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View Poll Results: Should I sell my Explorer
Sell Explorer 8 22.86%
Keep Explorer 26 74.29%
Other (please post) 1 2.86%
Voters: 35. You may not vote on this poll

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Old 05-19-2013, 06:36 AM   #21
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I voted sell.... for the reasons you put down...

The depreciation is a sunk cost... ignore it... like a losing stock, nothing you can do...

The decision should be made on a going forward basis.... and with what you put down you would LIKE a car more than the Explorer.... and you would save money doing it..... what is not to like
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Old 05-19-2013, 06:56 AM   #22
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Are the reasons you bought the explorer in the first place no longer applicable ? If so and you can pocket $10K I would get rid of it. A 2012 with 30K miles would be considered high mileage and take about $2k loss but a limited with options, clean looks to be in $36k range retail.
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Old 05-19-2013, 09:51 AM   #23
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Yesterday I voted to keep it (because I think you would lose a lot of money on the sale). But today I have changed my mind. If the costs of selling it and buying another car fit into your budget, and if you really really really want another car, I say, "Do it!"

Life is short, and what are you saving that money for, anyway? You are not poor, so it makes sense to buy it with the excess or discretionary money that you have accumulated during the year. Do not spend beyond your budget, though I do not think that is likely. And, be sure to buy a car that is not only practical, but that you will love.
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Old 05-26-2013, 11:30 PM   #24
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I've decided to do the following:

1. Check and find out exactly what I could sell the Explorer for.

2. I will keep an ongoing search out for the ideal type of older vehicle we might want (ie has the bells and whistles that we do still want, doesn't have those that we don't want, is older but in good condition, etc.).

3. If we find the ideal older vehicle so that we would get a significant savings by selling the Explorer then we will do that. If we don't find an ideal older vehicle then we will keep the Explorer. So - we might end up replacing it in a few months or might end up replacing it later or never.
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Old 05-28-2013, 03:00 PM   #25
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Quote:
Originally Posted by Katsmeow View Post
I've decided to do the following:

1. Check and find out exactly what I could sell the Explorer for.

2. I will keep an ongoing search out for the ideal type of older vehicle we might want (ie has the bells and whistles that we do still want, doesn't have those that we don't want, is older but in good condition, etc.).

3. If we find the ideal older vehicle so that we would get a significant savings by selling the Explorer then we will do that. If we don't find an ideal older vehicle then we will keep the Explorer. So - we might end up replacing it in a few months or might end up replacing it later or never.


Thanks for the update....

But one more thought.... the Explorer will depreciate faster than most cars you would probably buy... IOW, time is costing you....
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Old 05-29-2013, 06:33 PM   #26
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Won't the newer Explorer last longer than the older used $20k car? I think the decision is not just about how much money is sitting in your garage today, but also about how long you will need the car and how much operating and maintenance will cost over its life. Having an older, cheaper car that you will have to repair more often and replace sooner isn't necessarily a better deal economically. If it were, then why not get a $12k car, or a $5k car? But if you will use it so little (say, 3000 miles/yr) that you will never wear any of your car options out, then I say go ahead, sell, and buy the cheapest car that you can find that will be reliable and do the job you have in mind for it.
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Old 05-29-2013, 09:11 PM   #27
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It is hard to know exactly how much driving the second car would get. I'm thinking most years maybe 4k to 5k miles, but it could be less.

One thing that is a factor is that the need for the SUV type vehicle is, frankly, time limited as it is based upon having our dogs. The youngest dogs are a little over 6 years and life expectancy for the breed is about 12-14 years. So, hypothetically, 8 years from now we would no longer have a need for this type of vehicle at all. We would then sell it and buy something else (or maybe not. By then DH is 73 and I'm 67 so maybe we are fine with 1 car by then).

Let's say I sold the explorer and bought a 5 year old car that had 50k miles on it. 8 years from now I probably still have less than 100k miles on it so I'm not really that worried about this second car needing huge repairs in that time period. My experience with most of my cars is that other than the type of maintenance all cars need (new tires, etc.) that they don't usually need a lot of repairs under 100k miles.
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Old 05-30-2013, 12:13 AM   #28
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Ok. Then I say sell the Ford and buy a low mileage 5-10 year old substitute with an eye toward keeping it for 8-10 years. Then keep up on the maintenance, because that car may be 15 years old or more by the time you're done with it.
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Old 05-30-2013, 08:42 AM   #29
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Have you looked at some of the small SUVs Some of them get good gas mileage and have the room you need... CR-V, RAV4, etc. etc....
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