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r/personalfinance•
Logi15

Sell my secondary car - WWYD?

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What would you do?

Currently have two vehicles, an older Nissan Sentra that is my daily and a 2015 BMW 428i. Issues are starting to pop up on the Sentra as it reaches closer to 200k, so I am looking into a new vehicle soon that will be used as a daily and weekend off-roader (Right now, I am either 2022 4Runner or the new ZR2 Silverado)

With the way the used market is right now, I am getting estimates for 19-21k$ for my BMW. I bought it used in 2017 for $27.5k, and currently only have 51k miles on it. No issues right now, but the N20 engines have been pretty notorious for issues once mileage gets up. The estimates I have been getting seem pretty good.

I don’t need to sell my BMW to afford a new car, but wanted to sell since the opportunity seems ripe. I would use the money from it towards long term investments.

Posted Sep 19, 2021, 4:48 PM UTC

011
InteriorAttack​•

sell both cars and buy the 4runner

6
Logi15OP​•

Yeah, if I can get a decent amount for the Sentra, I will; but did want to have that second car just in case. Having two cars has been pretty convenient if I take one in for general maintenance so I can use the other for my errands, etc…

1
exconsultingguy​•

Sell both, buy new car that fits your needs.

4
Logi15OP​•

Yeah, was definitely an option; but having the 2nd car just in case has been useful especially since I make no payments on either car aside from insurance and the Sentra may only net a few thousand if that.

1
exconsultingguy​•

Double insurance, two vehicles to maintain (oil, brakes, etc.) and just because you don’t have a reliable enough car to not worry about it dying?

C’mon I drive a 16 year old Lexus with 185k miles on it and I’d drive it across the country tomorrow without any worries whatsoever.

1
Logi15OP​•

The Sentra is cheap to maintain and insurance on it is less than 20$ a month; but I get what you are saying. I will market it around to see what I can get for it.

I drove those little thing from California all the way back to Atlanta, lol. No issues until recently, but Nissan said it now needs about 5k+ in repairs.

1
IceCreamforLunch​•

I’m in a similar spot. I’m selling my very valuable truck and I’m going to buy something for 1/3 what I’ll get for it to put boats in and out and pocket the rest. If you have a vehicle you don’t need right now you’d be crazy not to.

2
DickeyDooEd​•

You might want a new car but finding Inventory at a good price is tough right now. Good Luck on whatever you do.

1
Logi15OP​•

Yeah, that is the only downside. I have a Costco membership, but no hits on any new 4Runners right now since Costco is strict with their pricing on their Auto Program.

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DickeyDooEd​•

Yes, it took me 3 months of waiting and looking to find what we wanted. I had no idea when we started our search that there was a chip shortage. The dealer we used only had 2 of the model my wife wanted and they were gone that day. We just had to be patient. We really did not need a new vehicle ourselves she just wanted an SUV. In the end we got very lucky to get what we wanted at 4% under invoice and a $1500 rebate. The value of our old car actually went up. Carvana offered us 5k more then CarMax and the dealer which is way more than expected and they made the process way too easy. I am glad it's over and the wife is happy.

2
Logi15OP​•

That’s great.

Yeah, I am patient; I don’t need a new car but would want one that is more practical than a 2 door BMW, lol. I love my BMW, but definitely need an SUV or truck more plus if I can get anything close to 20k for it, then it is a steal.

1