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I bought a 2009 Mercury Grand Marquis Ultimate Edition with 38k miles on it for $7k including everything. It was a impulsive decision to buy. It runs well and its in excellent condition after 1 year of occasional use.
I do think it'll still depreciate. I have a tough time envisioning gas prices going down from where they are today. So you might be better off selling to the Panther crowd, while you can. OTOH if it's costing you near-nothing to run, you might be just as well to keep driving it.
I do think it'll still depreciate. I have a tough time envisioning gas prices going down from where they are today. So you might be better off selling to the Panther crowd, while you can. OTOH if it's costing you near-nothing to run, you might be just as well to keep driving it.
I use it as a back up/emergency/fun car. I never understood the Panther platform hype.
I've had two Grand Marquis's over the years. Nice riding cars. But no way to answer your question.
If you're like me, someone who buys a car with all intentions of driving it to the ground (my 2007 Chrysler 300 I just took off the road I drove for 9+ yrs and it had 239k miles on it), then keep it if you enjoy it. Obviously in this case if the car becomes a repair albatross then you will let it go.
If you buy cars to resell in short order, then do so.
If you buy cars and get bored in 1-3 years and go for a replacement, then lease and save yourself the depreciation hassle.
I've had two Grand Marquis's over the years. Nice riding cars. But no way to answer your question.
If you're like me, someone who buys a car with all intentions of driving it to the ground (my 2007 Chrysler 300 I just took off the road I drive for 9+ yrs and it had 239k miles on it), then keep it if you enjoy it. Obviously in this case if the car beings a repair albatross then you will let it go.
If you buy cars to resell in short order, then do so.
If you buy cars and get bored in 1-3 years and go for a replacement, then lease and save yourself the depreciation hassle.
I am like you. I like driving until the wheels fall off.
I am like you. I like driving until the wheels fall off.
If you're like me, why are you questioning keeping it? If it was an impulse buy, but it's not the size or type of ride you are looking for, then get rid of it if you don't lose much if anything on the sale, and get something you want to keep for a long time.
If it's a backup car, and you don't care for it, and it's in great shape, I'd try listing it at $7k and see if you can get full price. If you get $6k and you can get a backup vehicle for much less than that, then I'd think about doing that. [Another backup vehicle or just save the money--how often do you need a backup vehicle? can you rent a car if the need arises? how much does it cost per year to have a backup?] If everyone offers you only $2k then perhaps it's best to just sit on it as a lost cause.
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