Hey guys,
Im always looking for ways to to be more frugal. Im very good with car repairs, there is no job I don't feel comfortable with. With that in mind my wife current car is a 2014 ford focus fully loaded that we gave 16,500 for recently that currently has 17k miles. Were considering downsizing to this car
https://greenville.craigslist.org/cto/5160909778.html My wife likes it. Im blessed that she has a frugal mindset. We currently owe about 15k on our Focus. Also the guy said he will take 3500 for the pontiac vibe so I can buy it outright.
What is everyones thoughts? By making this move I calculate that we free up over 10k dollars that can be invested over the next few years instead.
So in summary:
1.) Current car, 2014 Focus worth $16,500 kbb that we owe 15k$ on with 18k miles.
2.) Car were looking at. 2004 vibe, kb value 3500$ 156k miles
3.) Adjusting for average maintenance, this should leave me with over 10,000$ that can be invested instead.
Does anyone see a downside to this, or have other recommendations? Perhaps what you would do in my situation. Also my wife commute is 11 miles, mostly back roads average 45 mph speed limit.