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Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: zaratekid86 on February 16, 2016, 05:27:54 PM

Title: keep my car or sell it and get a.....
Post by: zaratekid86 on February 16, 2016, 05:27:54 PM
i have a 2011 ford focus 5 speed mt with 95k on it. i could probably get about 5k if i sell it to a dealership maybe 6k if i sell it privately

if i sold it for 5k i would be upside down and end up paying 2600 to get it off my hands... should I just keep it or lose the $2600 and get a $1500  car

i think if i sell it i would save about $2000 but take the chance of getting a lemon that needs repairs.

thanks in advance
Title: Re: keep my car or sell it and get a.....
Post by: JLee on February 16, 2016, 05:34:35 PM
Assuming you know the history of this car and it has no catastrophic problems, keep it.
Title: Re: keep my car or sell it and get a.....
Post by: Reynolds531 on February 16, 2016, 06:01:10 PM
Agree if you know the car keep it. Rolling the dice on at least one older car for the time the focus will be serviceable is a risky prospect.

Take care of the focus, use sparingly, pay it off asap.
Title: Re: keep my car or sell it and get a.....
Post by: aFrugalFather on February 16, 2016, 06:02:50 PM
Better the car you know than one you don't is what I think... 
Title: Re: keep my car or sell it and get a.....
Post by: Jeremy E. on February 16, 2016, 06:16:00 PM
I feel like a 2011 ford focus mt with 95k on it should be worth more than 5-6k, however I could be wrong. When I was thinking about getting a new car, I was looking at 2012 mazda 3 hatchbacks and they were going for about 12k. For $1,500 you would probably get a car with 160,000+ miles that could have the tranny or engine go bad at any minute, which could cost more to fix than it's worth. Lastly never sell cars to a dealership, craigslist sucks but $1,000+ for dealing with some idiots is almost always worth it in my opinion
Title: Re: keep my car or sell it and get a.....
Post by: Thinkum on February 16, 2016, 06:28:09 PM
Having been in a very similar situation, I would keep it if there is nothing wrong with it. Sounds like you are trying to get out of a car payment on a car with high miles. Why not keep it? If you buy a really cheap car, you will end up paying a lot of money keeping it on the road, even if you DIY a lot of stuff.
Title: Re: keep my car or sell it and get a.....
Post by: zaratekid86 on February 16, 2016, 07:08:40 PM
thanks for all the responses.. yea I was leaning towards keeping it, I just wanted the final push.