Sell mine, or my wife's car?

[ErinH]

My car is a 2006 Civic LX Sedan w/38k miles.
Her's is a 2005 Civic LX Sedan Speicial Edition with 28k miles.
Both are in good shape, have about one ding each but other than that are good.

We're considering getting rid of one of our vehicles sometime this year and going with an SUV like a Pilot or the like. I'm thinking if we had a loan for $11k @ 3.9% for 48mos that would be roughly $250/month payment. That I would be fine with, but I wouldn't want to go past that. On top of this we'd also like to get a house by the end of this year (build or buy), but we'll leave that subject alone since I already have a thread on it.


The only issue is that my wife's is a salvaged title. She usually gets her cars like this for a steal, then winds up selling them for what she paid. She's had 2 civics in the past; paid about $13k for them and sold for the same. They get them through a family friend who buys these cars at auctions, then fixes them up himself. He doesn't profit off the cars he sells to her family.

According to KBB both cars would go for about $13,500 (give or take) in their condition. however, I don't know how to factor in the salvaged title portion.

I'd think we could get $12,000 for hers and probably $13,000 for mine after negotiating. Adding that to a loan of about $11k puts us at $23-24k for a new(er) vehicle.

My only quams about getting rid of my car is the fact that I've got so much equipment in there and would hate to have to pull it all. other than that, I don't mind selling it. It should be paid off in full by May/June.

I work 25 miles away and we will use whichever Civic we keep for my work car.

If you were in my shoes, which one would you get rid of?

 

[mike c]

first in first out.
hers better than yours.



seriously, i'm thinking the car with the older "registration" depreciates faster ... sell hers.
besides, you have no stuff in her car

 

[TLS Guy]

My car is a 2006 Civic LX Sedan w/38k miles.
Her's is a 2005 Civic LX Sedan Speicial Edition with 28k miles.
Both are in good shape, have about one ding each but other than that are good.

We're considering getting rid of one of our vehicles sometime this year and going with an SUV like a Pilot or the like. I'm thinking if we had a loan for $11k @ 3.9% for 48mos that would be roughly $250/month payment. That I would be fine with, but I wouldn't want to go past that. On top of this we'd also like to get a house by the end of this year (build or buy), but we'll leave that subject alone since I already have a thread on it.




The only issue is that my wife's is a salvaged title. She usually gets her cars like this for a steal, then winds up selling them for what she paid. She's had 2 civics in the past; paid about $13k for them and sold for the same. They get them through a family friend who buys these cars at auctions, then fixes them up himself. He doesn't profit off the cars he sells to her family.

According to KBB both cars would go for about $13,500 (give or take) in their condition. however, I don't know how to factor in the salvaged title portion.

I'd think we could get $12,000 for hers and probably $13,000 for mine after negotiating. Adding that to a loan of about $11k puts us at $23-24k for a new(er) vehicle.

My only quams about getting rid of my car is the fact that I've got so much equipment in there and would hate to have to pull it all. other than that, I don't mind selling it. It should be paid off in full by May/June.

I work 25 miles away and we will use whichever Civic we keep for my work car.

If you were in my shoes, which one would you get rid of?

Why do you need an SUV? The Pilot by the way is a problem vehicle I understand. All your vehicles are low mileage. I run mine up to approaching 200,000miles or over. An SUV is useful. However I keep my old 1988 Suburban diesel for hauling towing and putting boats in and out of the water. I bought it in 1990 with 38,000 miles for $16,000. I have had really good service from it. It now does between 5000 and 7000 miles a year and is still a work horse. The point is, that if you need a vehicle just for hauling, find an old pickup or SUV and keep it in original driving condition. That saves a ton of money.

I let my wife have the good vehicle, and I buy vehicles about eight to ten years old, fix them up and drive them to the end of their economic life. I drive a 1994 Chrysler LHS I bought it in 2002, for $5000. It now has 125,000 miles on it. That is economic motoring. Don't leave more at the car dealers than you have to. I have watched cars keep my colleagues poor.

 

[Davemcc]

If you are planning to buy a house in the near future, keep both cars until after you have bought the house, for two reasons. #1. It's best not to be carrying unnecessary debt when it's time to negotiate a mortgage. #2. It's better to have some extra cash (that a car payment might tie up) once you move into the house to cover unexpected expenses, either for repairs or remodelling. Once you are into the new house and comfortable with the new mortgage, taxes, utility bills, etc. then go out and use your discretionary spending on a vehicle.

 

[fitness1]

put them both up for sale and keep the one that doesn't sell...simple as that.
The used market for anything is so wierd right now, take what comes to you.....there's a "jack for every jill" as they say, and someone out there wants one of your cars. Normally, folks are lined up for used Civics with lower mileage (I know, I'm on my 14th new Honda) so it shouldn't take too long if it's priced right.

 

[ErinH]

Why do you need an SUV?

We have two large breed dogs that are hard to fit in our car alone. Every weekend I go to the local skatepark and my wife ocassionally goes with me. We HATE leaving our dogs home alone, especially if we're gone a while. We simply don't have the room to take their pen with us when we go places and we can't really keep an eye on them if we don't use the pen.

Additionally, we constantly have to borrow a car from someone; either my Dad or hers. In general, it's not a "have" to have, but would really help us out sometimes.

If you are planning to buy a house in the near future, keep both cars until after you have bought the house, for two reasons. #1. It's best not to be carrying unnecessary debt when it's time to negotiate a mortgage. #2. It's better to have some extra cash (that a car payment might tie up) once you move into the house to cover unexpected expenses, either for repairs or remodelling. Once you are into the new house and comfortable with the new mortgage, taxes, utility bills, etc. then go out and use your discretionary spending on a vehicle.

This is exactly what my wife said. You are both right.

put them both up for sale and keep the one that doesn't sell...simple as that.
The used market for anything is so wierd right now, take what comes to you.....there's a "jack for every jill" as they say, and someone out there wants one of your cars. Normally, folks are lined up for used Civics with lower mileage (I know, I'm on my 14th new Honda) so it shouldn't take too long if it's priced right.

The only issue with that is the fact that I've got over $5k in audio gear in my car in addition to custom pillars, trunk, etc, since I plan on competing in SQ comps this year. For me to pull it all out for a "maybe" sale would be a HUGE pita and quite frankly, not worth it.

 

[fitness1]

The only issue with that is the fact that I've got over $5k in audio gear in my car in addition to custom pillars, trunk, etc, since I plan on competing in SQ comps this year. For me to pull it all out for a "maybe" sale would be a HUGE pita and quite frankly, not worth it.

if you can't sell it contingent upon pulling the stereo gear, it looks like you have an answer to your question....

 

[ErinH]

if you can't sell it contingent upon pulling the stereo gear, it looks like you have an answer to your question....

Yea, I guess I did. Especially after the response back. I was thinking it might be more mixed and if the popular decision was to sell the car then I was willing to gut it and sell it.