Hello!
So I have a '09 Ford Fusion, still owe 9k on it which is about what it blue books for. I was dumb when I was younger and bought it on a much larger loan then I should have. I have just finished paying off my credit card debt. Have been making 42k/year but going back to school in January for my masters so in a few weeks, I'm not certain what my income will be, though I'm not that worried about finding something that more than pays the bills after a little while looking. I certainly would love to not have a car payment for the rest of my life moving forward. I don't plan on ever having a car again that I can't pay for up front in cash.
My basic question is should I just payoff that car as quickly as possible and keep it? Or should I list it to sell while paying it off, and the first time I can make enough profit to sell it and get a more Mustachian ride, do that. Say a 3-5k Corolla or Civic, some sort of smaller stick shift with better MPG, even though at that price range it may be several years older than the Fusion. Or should i not list it to sell, and just blast away until I have the ford completely paid off, then sell it and buy cheaper so I actually end up with some cash leftover? Is there any justification for having a midsize sedan when I'm single with no kids? haha Anyway all thoughts are welcome! Thanks!