I think I know what I'm going to do but I could use a final push. For starters, don't need anybody to point out the stupidity that got me here... I KNOW! :)
Have a 2012 SUV that I've "owned" for almost 2 years and so far have put 12.5k miles on it, including 3 1200 mile trips. Don't drive much because I telecommute, mostly walk, bike or use the bus for errands, going out, etc. Owe <$19k, want to ditch it ASAP. We just got car2go and I figure that can fill in emergencies, other random short trips, use basic car rental an average of 1 day a month or half that and I'm looking at getting total car expenses down to $100-150/month (probably much less in warmer months) if I go completely without car.
The downside to going completely carless is that my family lives about 15 miles away and having no car will limit abilities to visit. Plus my parents tend to watch my dog when I travel for work. There are other options for this but they really like the little guy. My car2go usage factors into getting him up there and back.
I've debated waiting till after winter, after the holidays, until I can not only get rid of the car but also get a little beater, but it's been weighing on me and I want to pull the trigger NOW, use the time without a car to sharpen my mustachian skills and then, if a car really is necessary, do proper research and buy something in the $3-5k range with cash. Personally, I think if I can get through the winter without one, I'll never need one.
Anyway, I took it to carmax yesterday and they offered $21k, which is the bottom of the kbb estimate, so not great but not terrible. They did warn me that subsequent appraisals will be lower and lower just because.
In short, if I pull the trigger and get to cancel car insurance, I'm looking at $19k less in debt, ~$2400 in my pocket, no $440 car payment next month, but perhaps a couple hundred that I'll have to spend for car rentals to get through various holidays and other family events in December. After that, I have the winter to hunker down and continue to save.
What do you guys think? Pull the trigger this week?