I currently drive an 07' Avalon, it's completely paid off, is under my name and currently has about 85k miles on it. The reason why I am considering selling it is because I can probably get anywhere from 7-8k for it (which would help me free up some cash and have some savings) and I figured I can buy an older, smaller, reliable car like a corolla or a mazda 3 for 3-4k.
It's a great car, and it's never been in the shop for anything other than routine maintenance like oil changes/brakes (although it will soon need a new CV boot and new round of fluids, which I currently do not have the money for) but honestly it's a little bit too much car for me at this point (single guy in my 20s) and since I am in college I really just want to get something smaller and a little more gas friendly (I am assuming I would save on insurance as well).
My only fear of selling it, is that I end up buying someone else's junk. Ideally, given my budget I am probably going to be able to afford a car that has over 100k miles on it. I know what to look for when buying a used car, but still there's always that lingering risk that I may have missed something which will cost me money down the road. I like to have at least 1k saved up in addition to the purchase price of the car just in case something goes wrong with it.
Anyway, let me know what you think. Should I sell it? Or just keep it and save up for the repair it will need in the future?
December 30, 2016 at 01:57AM