Author Topic: Should I Downgrade my Car?  (Read 1353 times)

Marian

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Should I Downgrade my Car?
« on: February 08, 2015, 09:22:24 AM »
Hello all,

I made the misguided decision a few years back to buy a brand new car (but it will be more reliable! And I want the warranty!!!).  So I traded in my little Kia Rio for a 2012 Hyundai Elantra.

The Good:

It's a manual! I've always driven manuals, and think that they're just more fun (and cheaper!)
It's have no extra fancy features.  I just wanted cruise control, power steering, and air conditioning (the Kia had had none of these, and I was facing a cross-country move at the time)
It's a wonderfully reliable car and gets about 35+ mpg on average

The Bad:
It's new!
And it's a mid-size car that I usually drive alone in.

This Elantra will be paid off soon, once I get my taxes all done.  I'm facing another cross-country move pretty soon here, after which I will be living in Eugene, OR- one of the more bicycle and alternative-transport friendly small cities out there. 

My conundrum is this: after the move, I could sell the car for between $8k-$9k, pay off the remainder of my debts, and buy a little beater for about $3k.  But this car is already such a good one... other than being newer and a little large for one person, it's a pretty Mustachian ride. 

I'm interested to hear: what do you recommend?