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Sell our 2002 Forester L Subaru now, or keep it for a few more years.
My husband says keep, I say sell. ??? We never drive a lot, do some local highway miles and some city driving - husband took the train to work and I worked at home so we need only one car (we are retired) and we still do the same kind of low mileage driving.
Which is a better deal: Keeping for 3 more years or selling? The car is in fantastic condition (almost no dents or scratches, and what there was were mostly removed because we had it partly repainted after someone (yes!) poured paint remover on the back roof as a prank (ha ha) last year. Actually, he did us a favor because now the car looks fabulous and even has new roof racks courtesy of our insurance, mostly.
Current mileage is about 44,500 miles!
We have never been in an accident, have it serviced religiously at the Subaru Dealer we bought it from - we feel it can go for years. Tires recent, all upkeep done, interior excellent.
Price for a private sale in Very Good condition (it is almost Excellent, actually) is around $7,000 on Kelly BB.
The best financial decision is to keep it. It should be relatively trouble free and last for a long, long time with your limited use.
A new one is going to depreciate by thousands the second you drive it off the lot and within 3 years, a new one will have depreciated more than the complete value of your current Forester.
If I read your post correctly, you only have the Forester, right? If so, why would selling it and purchasing a new Forester make economic sense? You said the car is in great condition and you don't drive alot so maybe I'm missing something here.
If I read your post correctly, you only have the Forester, right? If so, why would selling it and purchasing a new Forester make economic sense? You said the car is in great condition and you don't drive alot so maybe I'm missing something here.
Right, it is our only car. We have no need for 2 cars and live modestly anyway.
The car is in great condition and we have it serviced every few months regardless of mileage logged and have done that since day one.
I mean, it SHOULD be in great condition, but I know nothing about the aging of a car's "innards" (GG) and assume it is so. We have never used anyone to maintain it but the actual Subaru dealership, also. So, all repairs or maintenance is done by Subaru technicians and Subaru parts are used.
Only problem is that we have not had any parts to replace, hardly! I mean almost nothing so far. Some brake work, belts I guess, etc. and tires.
What you are missing is that we figure we could get $7000 or less for it now, but if we keep it for, say, 3 more years, it will be worth less and by then we will have spent money on SOMETHING, right? My friend was a mechanic and said at $60,000 we need a timing belt (whatever that is! ha ha!). I am hopeless. I know nothing about cars.
So, I figured if we sell for $7000 we will have no repairs on a new Subie for a long time (I hope) and maybe we save nothing keeping a car that will need repairs.
Keep it. 44k is still a practically new car. Its not really costing you much now anyway.
But I was hoping someone would know if we are spending money (if we need repairs) on an old car when that could go into a new Forester's price, right? Am I wrong?
I figured the math this way: Sell for 6,000 dollars, then buy a new car for $24, 000 or so I guess.
Keep that car for 11 years or even 12...etc.
Or, keep for 5 years, spend maybe $5,000 on tires, repairs, get nothing almost when we sell it: 5,000 + 6,000+ 11K "lost" and could have used that for a new car.
I know that over 5 years the new car will be 5 years old....
Also, am thinking we might be able to hold out for a Subaru part electric car or something like that.
I hope to keep getting Subarus.
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