Background: We bought a used 2011 F-150 SuperCrew Cab Lariat pickup truck in June. This was because my husband and I were planning on buying an RV to live in part-time in Florida and we needed something to haul it. We paid $18,300 for it. We currently have a loan for $14,600 at 4.34%, which is $295 per month.
Current situation: We decided to just move to Florida completely (currently live in PA). My job agreed to let me be 100% remote and work from home, so we have a guaranteed $55k per year (plus any overtime I work) until my husband finds a job. He works in IT and makes around $65k currently.
We will be able to live without dipping into our savings on my salary, even with the truck payment. However, we also have a fully paid off 2013 Honda Civic and realistically don't need a second vehicle at all. We will be using the truck to move in December because it will save us a ton of money to be able to haul a cargo trailer rather than paying for a U-Haul for that far of a distance, but after that, should we sell it? It is in great condition and the current "average" KBB private party value in my area is $18,712 - more than we paid for it. We love it and its a great truck, but we'd be crazy not to sell it since we don't need it, right?
TL;DR: Bought truck for a purpose that no longer exists, KBB private party value is above what we paid for it - should we sell?
Edited to add: Not sure if this is relevant or not, but I thought people might be getting the idea that we are older due to our random desire to be snowbirds in FL. I am 25 and my husband is 29, if that helps with context at all.
Submitted September 30, 2018 at 11:26AM by VaveJessop https://ift.tt/2OYh3kd
