Sell It or Keep It?
I got this old car, it's a 91 Honda Civic, gets 30-40 mpg and I've kept up on the maintanence and even bought a new engine a couple of years ago. I'm the original owner.
Then, I got into dog showing. I bought a used minivan that gets more like 20-25 mpg. The intention was to drive the MV on weekends and use the Civic for daily commuting. But I'm starting to really prefer driving the MV. The Civic doesn't have power steering and that's the main reason I don't like driving it. That, and I have to "fall" into it, and I'm not getting any younger. So, I've been thinking of selling the Civic all year as I find myself driving the MV more and more.
I drive about 10,000 miles per year. If I do the math at $4 per gallon using the optimal scenario of driving the cars 50/50, I spend $1667 per year. Without the Civic, $2,000 per year.
Savings on insurance is minimal. I spend about $150 per year on the Civic - yes, that's per YEAR. Annual tags are around $40 per year. I don't count maintanence because I figure it's a wash. I'll aways be driving one car, so the car that gets driven most will be in for maintenance more than the other.
Finally, I'm thinking I could get $1300-$1500 for the car. It is in good shape.
Hmm. After looking at these figures, I think I might come close to even if I sell the Civic, plus have the windfall of $1500. What do you guys think?