Hello Mustachians,
I need some advice. I have a paid-off 2014 Mazda 3 hatchback with 6-speed manual transmission. I bought it new, along with an extended warranty, after getting fed up with the high repair bills of my older VW TDIs. The Mazda is perfect for our family (my wife, baby, and me), and it gets up to 45mpg on the highway, which is mostly the type of driving we do. It has 30,000 miles on it and has never required any repairs outside of scheduled maintenance.
I have a goal of paying off my mortgage this summer ($19,000 remaining). I've been watching Craigslist, and it looks like I could get about $13,000 for the Mazda. I would love to sell it and just use bikes to get around town and rent cars for road trips. However, my wife isn't down with that idea and wants to have a car.
Should I sell the car and downgrade to something less expensive, like a slightly older Nissan Versa, so I can net $3,000 - $10,000 and pay off my mortgage that much quicker? Or should I just hold the Mazda, which gets great gas mileage, is fun to drive, has a set of snow tires, and suits our needs?
Thanks for any advice!
