Hello fellow mustachians,
I have run in to a situation where I am having trouble deciding whether it makes sense to sell my current car (2002 ford explorer, 105,000 miles, no major issues, ~15mpg, based off comps seems to be worth around $4,000) to upgrade to something more sensible (high mpg small sedan/hatch). I drive <5,000 miles per year and do all the maintenance/repair myself, so some of the typical big vehicle negatives are reduced. I am assuming that to upgrade, I would have to part with at least $2,000-$3,000 that would normally be going to Vanguard VTSAX. Does it make sense for me to stunt my savings and take the risk of buying a trouble ridden car to save a couple hundred a year on gas?
FYI, if it matters, I am a single 25yo, 70% savings rate on ~$35,000, Stache is $27,000 mostly in VTSAX , and I really don't think I can go carless at this time