Hi Mustachians,
A little background: Soon before getting into MMM, I bought a 2014 Subaru Forester. I used to have a 2007 yaris, but it had some issues and I was concerned about safety. Safety was one of the main reasons for buying the Forester (Yes, I read the MMM safety illusion article. Nonetheless, I refuse to die by a texting driver hitting me so I can save $10k). Since then, I moved and now live only 3 miles from work on some quiet roads. The biggest trips I'll probably take are 2hr drives to see sister/friends in Albany and 6hr drives back home. I'll probably be driving ~5000 miles a year, less if I start biking. The main reason I'm thinking about getting rid of it is that I won't hit 100k miles for potentially 20 years unless my driving habits swing upwards.
Some financial context:
Assets (sans car):
401k: $95k
Roth: $30k
Taxable Vanguard Account: $35k
Checking/Savings: $35k
Debt:
None, just credit cards that are always paid in full
Income:
A bit over $100k gross plus bonus (10-15%)
Savings Rate:
~70% of net income
What I need for auto transportation:
- Very reliable (I'm not that handy, don't want to deal with a rust bucket, but I can learn)
- Safety (at least I need ABS/side airbags/good crash ratings)
- Good in the snow (I live in NH)
Why I'm rationalizing keeping the forester:
- I already save 70% of my income, so what's the big deal?
- I would probably only save $10-15k, worth the hassle if I could be driving a nice 2014 forester for the next 15+ years?
- MPG is good (~35 highway) and my variable costs are already very low from low amount of driving
- I don't want to buy a car off craigslist that turns out to be a complete hassle, lots of repairs
- It will be a hassle to sell it unless I trade it in
Questions:
- Is it worth downgrading my car given the financial context? If so, why? Give me some numbers. I like numbers.
- HOW would I go about doing that? Sell to dealer? Sell on craigslist? Can I sell this new of a vehicle on craigslist? I have no idea of what to do outside of selling to a dealer/CarMax.
- What should I get instead that's safe/reliable and where to get it without inadvertently buying a lemon (I've done that before)?