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Message
Question about what to do with a vehicle
Posted on 1/24/14 at 1:02 pm
Posted on 1/24/14 at 1:02 pm
This post will be somewhat long, just because I want to answer any possible questions that could come up later. I'm going to look at buying a 2011 Malibu soon, possibly as soon as this weekend. For discussion's sake let's assume I buy it. I plan to pay cash. My question is what to do with my current vehicle. A little background:
Vehicle- it's a 2005 chevy trailblazer with 150,000 miles. Mechanically it is perfectly fine. 4 newish tires, new battery, just got the brakes done last weeekend, regular maintenance. It does have some wear and tear though like a few scratches (one may be permanent, and is noticeable), a small chip in the windshield, a small part of the front grille broken off, and regular wear and tear on the interior.
Myself- I'm 28 and single. I don't make a ton of money, but for the most part I think I make good decisions with what I do make. I have (at the moment, although of course this upcoming purchase will change that) about 10 months' salary in the bank, retirement accounts through work, a roth IRA, and no debt. Like I said I don't make a lot, but I feel like I'm on pretty good footing for my situation. I am about to move from my mom's house (I just moved back to the state this summer to get a new job, so it was for practical reasons, not bc I'm a bum) to Atlanta, so my bills and commute are about to go up as well.
Now, on to my main question, what to do with the trailblazer?
SELL-If we're talking absolute pie in the sky best case scenario, I might get $4K for it. Realistically I would probably imgaine closer to 2,500 or 3K. Also I have to go through the hassle of selling it. Still, that's 3K more than I have and it's never bad to have more money.
KEEP-At first, it never would have occured to me to keep it because it doesn't seem practical, I don't really NEED 2 vehicles, and there's a chance I'd have to keep it at mom's since my apt might not let me have it in Atl. But the more I thought about it there are some really great positives. For starters, I go to just about every UGA game home and away every year. It would be great to keep an SUV for tailgating and road trips. And any sporting event really. Beach trips/vacations/concerts would be better with the SUV too. Also if I need to move/haul stuff. The big negative would be increased insurance, but hopefully I could just get the dirt cheapest liability coverage for the trailblazer since it wouldn't be driven that much during the year.
So what do yall think? I'm not trying to be billy badass with 2 vehicles, and I realize that it's probably unnecessary. But the fact is I DO make 10-12 road trips per year to football games, plus a vacation in the summer usually, and I'd love to have an SUV for those compared to a malibu. Still, there's something in my head that's saying it's "wrong" for me to have 2 cars in my situation. Any advice? Tips? Opionions?
Vehicle- it's a 2005 chevy trailblazer with 150,000 miles. Mechanically it is perfectly fine. 4 newish tires, new battery, just got the brakes done last weeekend, regular maintenance. It does have some wear and tear though like a few scratches (one may be permanent, and is noticeable), a small chip in the windshield, a small part of the front grille broken off, and regular wear and tear on the interior.
Myself- I'm 28 and single. I don't make a ton of money, but for the most part I think I make good decisions with what I do make. I have (at the moment, although of course this upcoming purchase will change that) about 10 months' salary in the bank, retirement accounts through work, a roth IRA, and no debt. Like I said I don't make a lot, but I feel like I'm on pretty good footing for my situation. I am about to move from my mom's house (I just moved back to the state this summer to get a new job, so it was for practical reasons, not bc I'm a bum) to Atlanta, so my bills and commute are about to go up as well.
Now, on to my main question, what to do with the trailblazer?
SELL-If we're talking absolute pie in the sky best case scenario, I might get $4K for it. Realistically I would probably imgaine closer to 2,500 or 3K. Also I have to go through the hassle of selling it. Still, that's 3K more than I have and it's never bad to have more money.
KEEP-At first, it never would have occured to me to keep it because it doesn't seem practical, I don't really NEED 2 vehicles, and there's a chance I'd have to keep it at mom's since my apt might not let me have it in Atl. But the more I thought about it there are some really great positives. For starters, I go to just about every UGA game home and away every year. It would be great to keep an SUV for tailgating and road trips. And any sporting event really. Beach trips/vacations/concerts would be better with the SUV too. Also if I need to move/haul stuff. The big negative would be increased insurance, but hopefully I could just get the dirt cheapest liability coverage for the trailblazer since it wouldn't be driven that much during the year.
So what do yall think? I'm not trying to be billy badass with 2 vehicles, and I realize that it's probably unnecessary. But the fact is I DO make 10-12 road trips per year to football games, plus a vacation in the summer usually, and I'd love to have an SUV for those compared to a malibu. Still, there's something in my head that's saying it's "wrong" for me to have 2 cars in my situation. Any advice? Tips? Opionions?
Posted on 1/24/14 at 1:23 pm to WG_Dawg
Rent an SUV for those weekends you need it. You could probably do half a dozen two-day rentals just for what the insurance would cost each year on the clunker, plus you'd be driving a new vehicle.
Posted on 1/24/14 at 1:37 pm to Layabout
quote:
Rent an SUV for those weekends you need it.
Interesting, but that seems even more impractical.
quote:
You could probably do half a dozen two-day rentals just for what the insurance would cost each year
I would need 3 day rentals (Fri-Sun), and it'd definitely be more than 6 times. With football season plus any random trips/vacations/concerts throughout the year it'd be closer to 15ish times.
Assuming I can get the bare minimum insurance for what, like $60 a month? That comes out to way under a year's worth of car rentals.
This post was edited on 1/24/14 at 1:39 pm
Posted on 1/24/14 at 2:16 pm to WG_Dawg
Why would you be wanting to buy another car if you are even considering keeping the old one?
Like you said, mechanically, it's fine. Just me, but I'd drive that thing into the ground, especially if it's already paid for. You can keep your 10 months of salary in the bank and keep watching it grow.
Like you said, mechanically, it's fine. Just me, but I'd drive that thing into the ground, especially if it's already paid for. You can keep your 10 months of salary in the bank and keep watching it grow.
Posted on 1/24/14 at 2:21 pm to Shenanigans
quote:
Why would you be wanting to buy another car if you are even considering keeping the old one?
The main reason is gas. It gets like 16 mpg, and my commute is about to go from 5 minutes to 40 minutes after I move. With gas prices what they are, and the inevitable rise over time, I thought it would be nice to improve my situation in that regard.
Posted on 1/24/14 at 2:28 pm to WG_Dawg
quote:
The main reason is gas. It gets like 16 mpg, and my commute is about to go from 5 minutes to 40 minutes after I move. With gas prices what they are, and the inevitable rise over time, I thought it would be nice to improve my situation in that regard.
Understood, but how much would you really be saving in gas? IE, how long would it take you to recoup the money you would ultimately be spending on the Malibu plus the insurance on it while also still carrying insurance on the Trailblazer?
Not against your thoughts here as the Malibu would definitely be better on mileage and cheaper to maintain monthly, but playing devil's advocate on the whole situation.
Posted on 1/24/14 at 2:34 pm to Shenanigans
quote:
how long would it take you to recoup the money you would ultimately be spending on the Malibu plus the insurance on it while also still carrying insurance on the Trailblazer?
Good question, I'm not actually sure about that. I've kept a budget for the last 2 years, so I can see how much I spend per month, but I'm not sure how to calculate what the difference would be in the different vehicle.
quote:
playing devil's advocate on the whole situation
I appreciate that, that's what I want. Another thought is that, despite it's good condition, it's still a 9 year old car with 150,000 miles on it, so with my new commute plus next football season, it's likely not going to last TOO much longer, plus the gas issue. And I do like those malibus for some reason, not sure why but they tickle my fancy. And if I were to sell the trailblazer, I'd need to do it sooner rather than later just to get SOMEthing back in return.
I'm not sold on either/any option at this point, I'm just bouncing these ideas around.
Posted on 1/24/14 at 2:45 pm to WG_Dawg
If the main reason is economy, get a small SUV like a Civic or RAV4 or Forester and have the best of both worlds. Do you really need a large SUV?
Posted on 1/24/14 at 2:54 pm to Layabout
The trailblazer isn't large, and no I don't need a large SUV.
Posted on 1/24/14 at 3:27 pm to WG_Dawg
trade malibu and suv in on something you want
Posted on 1/24/14 at 3:35 pm to 756
quote:
trade malibu and suv in on something you want
This confuses me. I do want the malibu, otherwise I wouldn't be considering buying it. And if I were to buy it, the trade in value would surely be less than I paid for it.
Posted on 1/24/14 at 4:57 pm to WG_Dawg
The Malibu will be better for the road trips anyway. The trailblazer isn't that much bigger. You'll be much better off on gas if you're taking long road trips.
Sell/Trade it. No reason at all for you to keep it.
Sell/Trade it. No reason at all for you to keep it.
Posted on 1/24/14 at 5:26 pm to LSUtigerME
Yeah the more I think about it I guess there's really no point.
Posted on 1/24/14 at 6:04 pm to WG_Dawg
Got an 05 tblazer as well. I will be trading this in soon for a Honda Losercruiser
I think you should trade it in
I think you should trade it in
Posted on 1/24/14 at 7:06 pm to WG_Dawg
Trade it in man and get as much money for it as possible to go towards the new Malibu. It will save you money. You can make do with a car on road trips.
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