Join Early Retirement Today
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

Reply
 
Thread Tools Search this Thread Display Modes
Old 05-19-2013, 07:36 AM   #21
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 13,260
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
__________________

__________________
Texas Proud is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 05-19-2013, 07:56 AM   #22
Thinks s/he gets paid by the post
 
Join Date: Jul 2012
Location: Mississippi
Posts: 1,878
Are the reasons you bought the explorer in the first place no longer applicable ?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.
__________________

__________________
rbmrtn is online now   Reply With Quote
Old 05-19-2013, 10:51 AM   #23
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,846
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.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is online now   Reply With Quote
Old 05-27-2013, 12:30 AM   #24
Thinks s/he gets paid by the post
Katsmeow's Avatar
 
Join Date: Jul 2009
Posts: 3,394
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.
__________________
Katsmeow is offline   Reply With Quote
Old 05-28-2013, 04:00 PM   #25
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 13,260
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....
__________________
Texas Proud is offline   Reply With Quote
Old 05-29-2013, 07:33 PM   #26
Thinks s/he gets paid by the post
 
Join Date: Apr 2006
Location: North Bay
Posts: 1,026
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.
__________________
scrinch is offline   Reply With Quote
Old 05-29-2013, 10:11 PM   #27
Thinks s/he gets paid by the post
Katsmeow's Avatar
 
Join Date: Jul 2009
Posts: 3,394
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.
__________________
Katsmeow is offline   Reply With Quote
Old 05-30-2013, 01:13 AM   #28
Thinks s/he gets paid by the post
 
Join Date: Apr 2006
Location: North Bay
Posts: 1,026
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.
__________________
scrinch is offline   Reply With Quote
Old 05-30-2013, 09:42 AM   #29
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 13,260
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....
__________________

__________________
Texas Proud is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


 

 
All times are GMT -6. The time now is 05:54 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.