Author Topic: Car dilemma...  (Read 3339 times)

FuckRx

  • Pencil Stache
  • ****
  • Posts: 788
Car dilemma...
« on: July 24, 2013, 11:36:14 AM »
i'm leasing a 2013 smartcar, $163/mo, 2 years left....35-40mpg
i have a 1971 ford maverick that i used to race...10-11mpg
i live 7 miles from work, terribly busy streets so i'm scared to bike it but in the process of trying it one of these days...

the maverick i can sell for 10-15k...
or i can sell the engine and swap it for a more fuel efficient engine...maybe get 20-25mph...
then i can get rid of the smart....ending the lease won't cost me much because the car has a lot of value still...

or sell the maverick (sad face) and then pay off the smart....

or trade the maverick with someone else that has a 1971 maverick, 6 cylinder

Tony_SS

  • 5 O'Clock Shadow
  • *
  • Posts: 59
  • Location: MO
Re: Car dilemma...
« Reply #1 on: July 24, 2013, 12:57:38 PM »
I just sold my 79 Monte Carlo that I built up over 10yrs for over 16k. I'm glad I did.... less = more.

Cars are a tricky thing based on what you need them for. The Maverick is not a need for you, just keep that in mind.

FuckRx

  • Pencil Stache
  • ****
  • Posts: 788
Re: Car dilemma...
« Reply #2 on: July 24, 2013, 01:58:48 PM »
agree....the maverick can go, the cash would help...
but i would stuck with the smartcar still....
if i could keep the maverick that would be an easy cheap car to fix if any problems arise...

Rebecca Stapler

  • Pencil Stache
  • ****
  • Posts: 907
    • Stapler Confessions
Re: Car dilemma...
« Reply #3 on: July 24, 2013, 02:04:33 PM »
Leasing is just about never a good idea, so I say get rid of the lease and the maverick and buy a car with the proceeds.

Tony_SS

  • 5 O'Clock Shadow
  • *
  • Posts: 59
  • Location: MO
Re: Car dilemma...
« Reply #4 on: July 24, 2013, 02:12:41 PM »
Yep leasing is like renting... never really a good thing.

Get out of that lease, sell the Maverick and buy a good used car with cash. Look at all the money you'll gain and save down the road.

Sounds like you want to keep the hot rod though!

FuckRx

  • Pencil Stache
  • ****
  • Posts: 788
Re: Car dilemma...
« Reply #5 on: July 27, 2013, 01:26:56 PM »

i know it sounds like i really wanna hang on to the maverick...
but really i just wanna drive it if i can contribute to one less car purchase...
i already think in this nation we rely too much on cars and we sell/buy way too many used cars...

while we at it, any suggestions on used cars to buy?

Rebecca Stapler

  • Pencil Stache
  • ****
  • Posts: 907
    • Stapler Confessions
Re: Car dilemma...
« Reply #6 on: July 29, 2013, 08:38:10 AM »

while we at it, any suggestions on used cars to buy?

Here is MMM's list, which I generally agree with: http://www.mrmoneymustache.com/2012/03/19/top-10-cars-for-smart-people/. I love our 2006 Prius (we hit 100k miles on it this year!) and our 1999 Corolla is still going strong with 150k miles on her -- although, the ride is a little bumpy and close to the ground compared to the Prius.

Forcus

  • Pencil Stache
  • ****
  • Posts: 714
  • Location: Central Illinois
Re: Car dilemma...
« Reply #7 on: July 29, 2013, 09:52:16 AM »
Well I'm being contrary here but I would sell the Maverick (if you could truly get that much out of it... selling modified older cars is tricky) and keep leasing the Smart car (though I have no love for the Smart car itself). Yes you are "renting" the Smart car at $163/mo but you also have zero maintenance costs, and no depreciation to worry about, and no cost for turning the car back in early (which you'd have to count as a cost towards a different car). I'd keep the Smart car, put some money in a car "replacement" fund for 2 years, and then look at your options at the end.

As an aside, I love car stuff, engine swapping, etc., but it is generally not ever going to make sense cost wise. Every swap I've done has taken much more time and money than anticipated and the benefits generally less than planned. I'm planning an NV4500 (transmission) swap in my 1974 International right now, to get away from a "trucky" shifting transmission, and to get an overdrive gear. It will probably be around $3k when all is said and done and at that price it would probably take a hundred years to get that cost back!