Thinking of Selling my v

Make sure to calculate the difference in annual fuel cost and losses (depreciation and taxes, licensing) associated with buying and selling new cars.

 

Keep it if you like it. You would have to get an older car or a really small one to save money. Comparing payments is hard since others may have put more down via trade and or cash. The first year is significant depreciation. The next owner would get the deal.

 

As said above, you'll have to be really honest with how you'll replace the car. If you want to really save money, you'll have to go to a very inexpensive car (well used)... a 4 or 5 year old Corolla would half your payment. Without knowing your total financial situation (which I'm not recommending you share anyway), it is hard to advise one way or the other. My real advice is to break out the spreadsheets and see what your real costs are and what the real costs would be for a vehicle that would adequately replace the v. Best of luck.

 

I think you should keep it and tell him to go make more money. .

My wife has the V and I love it. I am not sure what her payment is, but it's more than yours. She didn't care to put much as downpayment. But justification comes at the gas station. She had a land rover previously and eat visit to the pump was easily $100. On an almost biweekly basis. You do the math.

 

when you find out how much you are going to lose when you sell it for way below what you owe on it, you, and your husband, will be happy to keep it.

 

Yep. Depreciation hit on cars is pretty big in the 1st three years or so.

The bolded question is not a very useful one at all. That would depend on how large the loan is, interest rate, amount down and term. Long ago, I had a 3 year loan on my former 350Z, so my payments were over $800/month, despite having the lowest possible rate my credit union gave to anyone. I intentionally didn't want a long term.

As for sell it yourself vs. trade, you'll usually get more if you sell it yourself. But, if you're in WA state, trading in saves you on sales tax on the purchase of a new car (not sure about purchased of a used one though). Selling yourself is a hassle though. I've done it a few times.

I have no Prius v wagon but never had any loan on my Prius. I paid for it in full when I bought it, just as I'd done for another previous car.

 

Pretty much the ONLY reason why I don't buy new is, I don't want the outrageous car payment, taxes, and license.

 

Have you considered refinancing, or are you locked into the original deal?

 

The next to last post about hubby buying a "mid-life crisis" car after you just struck a nerve and I'm a guy in the midst of my mid-life crisis for heavens sake! My guess is you pay the bills and see the problem but he doesn't fully get it. Have a healthy spousal discussion about finances and ask that you work together to find a budget for your other expenses together that addresses the core issues in play here. It seems he threw bad money after your good money. FWIW, our Prius purchase will make up the up-front cost and pay for itself in just under 30 months (or less if gas goes over $3.50 average a year). After that it gives us $200 a month in gas savings each month alone. If that doesn't work, he needs to sell the "last thing that caused the problem" and you guys need to unwind the debt load from there. If that means you then sell the "v" and buy a used vehicle, then that's fair as long as you guys work together instead of depreciating expensive toys in denial. (Geez sorry, I went from cars to financial planning to marriage counseling all in one post!)

 

So he buys a mid-life crisis car and suggests you sell yours? Huh?!?! Wth?

 

OTOH, I'm married and I sold my Porsche and CRV to buy a PriusV. The financial analysis was that the best thing was to keep the 9 year old CRV (needed nothing) since it only had 58k miles on it and run it into the ground at 4k miles/year. Why buy the high-MPG car when gas is so low?

But we were in a cash position to be able to do it and I'm enjoying the Vcar wondering if we'll ever get to the first fill-up so I can start to see the real mileage. Took a 110 mile trip the other day and the needle hardly budged, that same trip would have suggested a fill up in the CRV.

Living below your income has its rewards if you live long enough.

 

Our v is my Mid-life Crisis Car.
Never been to Kingston, but I've been on the 101 to Port Angeles
Nice area.

 

Unless there is a dire money situation in the family, or your husband just "loves" to spend his time fixing the family vehicles in the garage....In the long run you will probably end up saving more money keeping your current Prius. Selling it would seem like a short time solution to a long term challenge (saving money).

 

Hats off to you Priuswagon! You have seen the light and bought a vehicle that is a money maker, you probably get 2x the fuel economy that you got with the Sienna van and you still have a van-like vehicle. What vehicle would you have bought if not for the V? How would it compare on the money maker/taker scale?

 

Got rid of excess baggage - (divorced this year), bought a Prius - life is much better. Not the road for everyone but this time, my choice, my money, my reality and no regrets. And oh, the mileage doesn't hurt....

 

Swapping vehicles in the 1st year is a money losing deal for most consumers and besides you are driving the best on the road. People drive across town to save 5 cents a gallon on gas or well out of the way to get a shopping bargain. Why not drive a money maker?