit there for a month or two, or more. If it just sits and never gets used that might point towards selling it.
If you value a bird in the hand, pay off the loan. If you are willing to risk getting two birds (or none) from the market, invest the funds.

surfstar
Posts: 2131
Joined: Fri Sep 13, 2013 12:17 pm
Location: Santa Barbara, CA

Re: Should I sell my car?

Post by surfstar » Tue Mar 03, 2020 5:57 pm

Roth space is very valuable.
Max your 2019 Roths, for both of you, prior to 4/15/2020. In a true emergency, you can withdraw Roth contributions, penalty/tax free. If it will be part of your EF, invest it accordingly.

Sell the car, max 2020 Roths, also.

If you can get by reasonably without a 2nd vehicle, I say do it!

Topic Author
Ninavi
Posts: 14
Joined: Wed Aug 05, 2015 10:49 am
Location: North East

Re: Should I sell my car?

Post by Ninavi » Tue Mar 03, 2020 6:32 pm

dknightd wrote:
Tue Mar 03, 2020 5:47 pm
Ninavi wrote:
Tue Mar 03, 2020 5:16 pm
I do not see myself buying a car for more than $10,000 anytime in near future.
I guess one option would be to let it sit there for a month or two, or more. If it just sits and never gets used that might point towards selling it.
Excellent suggestion! I had the same thought, we haven't moved to this new house yet. After we move, i will see how it pans out!
Max your 2019 Roths, for both of you, prior to 4/15/2020.
This is a good suggestion, I did not think about it in past due to other obligations. Now that we have our first house, i am not putting away any money for down payment. I can start thinking of maximizing this space.

User avatar
JoeRetire
Posts: 5275
Joined: Tue Jan 16, 2018 2:44 pm

Re: Should I sell my car?

Post by JoeRetire » Tue Mar 03, 2020 6:50 pm

Ninavi wrote:
Tue Mar 03, 2020 3:52 pm
And most probably we do not need a car for road trips, in future I think we will mostly fly.
And if you find that you do need a car, you can rent one.
Choice is to have $15k in bank or an extra car for future needs!
Never keep or purchase a car based on potential future needs.

Sell it. Buy a car when you actually need one.
It's the end of the world as we know it. | It's the end of the world as we know it. | It's the end of the world as we know it. | And I feel fine.

User avatar
beyou
Posts: 3083
Joined: Sat Feb 27, 2010 3:57 pm
Location: Northeastern US

Re: Should I sell my car?

Post by beyou » Tue Mar 03, 2020 7:10 pm

Do a trial run, garage the car for 3-4 weeks or so and live without it. If you need the 2nd car, use Uber or public transportation, pretend it’s not there. Have a plan before you start the trial.

If this is problematic, keep it, else sell it.

atikovi
Posts: 501
Joined: Tue Sep 10, 2019 7:20 pm
Location: Suburban Washington DC

Re: Should I sell my car?

Post by atikovi » Tue Mar 03, 2020 7:14 pm

What happens when you want to go golfing and the wife want to meet up with a girlfriend at the same time? Or one car is in the shop for repairs for 3 or 4 days? I wouldn't want to be a single person with less than 2 cars, let alone a couple.

stoptothink
Posts: 7865
Joined: Fri Dec 31, 2010 9:53 am

Re: Should I sell my car?

Post by stoptothink » Tue Mar 03, 2020 7:40 pm

atikovi wrote:
Tue Mar 03, 2020 7:14 pm
What happens when you want to go golfing and the wife want to meet up with a girlfriend at the same time? Or one car is in the shop for repairs for 3 or 4 days? I wouldn't want to be a single person with less than 2 cars, let alone a couple.
We both travel for work quite a bit, are extremely physically active, my wife is also a full-time college student, and we have 2 kids that both play sports. You think this will happen, and my wife was terrified, but these situations have occurred less than a handful of times since we went down to a single car...over 4 years ago. Everybody has a car, when I meet up with my friends to go snowshoeing or climbing or whatever, they know and we figure it out (usually someone picks me up).

dknightd
Posts: 2164
Joined: Wed Mar 07, 2018 11:57 am

Re: Should I sell my car?

Post by dknightd » Tue Mar 03, 2020 7:45 pm

stoptothink wrote:
Tue Mar 03, 2020 7:40 pm

We both travel for work quite a bit, are extremely physically active, my wife is also a full-time college student, and we have 2 kids that both play sports. You think this will happen, and my wife was terrified, but these situations have occurred less than a handful of times since we went down to a single car...over 4 years ago. Everybody has a car, when I meet up with my friends to go snowshoeing or climbing or whatever, they know and we figure it out (usually someone picks me up).
I hope you at least offer to pay for gas.
If you value a bird in the hand, pay off the loan. If you are willing to risk getting two birds (or none) from the market, invest the funds.

atikovi
Posts: 501
Joined: Tue Sep 10, 2019 7:20 pm
Location: Suburban Washington DC

Re: Should I sell my car?

Post by atikovi » Tue Mar 03, 2020 7:53 pm

stoptothink wrote:
Tue Mar 03, 2020 7:40 pm
atikovi wrote:
Tue Mar 03, 2020 7:14 pm
What happens when you want to go golfing and the wife want to meet up with a girlfriend at the same time? Or one car is in the shop for repairs for 3 or 4 days? I wouldn't want to be a single person with less than 2 cars, let alone a couple.
We both travel for work quite a bit, are extremely physically active, my wife is also a full-time college student, and we have 2 kids that both play sports. You think this will happen, and my wife was terrified, but these situations have occurred less than a handful of times since we went down to a single car...over 4 years ago. Everybody has a car, when I meet up with my friends to go snowshoeing or climbing or whatever, they know and we figure it out (usually someone picks me up).
I don't want to depend on other people for rides, even for a handful of times over 4 years. To go somewhere, or to come back, either feeling pressured to leave at a certain time or thinking they wanted to stay longer but drove my home anyway. That may work in your 20's but I'd think those over 30 make enough to afford 2 cars for 2 people. Maybe give up the daily Starbucks habit if you don't.

stoptothink
Posts: 7865
Joined: Fri Dec 31, 2010 9:53 am

Re: Should I sell my car?

Post by stoptothink » Wed Mar 04, 2020 10:31 am

atikovi wrote:
Tue Mar 03, 2020 7:53 pm
stoptothink wrote:
Tue Mar 03, 2020 7:40 pm
atikovi wrote:
Tue Mar 03, 2020 7:14 pm
What happens when you want to go golfing and the wife want to meet up with a girlfriend at the same time? Or one car is in the shop for repairs for 3 or 4 days? I wouldn't want to be a single person with less than 2 cars, let alone a couple.
We both travel for work quite a bit, are extremely physically active, my wife is also a full-time college student, and we have 2 kids that both play sports. You think this will happen, and my wife was terrified, but these situations have occurred less than a handful of times since we went down to a single car...over 4 years ago. Everybody has a car, when I meet up with my friends to go snowshoeing or climbing or whatever, they know and we figure it out (usually someone picks me up).
I don't want to depend on other people for rides, even for a handful of times over 4 years. To go somewhere, or to come back, either feeling pressured to leave at a certain time or thinking they wanted to stay longer but drove my home anyway. That may work in your 20's but I'd think those over 30 make enough to afford 2 cars for 2 people. Maybe give up the daily Starbucks habit if you don't.
FWIW, I'm 38. Maybe it doesn't fit your lifestyle, but it has been a breeze for mine. Like others have suggested, we actually tested it first (parked our other car in the garage for 2 months) and it wasn't used once so we gave it to my FIL. Hard to justify cost of insurance, registration, maintenance, the space in my garage, etc. when I could catch an Uber the very few times I need (long distance) transportation and don't have access to a car. The huge majority of places I need to regularly visit (office, grocery store, parks, library, kids sports practices) are within 3 miles of my house - we put a lot of miles on our bikes.

User avatar
Watty
Posts: 19739
Joined: Wed Oct 10, 2007 3:55 pm

Re: Should I sell my car?

Post by Watty » Wed Mar 04, 2020 10:44 am

Ninavi wrote:
Tue Mar 03, 2020 6:32 pm
Excellent suggestion! I had the same thought, we haven't moved to this new house yet. After we move, i will see how it pans out!
:oops:

It was not clear that you have not been living in the house for a significant time yet.

I would wait until you have lived there around six months to decide.

quantAndHold
Posts: 4699
Joined: Thu Sep 17, 2015 10:39 pm

Re: Should I sell my car?

Post by quantAndHold » Wed Mar 04, 2020 11:03 am

I was in the same situation. 2 car family, changed jobs and moved, and didn’t need the car for work anymore. We kept it, because it was already 10 years old and mostly depreciated, and weren’t sure if we would need it. We made a point of driving it at least once a week (wife would leave her car at home), but during that time it only got driven 2-3k miles per year.

Honestly, if I were doing it again, I would just sell it. It would have been one less thing to insure and maintain, and the times when we were both driving different places, it would have been easy enough for one of us to Uber.
Yes, I’m really that pedantic.

Tribonian
Posts: 150
Joined: Thu Dec 21, 2017 7:33 am

Re: Should I sell my car?

Post by Tribonian » Wed Mar 04, 2020 1:22 pm

In addition to moving closer to work, will the new home be walking distance to groceries, your child’s school and other frequent destinations?

My car got totaled in November and it has been a liberation. (We are walking distance to work, 2 grocery stores, hospital and parks). We were car free at marriage, topped out at 3 and hope to get down to 1 at retirement.

atikovi
Posts: 501
Joined: Tue Sep 10, 2019 7:20 pm
Location: Suburban Washington DC

Re: Should I sell my car?

Post by atikovi » Wed Mar 04, 2020 1:46 pm

I take it then that most people here view cars as an appliance, like a refrigerator or washer, not something to own for it's enjoyment value like a TV or computer? Do you also have just one TV or one computer like people have just one refrigerator or washer?

quantAndHold
Posts: 4699
Joined: Thu Sep 17, 2015 10:39 pm

Re: Should I sell my car?

Post by quantAndHold » Wed Mar 04, 2020 2:00 pm

atikovi wrote:
Wed Mar 04, 2020 1:46 pm
I take it then that most people here view cars as an appliance, like a refrigerator or washer, not something to own for it's enjoyment value like a TV or computer? Do you also have just one TV or one computer like people have just one refrigerator or washer?
Ummm....yes. We have one TV and one computer. No need for more. We can share.

Given that the car in question is a sedan that they don’t like as well as the 11 year old car that they have, I’m thinking that OP views cars as appliances too.
Yes, I’m really that pedantic.

atikovi
Posts: 501
Joined: Tue Sep 10, 2019 7:20 pm
Location: Suburban Washington DC

Re: Should I sell my car?

Post by atikovi » Wed Mar 04, 2020 2:19 pm

quantAndHold wrote:
Wed Mar 04, 2020 2:00 pm
atikovi wrote:
Wed Mar 04, 2020 1:46 pm
I take it then that most people here view cars as an appliance, like a refrigerator or washer, not something to own for it's enjoyment value like a TV or computer? Do you also have just one TV or one computer like people have just one refrigerator or washer?
Ummm....yes. We have one TV and one computer. No need for more. We can share.

Given that the car in question is a sedan that they don’t like as well as the 11 year old car that they have, I’m thinking that OP views cars as appliances too.
Then you are in the minority. What do you do if your computer is acting up and won't connect to the internet and you have to do something online? Or if you want to watch something on TV but you're wife wants to see something else that is on at the same time? I can understand not being able to afford a second car, but a computer or TV?

surfstar
Posts: 2131
Joined: Fri Sep 13, 2013 12:17 pm
Location: Santa Barbara, CA

Re: Should I sell my car?

Post by surfstar » Wed Mar 04, 2020 2:26 pm

atikovi wrote:
Wed Mar 04, 2020 2:19 pm
quantAndHold wrote:
Wed Mar 04, 2020 2:00 pm
atikovi wrote:
Wed Mar 04, 2020 1:46 pm
I take it then that most people here view cars as an appliance, like a refrigerator or washer, not something to own for it's enjoyment value like a TV or computer? Do you also have just one TV or one computer like people have just one refrigerator or washer?
Ummm....yes. We have one TV and one computer. No need for more. We can share.

Given that the car in question is a sedan that they don’t like as well as the 11 year old car that they have, I’m thinking that OP views cars as appliances too.
Then you are in the minority. What do you do if your computer is acting up and won't connect to the internet and you have to do something online? Or if you want to watch something on TV but you're wife wants to see something else that is on at the same time? I can understand not being able to afford a second car, but a computer or TV?
Desktop vs Chromebook/laptop possibly? We have one desktop, rarely used. Each have our own Chromebooks. One Fire tablet. Plus phones. No need for more 'computers', that's for sure. Maybe quantAndHold does share just one device - that's great!

One TV is plenty, though. We've only had ours for about a year. This is the new normal, despite TVs cheaper than ever - Why buy stuff you don't actually need? its not like multiple TVs are actually going to add to your overall happiness too. Despite more content than ever, it seems as there is still not much worth watching.

sailaway
Posts: 1662
Joined: Fri May 12, 2017 1:11 pm

Re: Should I sell my car?

Post by sailaway » Wed Mar 04, 2020 2:40 pm

We have one TV and one laptop, although DH does bring his work laptop home if he expects to work. Not sure he would if it weren't for the security settings, though.

We also have one car.

Both situations require communication. We only watch streaming services, so we just let each other know our preferences and if we can't agree on what to watch, we agree on who goes to another room.

The first month that we went down to one car, DH created a handful of scheduling conflicts because he forgot that he couldn't just take the other car. He literally called to make an appointment the day he sold his car and didn't tell me until the morning of. In two years, there have been a handful of frustrations, but it never even came down to using Uber, we always worked it out.

atikovi
Posts: 501
Joined: Tue Sep 10, 2019 7:20 pm
Location: Suburban Washington DC

Re: Should I sell my car?

Post by atikovi » Wed Mar 04, 2020 2:41 pm

surfstar wrote:
Wed Mar 04, 2020 2:26 pm
atikovi wrote:
Wed Mar 04, 2020 2:19 pm
quantAndHold wrote:
Wed Mar 04, 2020 2:00 pm
atikovi wrote:
Wed Mar 04, 2020 1:46 pm
I take it then that most people here view cars as an appliance, like a refrigerator or washer, not something to own for it's enjoyment value like a TV or computer? Do you also have just one TV or one computer like people have just one refrigerator or washer?
Ummm....yes. We have one TV and one computer. No need for more. We can share.

Given that the car in question is a sedan that they don’t like as well as the 11 year old car that they have, I’m thinking that OP views cars as appliances too.
Then you are in the minority. What do you do if your computer is acting up and won't connect to the internet and you have to do something online? Or if you want to watch something on TV but you're wife wants to see something else that is on at the same time? I can understand not being able to afford a second car, but a computer or TV?
Desktop vs Chromebook/laptop possibly? We have one desktop, rarely used. Each have our own Chromebooks. One Fire tablet. Plus phones. No need for more 'computers', that's for sure. Maybe quantAndHold does share just one device - that's great!

One TV is plenty, though. We've only had ours for about a year. This is the new normal, despite TVs cheaper than ever - Why buy stuff you don't actually need? its not like multiple TVs are actually going to add to your overall happiness too. Despite more content than ever, it seems as there is still not much worth watching.
AHAY! That's not ONE computer at all, you have at least three, and I assume you use the phones to go online, so more like five internetting devices. No different than most people at all. Try to actually live with just one for a month while using the phone only for calls.

As for TV's, I have one in the kitchen and one in the rec room while most families also have one in the living room and some bedrooms. It's not about happiness but comfort. I wouldn't want to be watching the kitchen TV at 9pm when I could be watching it lying on a couch or in bed. And it's not like there is nothing still worth watching as much as the commercials are taking up so much more of a program than just a few years ago.

MarkBarb
Posts: 448
Joined: Mon Aug 03, 2009 11:59 am

Re: Should I sell my car?

Post by MarkBarb » Wed Mar 04, 2020 2:44 pm

If you didn't own the car and had an extra $15,000 sitting in your bank account, would you buy it?
No I will not, my priorities have changed. I do not see myself buying a car for more than $10,000 anytime in near future.
Doesn't that tell you what you need to know? I suppose you still have to contend with the transaction costs (the time and costs associated with selling it).

psteinx
Posts: 3570
Joined: Tue Mar 13, 2007 2:24 pm

Re: Should I sell my car?

Post by psteinx » Wed Mar 04, 2020 2:51 pm

MarkBarb wrote:
Wed Mar 04, 2020 2:44 pm
If you didn't own the car and had an extra $15,000 sitting in your bank account, would you buy it?
No I will not, my priorities have changed. I do not see myself buying a car for more than $10,000 anytime in near future.
Doesn't that tell you what you need to know? I suppose you still have to contend with the transaction costs (the time and costs associated with selling it).
The, "if you didn't already have it, would you buy it?" argument, used for a lot of stuff (not just in this thread), is pretty weak, IMO, BECAUSE it ignores transactions costs, and depending on how you look at it, depreciation.

I could walk through my house and identify a variety of items that I would not buy now, if I had to pay the original price, or even if I had to buy used in some thrift shop (or at a used car lot, fwiw). But the total cost (time and discount vs. retail price) involved in selling used stuff is substantial, which makes the "if you didn't already have it" line pretty weak. The same thing can apply to financial assets with low bid/ask spreads, but high tax costs or other costs in selling...

MarkBarb
Posts: 448
Joined: Mon Aug 03, 2009 11:59 am

Re: Should I sell my car?

Post by MarkBarb » Wed Mar 04, 2020 3:02 pm

psteinx wrote:
Wed Mar 04, 2020 2:51 pm
MarkBarb wrote:
Wed Mar 04, 2020 2:44 pm
If you didn't own the car and had an extra $15,000 sitting in your bank account, would you buy it?
No I will not, my priorities have changed. I do not see myself buying a car for more than $10,000 anytime in near future.
Doesn't that tell you what you need to know? I suppose you still have to contend with the transaction costs (the time and costs associated with selling it).
The, "if you didn't already have it, would you buy it?" argument, used for a lot of stuff (not just in this thread), is pretty weak, IMO, BECAUSE it ignores transactions costs, and depending on how you look at it, depreciation.

I could walk through my house and identify a variety of items that I would not buy now, if I had to pay the original price, or even if I had to buy used in some thrift shop (or at a used car lot, fwiw). But the total cost (time and discount vs. retail price) involved in selling used stuff is substantial, which makes the "if you didn't already have it" line pretty weak. The same thing can apply to financial assets with low bid/ask spreads, but high tax costs or other costs in selling...
I don't disagree, which is why I included the statement "I suppose you still have to contend with the transaction costs".

Once transaction costs are factored in, I think "if I didn't already have this..." is an excellent way to assess whether you should keep something. It helps people avoid the "endowment effect".

The fact that the OP would not buy the car at that price today is a very good indicator that he should sell it, again assuming that the transaction costs are low enough. It could be as simple as driving to a nearby CarMax and getting a bid from them. If he'd rather have that much in cash than the car, why wouldn't he sell it? That logic would apply whether he wants to be a 1 car family (easier now that we are in the age of Uber/Lyft) or whether he wants to trade it to them for $10,000 and then buy a $2,500 car for occasional use.

stoptothink
Posts: 7865
Joined: Fri Dec 31, 2010 9:53 am

Re: Should I sell my car?

Post by stoptothink » Wed Mar 04, 2020 3:52 pm

atikovi wrote:
Wed Mar 04, 2020 1:46 pm
I take it then that most people here view cars as an appliance, like a refrigerator or washer, not something to own for it's enjoyment value like a TV or computer? Do you also have just one TV or one computer like people have just one refrigerator or washer?
We have 2 laptops because each of our employers provides one, but TVs; yes, one. Besides, last time I checked, I didn't have to register or insure or change the oil/tires on my TV, and it would take up a lot less space in my garage.

Post Reply