Author Topic: Should I sell my car?  (Read 639 times)

Hellohi

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Should I sell my car?
« on: March 02, 2018, 03:38:02 PM »
I have a 2012 Ford Fusion with about 68k for miles. Itís worth the following

Good condition $5621 trade $7871 private
Very good $6059 trade $8415 private. Iíd say itís somewere in between those conditions.

https://www.kbb.com/ford/fusion/2012/sel-sedan-4d/?vehicleid=364407&intent=trade-in-sell&mileage=68000&pricetype=private-party&options=4577257|true|4859026|true|4577436|true|4577445|true|4577482|true|4577502|true|4577440|true|6139700|true|6377570|true&condition=very-good

I owe $5705, my payment is $339 which I round up to $350, interest is 2.11 and I have a year and seven months left.

When I bought it I was not into FI otherwise I would have gone another way. If I did sell I would purchase a Accord/Corolla around $4k and 80k miles.

ChickenStash

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Re: Should I sell my car?
« Reply #1 on: March 02, 2018, 03:56:01 PM »
Private party sale: +8000
Loan repayment: -5700
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Proceeds: +2300
New purchase: -4000
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Result: -1700

No, I would not spend $1700 (excluding tax, title, etc.) to get out of that car unless something was very wrong with it.

urover

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Re: Should I sell my car?
« Reply #2 on: March 03, 2018, 06:27:59 PM »
Absolutely stick with the Fusion if it has been reliable and decently fuel efficient. A known car is a lot better than an unknown used car, especially given how little it is you'll be saving by switching.

Hellohi

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Re: Should I sell my car?
« Reply #3 on: March 03, 2018, 06:41:53 PM »
Thanks for the responses. I agree, keeping it is better especially with where Iím at in the loan. Just looking easy spots to lower debt. Iíll probably follow up with a case study.

soccerluvof4

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Re: Should I sell my car?
« Reply #4 on: March 04, 2018, 09:40:48 AM »
Stick with the fusion! based on your imput