Which vehicle to sell?

[SBee12]

So I know we need to sell a car.  Honestly,  I think we could manage to sell both as we have a cargo bike,  but my husband is only on board with selling one. 

Q is which to sell-  I think I know,  but emotional attachment is causing issues.

We have a 2012 Mazda5 (mini minivan),  seats 6 and will be paid off in Sept.  It has 150000 km and no warranty but is in excellent shape,  is cheap to insure and is a standard with great gas mileage.

We also have a 2016 F150,  seats 6,  fully paid,  only 20000 mm, warranty but is a gas hog and costs twice what the Mazda does to insure.

In my eyes, the f150 costs way more to operate,  so we should get rid of it.

The emotional issue though is that it was my husband's dad's truck until a couple months ago when his Alzheimer's went crazy fast and he lost his ability to drive.  My inlaws gifted us the basically brand new truck,  because my husband has always wanted one,  but it never made financial sense to buy one.  Plus,  on his dad's better days,  his dad loves going for a ride in the truck. 

So,  do we sell the van,  and make about $6k to put down on the crazy amount of debt we've accumulated with bad decision making,  but maintain the high annual cost of the truck,  or do we sell the truck,  give the money to my inlaws (because it feels wrong to keep it.  They paid cash for that truck 2 years ago and didn't want a dime from us when they gave it to us) but have the much cheaper to operate van.

Honestly,  I think the truck is what we should sell,  but as my husband wants to sell the van,  I'm open to being talked into selling the van if there is a financial case to be made.  If not,  ideas on convincing my husband are helpful too. (I'd sell both but my husband is definitely not there yet) Thanks!

[Zette]

150k vs 20k is a big difference in mileage.  How much would you get for each vehicle, and how long would it be until you have to replace it?  How much is the difference in insurance?  How many km do you drive a year?

If you didn't have a car, and both were offered to you for the same price, which one would you take?

[SBee12]

We would get nothing for the truck as I'd give the money to my inlaws as they gave us the truck a few months ago.  We would get ~6k for the van.

We used to drive a lot.  We moved,  and now neither of us drives to commute anymore,  so the mileage is not a big issue. Total of 7000km a year max.  Every vehicle I've had I've driven to at least 400 000km,  so the van still has lots of life left.  I expect the van will last another 6-8 years,  and the truck 10-12.  We wont replace them when they are done-  we will use active transportation for everything instead.

Insurance is $800/year on the van, $1800/year on the truck.

[Car Jack]

Keep the truck.

Why?

1) Much less mileage on it
2) you say you're mostly biking.  With a gas guzzler, that gives you more incentive to bike.  Infinate mpg vs 30 mpg for the van or 16 for the truck wins for the bike.
3) You make more money selling the van.  Sell the van and keep the money.  Sell the truck, give the money to in laws.  Make nothing and have no truck anymore and can't bring FIL on rides.

After a few years, maybe when FIL is no longer alive, sell the truck and get whatever you want.

[use2betrix]

If you’d be giving the money back to the family for the truck then I’d definitely sell the van, no brainer.

Plus - especially while his dad is still around and enjoying the truck rides, that’s important.

I don’t think you’re entitled to sell the truck and give them the money? It makes no sense unless they want you to sell it for them. If anything, you should probably just return the truck to them if you went that route. Again though, I’d keep the truck and sell the van.

[dignam]

IMO, keep the truck, sell the van.  For reasons listed above.

[The Fake Cheap]

Strictly from a financial standpoint, it's clear the better choice is to sell the truck.

However, given that you drive low KM, and most importantly, the truck represents a bit of familiarity to your FIL, I would saw in this situation, keep the truck.

[soccerluvof4]

Yea i would keep the truck. There is a big difference in mileage and your not putting on that many miles. Perhaps too if you lower your mileage a bit more you can get a discount on your insurance as well. Sell the van.

[Not Sure]

Sell the van and drop the insurance on the truck to something reasonable in light of the fact that it's rarely driven.

[Just Joe]

Sell the van and ride your bike alot. Reduce cost of insurance. If DH is not MMM ready this might be a good time to slowly start the education process. If the bike rides get to be too much, convert your bike to an ebike.

[patrickza]

I'd first offer the truck back to the inlaws saying you really appreciate the gift, but don't need another car and can't afford to run and insure the truck.

They might refuse and say it was a gift, in which case you can sell it and the cash is yours to keep.

[ericrugiero]

Keep the truck.

Why?

1) Much less mileage on it
2) you say you're mostly biking.  With a gas guzzler, that gives you more incentive to bike.  Infinate mpg vs 30 mpg for the van or 16 for the truck wins for the bike.
3) You make more money selling the van.  Sell the van and keep the money.  Sell the truck, give the money to in laws.  Make nothing and have no truck anymore and can't bring FIL on rides.

After a few years, maybe when FIL is no longer alive, sell the truck and get whatever you want.

+1

The Mazda is clearly the more mustachian vehicle.  But, in this case I would keep the truck because it will make your husband happier and not damage the relationship with your inlaws.  Selling the mazda will cover the increased insurance and gas for a few years.  You aren't going to be driving it that much anyway.  In the future, (after the FIL no longer wants rides) the truck can be sold without offending anyone.