Keep or Sell old Faithful Minivan

[sunnynoor]

Facts:  Family moving from Michigan to California. 2 kids in college, 3 school aged kids still at home. We have 2 PAID OFF cars: 1994 Prius and 1994 Honda Odyssey. Each are in good running condition with mileage around 120k each. Book value of either is negligible. Cost to ship cars is $1500 each.  1 college kid is independent, 1 will come with us and drive to college.  So we really could use 2 cars.

Please help me evaluate the choices and advise:

1. Sell: both and replace at destination
2. Keep: both and drive across country
3. Keep one and sell the other (which one?)

[ketchup]

Is there a reason you can't drive them across the country?  That's what I would do, and keep both if you need both.  Even with a "negligible" value, an old car you know is better than an old car you don't know.  And you'd only add like 2k miles to each car, maybe a few hundred bucks on gas.

Also,

1994 Prius

I assume one of these words is incorrect.

[MicroRN]

Unless you plan to go down to one vehicle, I'd keep and drive them both across.  If one was on death's door, I'd get rid of it, but I'm a firm believer in running cars into the ground.  It's paid off, and it won't cost that much in gas.

[2527]

If they are as good as you say they are, I would keep both and drive them to California.  I drove two cars from Las Vegas to PA when I moved, but not at the same time, obviously. 

[HairyUpperLip]

$1500 each for shipping sounds to expensive. You should be able to get a better deal than that. I believe my brother paid $700 from Georgia to California.

I would try to see if you could get both for under $1500 if you prefer the shipping method.

Any more than that and it would be cheaper and easier to drive them.

Remember - the shippers work on their own time schedule so unless you pay extra for expedited delivery they will try to pick up as many cars along the way as possible. California is always a very common destination too.

Can you clarify what the 1994 Prius is? Thanks.

[William]

A Honda and a Prius may be worth more in CA.  I would drive them or recruit a friend to do so.  I'll do it for a plane ticket back home! :)

[sunnynoor]

sorry  guys, 10 year  old cars = 2004, not 1994. Multi tasking mom, plz forgive.  seems like the majority says drive... which has the obvious cash advantage and also the equally obvious hassle factor... I mentioned the 3 school aged kids, right?  Think I got the mustachian answer!

[CarDude]

Yup, keep 'em both and drive 'em until you don't need 'em anymore.

[Bbqmustache]

Keep them until the repairs cost more than the value of the cars!  We got rid of our 1998 Grand Caravan several years ago, when a repair came up that would cost more than the $450 value of the clunker.  With full disclosure, we listed the van on Craigslist for $900 and had $800 in our hands two days later.

Drive them until the depreciation is almost done, then list them on Ebay classified or your local Craigslist.  (Presuming you've been sinking funds into a car replacement fund and can replace said clunker with something less clunky).  Sub $1000 cars go quickly on Craigslist!