Sell One Of My Cars (insurance, vehicle, mileage, buy)

[johngolf]

I own two vehicles. I bought both new and do not owe any money.

1. 2005 Ford Escape, 118K miles. 8-9 on a scale of 10. Never in an accident.

2. 2007 Suzuki Gran Vitara, 42K miles. 9 on a scale of 10. Had tail light/rear fender banger damage but repaired.

My thinking is sell the Escape and keep the Gran Vitara as it has so few miles.

Your suggestions.

Thanks

[duster1979]

Why are you selling one?

If your plan is to hold on to the one you keep as long as possible, the mileage of the Suzuki would come into play.

But it would probably also bring more if you sell it.

I really don't know that there's a right or wrong answer here if both are mechanically sound, there are pros and cons to either. I would keep the one that you prefer to drive and/or better suits your needs.

[jackmccullough]

You're in the sweet spot of having two working vehicles without a car payment. It's not entirely clear why you initially bought two such similar vehicles, but that's beside the point right now. In order to get the longest time of driving a paid-for car, sell the Ford and keep the Suzuki.

[waitingtundra]

here's what I do, my wife keeps a newer vehicle, full coverage, I keep a older vehicle, liability only, have another older vehicle, liability only. Always nice to have a back-up, ask your insurance company what they would give u for ure vehicles if they were totaled, most likely not gona like the answer, a good working vehicle is more than a little expensive, having a spare car is a great insurance policy w/no hassels.

[JohnZ963]

I'd sell the Ford and keep the Suzuki. Or consider selling both and buying a new car, though you will probably have to put up some more money for this.

[Electrician4you]

Originally Posted by johngolf

I own two vehicles. I bought both new and do not owe any money.

1. 2005 Ford Escape, 118K miles. 8-9 on a scale of 10. Never in an accident.

2. 2007 Suzuki Gran Vitara, 42K miles. 9 on a scale of 10. Had tail light/rear fender banger damage but repaired.

My thinking is sell the Escape and keep the Gran Vitara as it has so few miles.

Your suggestions.

Thanks

How much does it cost to keep each vehicle for a year
Add up all costs.
Registration
Insurance
Maintenance
Repairs
Fuel

Get a true cost of ownership for each vehicle. Dump the one that costs you more. Take a portion the money you get from the sale and place in a maintenance/repair account (you don't need a real account just on your budget sheet) take the rest and place it in a new car account. Add to both each month. Eventually you'll have enough you will buy another car when this one wears out or a heck of a down for a new car. Or a bunch of money saved up