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I recently moved to Chicago with my girlfriend. We definitely don't need two cars here, so one car has to go. No need to have a car sitting all of the time.
Here's what we've got...
My car: 2014 Toyota Corolla with 40k miles. It's in excellent condition, has new tires, and is paid off.
My car is worth around $12-12.5K private, or $11K-ish from a dealer. It's a manual transmission, so that will make the car harder to sell (or perhaps easier to the right buyer). Remember that it's completely paid off.
Her car: 2012 Honda Civic with 50k miles. It's in okay, but not great condition. The back bumper has a small gash from a hit & run, the front hood is bent around the edge, the front bumper is loose around the edge, the passenger side mirror is falling off and needs to be replaced, and one of the windshield wipers skips (could just need replacing the blade, but it looked okay to me). I'd say the damage is about $2000 worth, but it doesn't really have to be fixed. Lastly, her car will probably need new tires in a year or so.
Her car is worth around $8500-9500 private, or $7.5-9K-ish from a dealer. The caveat is that there is still a loan with 4yr left and a $11K payoff. Fortunately, the payment is only $200/mo.
I'd prefer to keep my car since it's newer and in better condition and I HATE automatics (especially the 5spd in hers), but she doesn't know how to drive a manual. Also, if we sold her car, we/she'd still be stuck with paying off the difference between the sale price and the loan payoff (could be up to $3000).
If I sold my car, I'd be able to pay off her car loan. But the stipulation is that I'd want to install a nicer radio (having a backup camera is VERY helpful for tight parallel parking in Chicago).
Sell the Corolla. There isn't a choice here. You're going to have to dump money into the Civic to be able to sell it for a decent value, and even then, it probably won't be enough to pay off the loan.
Your girlfriend doesn't know how to drive a manual, so I don't see how you think that's a viable option to have one car for both of you but only one of you can drive it.
Sell your car, pay off the Civic, and don't bother fixing it. Putting in an aftermarket radio with rear view camera is pretty cheap these days.
I think I agree, although I'm Toyota fan. Living in a city can be rough on a car, so might as well keep the one that is already dinged up. It'll hurt less when it gets another ding.
That said... just how serious are you guys? People like to make plans as if they'd never break up. Not any of my business, so on and so forth; but...
I'd sell your Corolla since she can't drive it anyway, and pocket the money for yourself, giving GF whatever is reasonable to use her car, which she should get fixed (why this hasn't been done is anyone's guess).
Based on the fact that your GF's '12 Civic is already trashed, it's not worth putting money into anything nicer. The car has plenty of life left if it's (mechanically) cared for. Parallel parking in Chicago wrecks cars' bumpers anyway, which is why you see those flip out bumper guards. Have you ever looked at most of the cars parked on Chicago streets? They're almost all damaged somewhere. Not only that, the roads in Chicago are terrible and destroy cars, the salt destroys cars, the people don't care about anyone's property and drive off from doing damage, and anyone who parks on the street doesn't care about their car anyway.
Having fun driving doesn't exist around Chicago. Manual, automatic, sports car, luxury car, box truck, it's all the same. Angry drivers, rotten roads, too much traffic. Who cares what you drive; unless you get to drive at off peak times on very specific roads, you'll hate it anyway.
And learn how to parallel park without a backup camera.
The damage occurred on separate incidents years ago, so she/we would be stuck with a $500 deductible x2. Also, the insurance rates might raise due to filing a claim.
Quote:
Originally Posted by jambo101
I'd keep the Toyota so that if you have an argument and get sent to the dog house you'll still have your car.
That's another thing. Since I'd be paying off the loan, the title would be put in my name.
The damage occurred on separate incidents years ago, so she/we would be stuck with a $500 deductible x2. Also, the insurance rates might raise due to filing a claim.
That's another thing. Since I'd be paying off the loan, the title would be put in my name.
Years ago? And you still owe on the thing for 4 more years and $11k?
Jeebus, somebody seen you a-comin'...
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Sell yours. Trying to teach her to drive a stick could mean the end of your relationship, you don't want to go there. Then use the funds from the sale to pay off her car.
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Living in a city can be rough on a car, so might as well keep the one that is already dinged up. It'll hurt less when it gets another ding.
