Author Topic: Keep or Sell the car  (Read 2244 times)

tigerty

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Keep or Sell the car
« on: January 26, 2014, 03:33:14 PM »
Hello all,

I am trying to decide if I should keep our second car. We are currently only using one car and the other one is sitting. For at least a few more years we will only need the one car because we are commuting to work together. What do you think? Sell the 2007 Toyota tacoma 13,000 private value and invest the money for when we need another car or keep it for the future? Considering deprecation vs the cost of buying a new car? Thanks for your input!

Exflyboy

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Re: Keep or Sell the car
« Reply #1 on: January 26, 2014, 05:13:04 PM »
Sell it... not sure what the Tacoma is but it doesn't "sound" very fuel efficient, plus insuranc3, tags etc.

Considering we just bout a 2012 Chevvy Cruze for $12k it seems you can buy cars cheaply.. so buy it when you need it would be my recommendation.

Frank

Exflyboy

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Re: Keep or Sell the car
« Reply #2 on: January 26, 2014, 06:04:40 PM »
Oh its a nasty gas guzzling truck/SUV.. definately sell it!.. unless you need to haul a horse then never buy such a stupid vehicle ever again!

IMHO of course..:)

Frank


Emg03063

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Re: Keep or Sell the car
« Reply #3 on: January 26, 2014, 08:52:08 PM »
Sell it.  Look at the cost of buying a used '04 Tacoma now, and figure that's about what you would need to buy a similar '07 in 3 years, if you wanted one.  It looks to me like you save about $1000 in depreciation by not holding it (not to mention insurance and maintenance--vehicles don't really like to sit idle for extended periods), not to mention any earnings you get from the invested cash.  (Unless you think your time is more valuable than that and therefore it's not worth your aggravation).  You can always buy a less expensive vehicle in the future too.

tigerty

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Re: Keep or Sell the car
« Reply #4 on: January 29, 2014, 09:34:20 PM »
Thanks all. I want to sell it but just needed a few more encouraging words.
 Thanks,
Tyler

Kaminoge

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Re: Keep or Sell the car
« Reply #5 on: January 30, 2014, 05:34:37 AM »
Definitely sell. You may never need a second car so get that money working for you.