Subaru Forester Owners Forum banner
1 - 14 of 14 Posts

·
Registered
2009 & Jamboree Motorhome
Joined
·
347 Posts
Discussion Starter · #1 ·
We have two Foresters.. The 09 and 01.. We have been talking about going down to one car.. So, the 01 might go.. I am no longer working and really do not use the car thats setting here much.. Wife works 1 mile from the house and often walks to work.. Or I can run her to work if needed.. We have been down to one car before and no real problem..

I set down and figured what it would save us in a year.. Coverage on the car would save $310 per year.. tags for it are $120 per year.. Right now we drive it about 5,000 miles per year.. But if we sell it we would drive the other a few more miles than that.. So Oil and filters are a wash.. The 01 has near new tires, winter tires, brakes, timing belt ect.. Needs nothing.. And I do all my own service work so normal stuff is a wash as will just do more to the other car..

That only works out to about $430 a year in savings.. What am I missing???


Snowdance

Flickr: snowdance38's Photostream
 

·
Registered
Forester X
Joined
·
288 Posts
The opportunity costs of selling plus interest earned on that money each year thereafter.

You save the sales price PLUS the $430 in the first year. Then $430 plus interest on the sales money (assuming you save it) each year thereafter.
 

·
Registered
2014 2.0XT CVT
Joined
·
3,069 Posts
what pointer said is true if you keep the sales money but you probably are looking at only a couple hundred a year in savings. However the benefit of having an extra car may out weigh that.
 

·
Registered
Forester X
Joined
·
288 Posts
Even if you blow it... say you sell it for $5000....

First year savings $5400
Then only count $400 a year after that.
Over 3 years that's $6200.

If your wife works 1 mile away, this seems like a no brainer to me. Although, are you temporarily out of work, or do you not plan to go back?

If you plan to go back, I would keep the car. If you don't, I would sell it and go on a vacation and put some away.
 

·
Registered
2009 & Jamboree Motorhome
Joined
·
347 Posts
Discussion Starter · #5 ·
Even if you blow it... say you sell it for $5000....

First year savings $5400
Then only count $400 a year after that.
Over 3 years that's $6200.

If your wife works 1 mile away, this seems like a no brainer to me. Although, are you temporarily out of work, or do you not plan to go back?

If you plan to go back, I would keep the car. If you don't, I would sell it and go on a vacation and put some away.
I thought about the savings.. Could put some other money with it and buy a CD.. But the CDs I can find only pay .50 per year.. Thats not a lot to make up for the loss of the extra car.. Won't hurt but money will just set in the bank.. Having an extra car is worth some thing.. When I started to figure it out I thought it might be a bigger savings.. Still looking for higher intrest on CD's.. I do like your idea of looking at it in a longer time..

The car should get $6500 to $7000 in this area. Its been garage kept from day one.. Has just over 100,000 miles.. Has tow package, 6 disc player ect.. And is super clean except for a few door dings..

I am 72 and really have no plans to go back to work.. I have retired 4 times.. Time to do it for good this time..

Snowdance

Flickr: snowdance38's Photostream
 

·
Registered
2009 & Jamboree Motorhome
Joined
·
347 Posts
Discussion Starter · #6 ·
what pointer said is true if you keep the sales money but you probably are looking at only a couple hundred a year in savings. However the benefit of having an extra car may out weigh that.
I agree, but thats the had part to figure.. The way things are going the money setting in the bank is worth less all the time..

Snowdance


Flickr: snowdance38's Photostream
 

·
Registered
09 Forester 2.5X
Joined
·
704 Posts
IF you really don't need two cars...why do you have them? Has there ever been a time when you were really happy that you had two cars? Probably hard to account for because you already have them, but I would think about when you might need two cars and go from there. Clearly, this won't really be about saving money. More about, do I really need it or should I bank 6 grand? Would be silly for you to sell and a year later buy another car (after trying to justify not having two cars).

If I was not in any kind of money bind, I would keep two cars. I wouldn't mind spending 500 bucks a year to have that comfort of knowing I have the extra one, should I need it.
 

·
Registered
Forester X
Joined
·
288 Posts
I thought about the savings.. Could put some other money with it and buy a CD.. But the CDs I can find only pay .50 per year.. Thats not a lot to make up for the loss of the extra car.. Won't hurt but money will just set in the bank.. Having an extra car is worth some thing.. When I started to figure it out I thought it might be a bigger savings.. Still looking for higher intrest on CD's.. I do like your idea of looking at it in a longer time..

The car should get $6500 to $7000 in this area. Its been garage kept from day one.. Has just over 100,000 miles.. Has tow package, 6 disc player ect.. And is super clean except for a few door dings..

I am 72 and really have no plans to go back to work.. I have retired 4 times.. Time to do it for good this time..

Snowdance

Flickr: snowdance38's Photostream
You might try to pick up some good stocks or mutual funds while they are low with the extra money. Although at your age (no offense ;) ), I am not sure stocks and mutual funds are the way to go due to the higher risk.

What about an annuity? And some banks (especially reputable online banks like ING and others) are offering pretty good APR still on savings accounts. Granted it's still only 3.5%, but you never know.

Not saying you should sell your car by any means, just thinking outside the box. Granted, I am not a financial adviser either, but I do know the value of the car is depreciating. From a strict business standpoint, even a CD worth .5% is still going to be worth more in two-three years.
 

·
Registered
2009 & Jamboree Motorhome
Joined
·
347 Posts
Discussion Starter · #9 ·
I want to thank those that posted and gave me things to think about..

My wife and I set down and talked about keeping or getting rid of one car.. The up side was we would have the cash in the bank drawing some intrest plus not spend $430 a year.. Some how looking at the car setting in the garage I was sure I could save lots more but it really does not work out that way.

Down side was the new car would get more miles.. and need to be replaced sooner.. We have a two car garage.. But one car is behind the other.. So the back one is the one we use most and its the 01.. So gain about $500 a year or save by not having to buy a new car sooner and have the 2nd car when needed..


Guess we will keep the 01 for now..

Snowdance


Flickr: snowdance38's Photostream
 

·
Registered
2005 Impreza RS Wagon Auto
Joined
·
3,658 Posts
I know you made your decision already but why not sell the newer one? That is a lot of money that can be used/saved elsewhere with larger gains in investment.

I know you probably don't want that, but I have a very practical perspective, if it isn't needed, why have it? I'm throwing around downsizing our family to the foz and a gas getter (old beater) instead of the legacy, so I kinda know where you are coming from. We always carpool anyways. I would consider $430 more than significant, but that's just my $.02
 

·
Registered
2009 & Jamboree Motorhome
Joined
·
347 Posts
Discussion Starter · #13 ·
I know you made your decision already but why not sell the newer one? That is a lot of money that can be used/saved elsewhere with larger gains in investment.

I know you probably don't want that, but I have a very practical perspective, if it isn't needed, why have it? I'm throwing around downsizing our family to the foz and a gas getter (old beater) instead of the legacy, so I kinda know where you are coming from. We always carpool anyways. I would consider $430 more than significant, but that's just my $.02
You would think getting rid of the 09 was the big savings.. But first I am old school about money.. I don"t spend what I don't have so my house, cars, motorcycles ect were all bought cash.. So no payments.. I do all my own work. So little cash outlay except for parts and I get a good discount from Subaru.. We payed $18,850 for the 09 X a year ago..

Also we live in the middle of no where.. So shopping can be a 200 mile trip over several high mt. passes often with lots of snow and Ice.. We most always have the Sky Box on top to help haul stuff so we can do it in one trip. We also pull our popup and camp about a month a year.. The 09 does the best because of the sport tranmission.. We have to make long trips often to see family and the 09 is really a more comfortable car besides hauling more..Also I am much older than my wife.. So odds are I will go first and she will have whats left.. Odds are the 09 with fewer miles will outlast the 01..

When you live in an area like this.. It brings new meaning to (I am going to run down to the mall..) Nearest one in the State is 100 miles south..

Thanks guys.. We hashed that one out and wife says the 09 is staying so getting rid of it is not an option.. Followed a short while later by, would you get that butt ugly 09 out of the way so I can use my car.. :icon_frown:

Snowdance

Flickr: snowdance38's Photostream
 

·
Registered
2005 Impreza RS Wagon Auto
Joined
·
3,658 Posts
Haha, yeah in that case your better off keeping the '09, didn't know that from above. I also only buy things that I have cash in hand for.

If you leased it you would definitely be saving to sell it and start saving for another used Suby. But that isn't the case, can't hurt to enjoy two Foresters, one old school and one new school!:biggrin:
 
1 - 14 of 14 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top