My wife and I currently own a 2014 Nissan Altima w/ about 25k miles and a 2013 Toyota Rav-4 with 41k miles. The Altima is owned outright and we owe about $7.5k on the Rav-4. I'm currently planning on paying the Rav-4 off in the next few weeks. I commute less than 10 miles round trip a day but my wife has more like a 25 mile commute.
I feel like we have too much car. We've been exploring the idea of selling the Toyota (Carmax offered us $14k but I think we could get closer to $16k) and purchasing a car that would be solely used for commuting for about $10k. We would keep the Altima as another commuter and for our longer trips.
Another part of me thinks we are in a pretty good place with each vehicle and would be best off just holding on to these paid for cars. While we could save some in insurance/gas mileage/registration fees, it would be minimal. The biggest advantage would be the gain from sale and cheaper purchase. We also plan to start a family so the bigger Rav-4 may hold an advantage when it comes to lugging around a car seat, etc.
I'm hoping to get some advice around the best course of action. I'm truly torn between the two options. Thanks in advance!
March 31, 2017 at 10:09PM
