Time to sell?

[roscoe1972]

I love my Mirage, and it will be 6 years of ownership at 82,000 miles next month. I have two young kids and also drive a Kia Sorento V6 as the family hauler.

I can't ignore how insane my car's value is right now and how I could use that money to pay off debt. The problems are...
1. I drive A LOT, roughly 25k per year and if I get rid of the Mirage all of those miles and extra fuel cost will land on the Sorento. 2. My wife drives an Elantra 1.8L with 155k miles and I thought if it's engine blows she can drive the Mirage until the car market return to normal 3. I missed driving stick before getting the Mirage, and the second I sell it, I will get bored driving the SUV.

When my in-laws saw that I drive two cars they though I was insane. Can you give me some advice?

[Fummins]

Do you really need a Sorento? Maybe sell it, the Hyundai and pick up another Mirage? That car should last another 10 years and if it doesn't it's cheap like borscht to keep alive (used parts from lkq) until it rusts away.

My wife traded her 15 optima for a 20' sorento and carried over a bunch of previous debt from the Optima....She could probably flog the Sorento right now for close to what's left owning on it right now, or maybe even walk away with some money. She's not keen on the idea though so I'll just bring it up again when it dies out of warranty.

[Top_Fuel]

...it will be 6 years of ownership...

So you have a 2015 ES 5-speed with 82,000 miles. What do you think you could get for it in this market? That's gotta be part of your consideration (...and I'm curious because I have the same car and wonder what it's worth )

I assume your Sorento is the newest/nicest/lowest-mileage vehicle of the fleet. It also probably gets half the fuel mileage of your Mirage. So let's assume the following:

Sorento...20mpg
Mirage.....40mpg

At $3/gallon, your fuel cost for 25,000 miles (1 year) in each vehicle would be...

Sorento...$3750
Mirage.....$1875

Over the next 2 years, you'll spend almost $4,000 more on fuel if you drive your Sorento instead of your Mirage. You'll also put 50,000 miles on your Sorento...which may drop its value significantly (by maybe $5-$8K?!?).

So you could argue that you'll burn up about $10K in fuel and depreciation in your Sorento over the next 2 years if you drive it and sell your Mirage.

[defensivetackle88]

Kinda hard to say since OP has not mentioned pros and cons on having 1 car. I don't know what is the goal? Save $? Make $?

I have 2 little ones with 1 SUV and ever since I sold the prius it has been an adjustment. I still work from home and it works out decently until me and my wife needs to borrow a car which gets old really quick. I miss shifting gears and hypermilling at the same time and that's where I am at with the pending purchase of the 22 G4 ES MT.

One thing for certain is that 2 vehicle is almost better to have than 1 especially when both have different purpose

[Dirk Diggler]

I love my Mirage, and it will be 6 years of ownership at 82,000 miles next month. I have two young kids and also drive a Kia Sorento V6 as the family hauler.

I can't ignore how insane my car's value is right now and how I could use that money to pay off debt. The problems are...
1. I drive A LOT, roughly 25k per year and if I get rid of the Mirage all of those miles and extra fuel cost will land on the Sorento. 2. My wife drives an Elantra 1.8L with 155k miles and I thought if it's engine blows she can drive the Mirage until the car market return to normal 3. I missed driving stick before getting the Mirage, and the second I sell it, I will get bored driving the SUV.

When my in-laws saw that I drive two cars they though I was insane. Can you give me some advice?

Don't trust your wife with a manual transmission. All PC virtue signaling aside, just don't.

[defensivetackle88]

If the $ from selling the mirage would help completely wipe off debt, I could see it as a wise choice. Being debt is not fun.

What if OP eventually need another car that by then the market won't be in pre COVID era? Is OP ok to face that reality? No one's know when chip shortage will end. I argue it not smart to live life base on hypothetical situation. Just me 2 cents.

[Christopher_B]

Could you not sell the Elantra? I guess it depends on who drives more? I think the fuel savings and low ownership costs of the mirage make it the keeper of the three. Maybe take insurance off of the SUV and store it. Then pay extra on the debt.

[Mark]

I love my Mirage, and it will be 6 years of ownership at 82,000 miles next month. I have two young kids and also drive a Kia Sorento V6 as the family hauler.

I can't ignore how insane my car's value is right now and how I could use that money to pay off debt. The problems are...
1. I drive A LOT, roughly 25k per year and if I get rid of the Mirage all of those miles and extra fuel cost will land on the Sorento. 2. My wife drives an Elantra 1.8L with 155k miles and I thought if it's engine blows she can drive the Mirage until the car market return to normal 3. I missed driving stick before getting the Mirage, and the second I sell it, I will get bored driving the SUV.

When my in-laws saw that I drive two cars they though I was insane. Can you give me some advice?

What would be your yearly insurance costs for 2 vehicles verses the 3 you currently own?

If I wanted a slightly larger manual vehicle, I would consider a slightly used Outlander Sport -

https://www.cars.com/vehicledetail/a...-2b782ffd96c9/

Trade two of your vehicles (Sorento & one of the others) for one used Outlander Sport manual.

If you thought the Outlander Sport manual could pull off family hauling duties, you wouldn't have to give up your manual fix.

I am just throwing out thoughts. You need to have a spouse that open to driving a manual, too.

[dspace9]

Maybe park your Mirage for the winter, driver in the summer only. Sounds like you can afford to if you have two cars now. Then have the Mirage in the summer for the fun 5 speed and the

Have the heavier car for your winter in Illinois. My Mirage has been pretty good over 8 years driving now, car looks brand new inside and the body is no rust from oiling it every year. Some people like to waste money, but I'm a typical cheap skate eco thinker who knows how much effort it takes to make money.

I have been thinking of selling my car this summer in the States, since I can get more money for my car. I'm not going to sell it for less why would I. Not paying for my laziness trading it in lol. My Mirage is so clean inside and out, like my house.

Maybe go to Budget rental after the sale and drive home.

[roscoe1972]

Thanks for all the great feedback!

I think of myself as a car enthusiast on a non-existent budget. I wanted a fun, weekend car to drive the dogs around in, and Back in March 2016 Mitsubishi had the deal of a lifetime on a car I could afford.

It is paid off and costs next to nothing to operate. I bought the 2017 Sorento a year and half ago, and took a gamble with the V6 and gas prices, but I am happy with it thus far. I try to use the mirage as much as I can so that the MPG on both vehicles balance each other out.

My wife was driving a manual 2006 Suzuki Aerio (which I actually traded in for the Mirage) when we met, and the syncros or something seemed to be going. She would shift at very low RPMs in 1st and 2nd. I told her she should probably get automatics from now on.