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Old 02-15-2016, 10:51 AM
 
6,345 posts, read 4,777,318 times
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Based on mileage alone, your VW is barely broken in. Of course you could always face a major repair, but more likely with limited use it will last a great many years. Personally, faced with absolutely no savings and a fixed income, I would at least consider some sort of a job to provide for some extras. Of course, that is just me and the way I do things.
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Old 02-15-2016, 11:09 AM
 
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Keep car well maintained and salt off of it and car will last a lot of trouble free years.
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Old 02-15-2016, 11:27 AM
 
Location: Vermont
371 posts, read 398,452 times
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Quote:
Originally Posted by jrkliny View Post
Based on mileage alone, your VW is barely broken in. Of course you could always face a major repair, but more likely with limited use it will last a great many years. Personally, faced with absolutely no savings and a fixed income, I would at least consider some sort of a job to provide for some extras. Of course, that is just me and the way I do things.
Well, without the car I wouldn't be able to get to a job, not that I have been very successful in finding a part-time job. I am hoping to start riding again and get paid for that. But yes, I think of that as well. I have to be careful as my rent is based on my income and there is an income limit of $28,000/annually.
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Old 02-15-2016, 02:07 PM
 
2,676 posts, read 1,081,187 times
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I too am considering the sale of my vehicle now that I live in a senior's residence.
You have more obstacles than I do with close availability of services.

There are so many ways to look at this and I am pondering the same.
Create savings account:
If you sold your car could you save the former expenses into an emergency/rainy-day fund? As you said you don't have any savings and that can be stressful and depressing. You don't need that!
Car vs Buses: Do you prefer to up and go at a moment's notice or are you someone who is able to make an appointment and leave on someone else's schedule.
Sale price now or later:
Even though 70K mileage is low it is really the age of the vehicle that dictates it's condition. Anything 10 years + won't get much.
Networking: create some friendships and find more opportunities through the grapevine like sharing rides.
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Old 02-15-2016, 03:24 PM
 
Location: Vermont
371 posts, read 398,452 times
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Quote:
Originally Posted by kitty61 View Post
I too am considering the sale of my vehicle now that I live in a senior's residence.
You have more obstacles than I do with close availability of services.

There are so many ways to look at this and I am pondering the same.
Create savings account:
If you sold your car could you save the former expenses into an emergency/rainy-day fund? As you said you don't have any savings and that can be stressful and depressing. You don't need that!
Car vs Buses: Do you prefer to up and go at a moment's notice or are you someone who is able to make an appointment and leave on someone else's schedule.
Sale price now or later:
Even though 70K mileage is low it is really the age of the vehicle that dictates it's condition. Anything 10 years + won't get much.
Networking: create some friendships and find more opportunities through the grapevine like sharing rides.
There are many ways to look at it. The more I think about it, the more inclined I am to keep the car. None of us knows what the future holds, and the car gives me freedom to go places I will not be able to go without it. Who knows...in a year I may be unable to drive, or worse. And I will never be able to afford another, that's for sure. If I was closer to shopping, etc. or living where good mass transit is available, I might feel differently.
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Old 02-15-2016, 03:44 PM
 
Location: Silicon Valley
18,156 posts, read 23,094,116 times
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I'd keep a car. Maybe not a VW, but a car for sure. I'd probably sell the VW now while it's in good shape with new tires to get a good price, then buy a used Toyota which will last you many more years for less upkeep.

But, what I can't work out is where all your money is going. I get $890/month SSI and my rent is also 30% of my income, and after paying renters insurance, car insurance, Amazon prime, groceries, gas, etc., I have $300 disposable income. Right now I'm paying that much per month to pay down credit card debt, which I used to buy my latest used vehicle and do a bunch of repairs on it.

But, if you've got $1500 after paying your medical premium, and your rent is $418 which includes your utilities, that leaves $1082. If your insurance is $100 (my car and renters total $75), you spend $300 on groceries (much more than I do), $100 on gas (not likely), you're still at $582 to spend. So, where is your money going? You should have plenty of money for car repairs, is my point.

If you can't have savings, do like I do. Use a credit card to pay for something, then pay it off each month. I can only have assets of $2,000. But, I can rack up credit card debt and pay it off in big chunks every month. That's how I get around the $2,000 assets rule. Not sure if that's your worry, but I think you need to figure out where your money is going. I bet you could work out a better budget.
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Old 02-15-2016, 04:05 PM
 
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I'm not sure of the OP age, but both choices have negatives due to the cold weather and snow where you reside. If you don't have a garage which I assume you don't, you will have to do some scraping off of snow and ice when the weather is bad. On the other hand, having to walk any distance in icy cold weather or wait by a bus stop doesn't have much appeal either. If you have shopping covered and doctors appointments, and dental covered, then have you checked into the cost of renting a small car twice a month. Maybe one of those older ugly duckling cars if they have such a place in your area. If you had a friend in a similar situation, you could split the cost in half, and plan two days of outings per month together. It would probably cost as much or possibly less than carrying insurance, but at least you wouldn't have repair bills to worry about.

This won't help you though if you get a job. What about applying part time at the new grocery store opening up as a checker. Get yourself one of those granny carts, and you'll always have your needed groceries in stock. Or if it is a little further than you said and you have an enclosed patio area, an adult tricycle like this.

http://www.amazon.com/Schwinn-Meridi...adult+tricycle

I had one like this and loved it. I put another large basket in front of the bars as well. The one in the back is big and holds a lot of groceries. But you need a place to store it at your appartment, and preferably out of the elements if possible.

Another thought. Since you say you live in a senior building, I would think there would be others in similar situation as yourself. Perhaps some are unable to drive anymore or can't afford a car. Would you consider offering a service for such people driving them places they have to go, and charging a reasonable sum for the service. That could be your part time job, and put money towards the car expenses. Also, have you checked to see if Enterprise Cars delivers cars in your area?

Last edited by modhatter; 02-15-2016 at 04:23 PM..
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Old 02-15-2016, 04:52 PM
 
Location: Los Angeles area
14,018 posts, read 17,782,140 times
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Quote:
Originally Posted by Soup Nazi View Post
..............................................

I lived most of my life in NYC, and never needed a car. They are such money-sucking beasts!

.................

I have no quarrel with anyone who chooses to get rid of his or her car in order to save the money spent on it, as that is a personal choice. However, once the car has been purchased, it is really pretty cheap to operate and maintain. I have an eight year old Mazda Speed3, on which I pay $1236 a year for insurance and $117 per year registration. The registration was much more when the car was new; in California it goes down each year as the value of the car declines until it reaches a minimum amount, and I imagine I must be getting close to the minimum amount now. I have put new tires on it and purchased a new battery, and had a couple of minor repairs in addition to oil changes. Gasoline is in direct proportion to how much we drive, of course. All in all, once the car was purchased, I figure it only costs me $2,000 to $3,000 per year to operate. Certainly not a "money-sucking beast" by any stretch of the imagination.

To me, the cost of my freedom is worth it many times over.
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Old 02-15-2016, 06:04 PM
 
Location: Vermont
371 posts, read 398,452 times
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Quote:
Originally Posted by NoMoreSnowForMe View Post

But, if you've got $1500 after paying your medical premium, and your rent is $418 which includes your utilities, that leaves $1082. If your insurance is $100 (my car and renters total $75), you spend $300 on groceries (much more than I do), $100 on gas (not likely), you're still at $582 to spend. So, where is your money going? You should have plenty of money for car repairs, is my point.

If you can't have savings, do like I do. Use a credit card to pay for something, then pay it off each month. I can only have assets of $2,000. But, I can rack up credit card debt and pay it off in big chunks every month. That's how I get around the $2,000 assets rule. Not sure if that's your worry, but I think you need to figure out where your money is going. I bet you could work out a better budget.
You are correct that I can't have savings. The credit card is a good idea; I use PayPal as well. This past year I took a big hit with moving expenses, and am just playing catch up now. But you are right about watching where the money goes. I spend too much on food for sure. I need to budget more carefully going forward.

I don't think selling the car and getting another is a good idea. This car is a known entity. It saw me through a cross-country trip and back without any issues, and one way I was alone with a cat and dog and dreaded a breakdown. It has no mechanical issues and still has some warranty, so buying an (unknown) used car seems risky.
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Old 02-15-2016, 06:12 PM
 
Location: Vermont
371 posts, read 398,452 times
Reputation: 755
Quote:
Originally Posted by Escort Rider View Post
I have no quarrel with anyone who chooses to get rid of his or her car in order to save the money spent on it, as that is a personal choice. However, once the car has been purchased, it is really pretty cheap to operate and maintain. I have an eight year old Mazda Speed3, on which I pay $1236 a year for insurance and $117 per year registration. The registration was much more when the car was new; in California it goes down each year as the value of the car declines until it reaches a minimum amount, and I imagine I must be getting close to the minimum amount now. I have put new tires on it and purchased a new battery, and had a couple of minor repairs in addition to oil changes. Gasoline is in direct proportion to how much we drive, of course. All in all, once the car was purchased, I figure it only costs me $2,000 to $3,000 per year to operate. Certainly not a "money-sucking beast" by any stretch of the imagination.

To me, the cost of my freedom is worth it many times over.
I have had so many old cars that always seemed to require $ that not needing one was always a money-saver. The NYC subway never cost me much compared to owning, maintaining and parking a vehicle. In Vermont, a whole different animal. I guess I need to sock some money aside for repair bills and hope for the best. I do like the car and don't think selling it and getting a different make is the answer. It's either keep it or get rid of it. My cousin recently told me she had a $3000 brake repair bill for a low-mileage Toyota. I'm like WTF? All I can think of is the ABS system to be that expensive. It just sounds excessive and got me worried to death. I don't know anything about cars really and can't do any work myself. It's a far cry from the old days where repairs were simple and any gas station could replace say, a fan belt or fuel pump and send you on your way.
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