Author Topic: Keep the Corolla or the Fiesta?  (Read 4318 times)

WorkingToUnwind

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Keep the Corolla or the Fiesta?
« on: February 09, 2017, 11:11:21 AM »
We bought a sprinter van to replace one of our cars. Which one would you sell?

2013 Toyota Corolla, 60k miles. Bought it new for 18k with a 0% loan. Have about 5k left on the loan. Can probably sell it for about 10k

2012 Ford Fiesta, 110k miles. Bought it for $5,500 cash and could probably sell it for 5k.

RWD

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Re: Keep the Corolla or the Fiesta?
« Reply #1 on: February 09, 2017, 11:39:26 AM »
Sell the Fiesta.

SomedayStache

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Re: Keep the Corolla or the Fiesta?
« Reply #2 on: February 09, 2017, 12:15:47 PM »
Sell the fiesta.  Pay off the Corolla.  Drive it for another 200k miles.

(Owner of a 2005, 175k miles Corolla speaking).

KarefulKactus15

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Re: Keep the Corolla or the Fiesta?
« Reply #3 on: February 09, 2017, 12:32:37 PM »
I just chimes in to say I agree with the others.

I feel confident the corolla is the superior value car to keep.

WorkingToUnwind

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Re: Keep the Corolla or the Fiesta?
« Reply #4 on: February 09, 2017, 01:09:52 PM »
I'll give you that the Corolla is much nicer. I have the s model with a moonroof and remote starter. The fiesta is the bare bones model including crank windows. Still, I thought some super mustachian might suggest selling the Corolla to net some cash (4-5k) and eliminate my 5k loan. But you think the value of the Corolla is worth it? Financially, the difference between selling the two is a $330/month car payment for the next 15 months if I keep the Corolla, the fiesta gets about 5-10 mpg better gas mileage, and Corolla is a bit more expensive to register and insure.

SomedayStache

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Re: Keep the Corolla or the Fiesta?
« Reply #5 on: February 09, 2017, 01:19:03 PM »
I interpreted your original post as meaning you could sell either the Corolla or the Fiesta.  If you sell the Fiesta you will have the $5k from that sale to pay off the remaining loan balance on the Corolla.

Did I misunderstand?

I do think a Corolla will be more reliable and last far longer than a Ford, but it sounds like I might misunderstand your situation and if that is so perhaps my recommendation would change.

KarefulKactus15

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Re: Keep the Corolla or the Fiesta?
« Reply #6 on: February 09, 2017, 01:30:51 PM »
Okay, its time to fess up.  Perhaps I was too hasty to suggest the corolla that cost almost twice as much.


What is your yearly expected mileage to put on the vehicle you keep?

  The answer could greatly influence my verdict.

WorkingToUnwind

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Re: Keep the Corolla or the Fiesta?
« Reply #7 on: February 09, 2017, 02:43:46 PM »
If I sell the Corolla for 10k, I pay off the 5k loan and have 5k leftover in cash, plus a fiesta worth 5k to drive. If I sell the fiesta, I have 5k in cash and still have the 10k Corolla with a 5k loan, which I would not pay off early because it's 0%interest.

The fiesta has crank windows and is not as comfortable as the Corolla. But we already have snow tires for it and a trailer hitch for our bike rack and trailer. The Corolla is a much nicer car but doesn't have snow tires or a trailer hitch. The Corolla has 60k miles. The fiesta has 110k. Fiesta gets better gas mileage (35-38mpg) while the Corolla for me ranges quite a bit depending on highway or local driving (27-35mpg).

I'll probably put 15k miles on it a year, probably 8k local and 7k highway miles.

Not an easy decision I'm finding!

Gondolin

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Re: Keep the Corolla or the Fiesta?
« Reply #8 on: February 09, 2017, 02:50:34 PM »
Sell the fiesta.  Pay off the Corolla.  Drive it for another 200k miles.

(Owner of a 2003, 125k miles Corolla speaking).

This was my original position but...with the cost differential it's really pretty even.

KarefulKactus15

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Re: Keep the Corolla or the Fiesta?
« Reply #9 on: February 09, 2017, 03:55:13 PM »
It may be face punch worthy for me to suggest this, but I would still keep the corolla.   

Unless you have major financial issues, it is a nicer car, should last longer and I honestly think you guys like it more. 

If you keep it for its usable life, you wont remember what a fiesta looks like by the time the corolla dies. 


Final verdict, at 15K a year, sell the fiesta and enjoy the nicer corolla. You will get your moneys worth from it. 

ltt

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Re: Keep the Corolla or the Fiesta?
« Reply #10 on: February 10, 2017, 05:03:49 AM »
Your Corolla will start getting warmed up at 250,000 miles.  Keep it!!

Sell Fiesta, take proceeds and pay towards Corolla.  Keep some money in reserve to insure, pay taxes, etc. if you must. 

mm1970

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Re: Keep the Corolla or the Fiesta?
« Reply #11 on: February 10, 2017, 10:42:25 AM »
Sell the fiesta.  Pay off the Corolla.  Drive it for another 200k miles.

(Owner of a 2003, 125k miles Corolla speaking).

This was my original position but...with the cost differential it's really pretty even.

This is what I think.  Toyotas last FOREVER. I'd still be driving my 2001 Prizm (a Corolla in disguise) if it hadn't been totaled in an accident.

MayDay

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Re: Keep the Corolla or the Fiesta?
« Reply #12 on: February 10, 2017, 11:12:57 AM »
I know Fords have improved drastically in the last 20 years.

If consumer reports or whoever else has good reliability data says the Fiesta is just as good as the Corolla, keep the Fiesta.  But I don't think that is true.  If the Corolla is more reliable, keep it. 

RWD

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Re: Keep the Corolla or the Fiesta?
« Reply #13 on: February 10, 2017, 11:30:28 AM »
I know Fords have improved drastically in the last 20 years.

If consumer reports or whoever else has good reliability data says the Fiesta is just as good as the Corolla, keep the Fiesta.  But I don't think that is true.  If the Corolla is more reliable, keep it.

It's not even close. The Corolla is vastly more reliable than the Fiesta:
http://www.truedelta.com/Toyota-Corolla-vs-Ford-Fiesta-reliability-comparison,266-301

WorkingToUnwind

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Re: Keep the Corolla or the Fiesta?
« Reply #14 on: February 10, 2017, 01:40:08 PM »
You guys are great. Thank you for looking up the reliability data. Sounds like the Corolla is the far better value and 5k loan spread out over another 15months at 0% really isn't bad either.

nexus

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Re: Keep the Corolla or the Fiesta?
« Reply #15 on: February 10, 2017, 04:47:44 PM »
Get rid of the Ford.

Regards,
-Me, a Ford owner that's already gone through the same recall repair twice with my '14 Focus. First issue happened under 20k miles. Barely at 44k miles and issue still happens, will probably take it to the shop a third time next week. Workin' towards that lemon law. :)