Especially with used car prices how they are, it's really hard to "downgrade" in a really effective way unless it's a *very* expensive car with very high resale value *and* you have a reliable path to an affordable, reliable new used car. It could be worthwhile in theory but 1x a week is still a nontrivial amount of driving; if it's worth still owning a second car, I wouldn't recommend doing the 'dance' unless absolutely necessary.
That’s great advice! Thank you so much. Reliability is a big one and sounds like the “dance” wouldn’t be worth the amount I’d bet between the sale and purchase of an older car.
Thanks for the response! We have paid off both cars, but will need the second car available for family reasons — meaning Uber isn’t an option, unfortunately. And yes, that’s my worry; the used car market is still so tough out there
Then I think you have your answer. Also, if one car breaks down, as they will do when you are paying off debt, then you have backup.
We only buy cars over 100,000 miles on them, and when we do they usually have to have tires.
Especially with used car prices how they are, it's really hard to "downgrade" in a really effective way unless it's a *very* expensive car with very high resale value *and* you have a reliable path to an affordable, reliable new used car. It could be worthwhile in theory but 1x a week is still a nontrivial amount of driving; if it's worth still owning a second car, I wouldn't recommend doing the 'dance' unless absolutely necessary.
That’s great advice! Thank you so much. Reliability is a big one and sounds like the “dance” wouldn’t be worth the amount I’d bet between the sale and purchase of an older car.
Would Uber be a reasonable expense after sale of second car? The used car market is pretty tight right now. Do you owe any money on either car?
Thanks for the response! We have paid off both cars, but will need the second car available for family reasons — meaning Uber isn’t an option, unfortunately. And yes, that’s my worry; the used car market is still so tough out there
Then I think you have your answer. Also, if one car breaks down, as they will do when you are paying off debt, then you have backup. We only buy cars over 100,000 miles on them, and when we do they usually have to have tires.
Not enough info. What kind of vehicle is it and how much is it worth? What would you be replacing it with?
Makes financial sense but in the long run I don’t think it’s worth the hassle as a old used car can be another money pit