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
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.