Hey guys! Long time lurker, first time poster.
I have a three year old car with nearly 30k miles on it. It's under warranty until 60k. I bought it below market, but it was still expensive by my standards... $14k. Now I'm wondering whether I would be better served to go back to the beater lifestyle I had before.
My vehicle prior to this was a 20 year old P.O.S. with 200k miles on it. I drove that car for five years and actually MADE money on it when everything was said and done because it was extremely reliable and I did maintenance myself. I'm looking at the shiny car in my driveway and trying to decide whether to sell it now (for about $2k loss) and buy a $2k replacement vehicle OR keep it and let it depreciate ~$8k in the next three years, but look cool in the meantime and be (mostly) maintenance free.
I know what I'm going to do next time (beater), but I've already got this thing. I'm having a difficult time deciding whether to take the loss and move on now, or take a bigger loss and run this car for awhile. Your counsel would be very much appreciated.
EDIT: Downvotes? Is this not an appropriate question for the forum?
June 22, 2018 at 10:56AM
