• We’re currently investigating an issue related to the forum theme and styling that is impacting page layout and visual formatting. The problem has been identified, and we are actively working on a resolution. There is no impact to user data or functionality, this is strictly a front-end display issue. We’ll post an update once the fix has been deployed. Thanks for your patience while we get this sorted.

Crunch some numbers: should I sell my car?

Zeze

Zeze

Lifer
ATOT-style to-the-point situation:

1. Moved to NYC from Boston, suddenly my daily commuter has no use. Currently sitting pretty at my parents driveway. I want to keep my car for pleasure and don't want to buy another one when I move out of NYC.

2. I will be living along the Hudson on NJ side, If I bring my car here, I can street park my car with minimal cost.

3. Mazda 6i 2003, 108,000 miles. KBB says $5000-6000. Paid full 4 years ago.

4. Time flies (bought new), the interior is in pristine shape. To me the car is worth far more than $5-6K.

Some numbers

5. Insurance will be roughly $800 a year/ $66 a month + gas. That will be on top of my $104 MTA pass (my NY daily commute)

6. I will be in NYC for next 2-3 years at the least, just starting my new job.

7. I don't love NYC, I feel 'trapped' here because I can't just pick up a car and drive. Rental nearby comes out to $80~ a day, surprisingly Zipcar is more.

Initial numbers say $90/mo ($66 + gas) is not worth it, just get a rental as needed.

A. Sell it for $5-6K
B. Keep it at parents for at least 2-3 years (further depreciating)
C. Pay $90/mo and use it at NYC/NJ

What do you think?
 
C. I would pay $100 a month for convenience of having a car on standby. I pay lot more for my fun car.

That car is pretty worthless. I wouldn't worry about further depreciation and would only carry liability if you're not already.
 
I don't know what the area up there looks like, but I'd have a hard time getting rid of a well running, paid off car. If you don't care about having the latest/greatest auto, I'd be inclined to keep it. You'd have a hard time getting a car for $5-$6k that you knew wasn't abused.
 
Didn't you just accept a job in Queens? Why would you move to NJ only to commute back to Queens? You could have moved to Brooklyn, Queens, even Nassau, and found a place with off street parking, then just drove to work if you didn't feel like using bus or subway. Does your gf work in jersey or something?
 
Lifted said:
Sweet. Now we know who wears the pants in that relationship. 😀
Click to expand...

She works in Big 4, working disgusting hours- comes home at 10-11pm near regularly exhausted.

Meh, I'll never win against internet. Alright, on with the 'because I bang ur GF' lines. 🙁
 
I would just sell the car. Dont want to burden the parents with a car just sitting there taking up space, you aren't really going to use it. And if all goes well with the job (promotion etc.) then by the time you need a car again you will be making enough to get a new one 😀 besides 5-6K would let you pay of any existing debt (if there is any). Or you can put it into an interest bearing account for that new car. throw in maybe 100-200 bucks a month you would be spending on the car anyway into this account. By the time you need a car you could probably pay most if not all of it in full.
 
here are your choices

1.if its full and clear just fricken keep it.

2. if spending $66 bucks a month on insurance chapps your ass sell it.

3. if spending $66 bucks a month on insurance chaps your ass then drop the insurance and take your chances.

4. if spending $66 bucks a month on insurance chaps your ass then reduce your insurance to liability.

5. $66 per month is cheaper than selling it and in 3 years buying a new car for several hundred a month in payments.

if i was you, i would keep it and consider the money being spent a part of life. I would still have a good car that i could use when i wanted. my DirecTV bill is more than that.
 
Last edited:
Maybe its cause I live in Southern California, but I could never do it without a car, even if public transportation was up to par
 
Zeze said:
She works in Big 4, working disgusting hours- comes home at 10-11pm near regularly exhausted.

Meh, I'll never win against internet. Alright, on with the 'because I bang ur GF' lines. 🙁
Click to expand...

Sorry, I'll try to get her home earlier next time :awe:

Seriously, I would keep it. Assuming you're living in Hoboken or Jersey City, having a car there is a bit of a PITA but I think generally worth it.

Also, FWIW, you could probably get about $8k for the car b/c the used car market is stupid right now.
 
I've been car free for a year now and it is fantastic. If I really needed a car for some reason I could easily borrow someone's ride or just rent a car for a day.
 
Do you have any debts that a $5k lump sum would help clear and would result in saving even more money?
Or is there something you could do with $5k to make it worthwhile having $5k in hand?
 
I couldn't imagine living somewhere without a car, even in the city where stuff was generally close or within walking distance.

I'd pay the insurance and street parking fee. That said, I'd never move to NYC area.
 
Nice car. Don't sell it yet, wait a bit and see how things work out. You can always sell it later. You don't yet know what it's like to live on the Hudson in NJ with a car - it might be nice, it might be an expensive nuisance.

Just my opinion, of course.
 
You could always sell the car to TripleAAA's girlfriend...she's apparently in need of an inexpensive car that gets good mileage...

😛
 
You must log in or register to reply here.

TRENDING THREADS

Back
Top