Hi All:
I'm interested in your opinion on this.
About our vehicles:
MY CAR: 1992 TOYOTA CORROLA (Paid off)
PLUSES: paid off, bought for only $1500, low expenses, very reliable in a pinch for me to get places. 27 mi/gal.
MINUSES: deteriorating from lack of use/upkeep... broken passenger side door, bad windshields; also, sucky sound system (no CD/tape/phone jack and staticky radio). My wife won't drive in it usually because she feels safer in a bigger car after getting in accident a long time ago.
ANNUAL COST: probably under $1000 for gas (maybe 7-8 tanks a year), registration, and low-cost insurance.
MY WIFE'S CAR: 2004 Ford Escort (Paid off)
PLUSES: She loves driving it, If I'm driving with her, we are in this car. It's completely paid off. It's big enough to move my music equipment or her photo equipment. Mostly has worked great, with some occasional servicing.
MINUSES: not fuel efficient... maybe 16 mi/gal. Higher insurance premium, more gas expense.
ANNUAL COST: probably $2000-$2500 for insurance, fill-ups and registration, some maintenance.
BIKES?
I don't currently own one but often walk to get places around town. I am open to getting a bike.
My wife has not seemed open to it... she is not "outdoorsy" nor really all that athletic. So far she has not warmed to this part of the
musichian ideals.
THE QUESTION:
Should I...
... keep my car for the occasional use it brings me, and the added fuel efficiency, and relatively low cost?
.....or should I sell it, use my wife's car as needed and if I absolutely need to get to a gig/rehearsal to I can rent (?) car for an afternoon? I could take my chances and see.
... somehow work on convincing my wife that we should sell our cars, and get a more fuel-efficient car that she still feels safe in, and take my chances that it will be enough for our use?
I should also add that my wife has repeatedly insisted that we both need a car, despite the fact that combined we probably drive fewer than 10K per year and both work from home much of the time. I think she would go ahead with my choice if I sell my car, even if she is reluctant/unsure about it... however, I don't know if she will go ahead with the idea of us selling both our cars, since I have never brought it up.
I am open to doing the best option for me after I think this through, so your Feedback is much appreciated.