Hello everyone. I've owned a very non-Mustachian car since graduating from college (Subaru Impreza WRX). I decided to sell the vehicle near the end of last year in order to cut down on unneeded expenses (higher gas, insurance, and repair costs) associated with owning a high-performance vehicle.
I invested some money to get some need repairs done to prep the car for a private party sale. However, just before a very serious potential buyer got a chance to take a look, the clutch imploded, leaving me with a potentially incredibly costly repair.
Now, I've already put a decent amount of cash into this thing to get it into sales shape. If I shell out in more to get it drivable, my "net" from the entire ordeal will be low enough that my plan to buy a used Prius with the proceeds won't work. However, I am guessing the trade-in value as is will be so low that I need to see the repair and private party sale through to the end.
Provided I can do this, I have two options afterwords:
1. Set my sites on a lower cost vehicle. What would folks here recommend looking into for ~$7k?
2. Go one car. My wife's car works fine. I work from home full time. This makes going one car potentially possible. However, I would miss out on one of my great pleasures in life: early morning climbing trips to nearby climbing crags. They are just out of convenient biking range (8-10 miles each way). My wife's job also demands she have reliable transportation, so if her car breaks, I'm not sure how she gets to work those days. Other than these worries, one car seems possible.
So, I guess my actual questions here are: how to "exit" my current vehicle with the most cash intact, and which option to proceed with afterwords. Looking forward to hearing what you think!