So…I’ve introduced you all to my badass Toyota Prius already. However, I haven’t quite told you about the other car that rounds out our fleet: My 2007 periwinkle Dodge Caravan. Check it out and please *try* not to be jealous.
Yes, I realize that my minivan is beautiful and the fact that it is completely paid for truly makes it a sight to behold. The night shot makes it look even more swank, right? At this point, you are probably wondering how I could even be considering selling this amazing set of wheels. Well, the problem isn’t really with the car itself. It’s awesome. I love it. Not only does it have stow away seating, but it also has side doors that open when I push a button. Do your car doors open automatically? I didn’t think so. Yet, despite all of this minivan’s attributes, we are starting to wonder if we really need a second car…and the main reason we are considering selling it is because we hardly ever drive it.
About two years ago, we started carpooling to work. It makes sense, really, since we do actually work together. But, until a few years ago, we weren’t super concerned about gas prices or vehicle wear and tear or anything like that. We seriously drove two separate cars to work and parked them next to each other like dumbasses. When we had our financial awakening, we decided that it made a super amount of sense to carpool and have been driving together ever since. The result is that we maybe drive our minivan once or twice a month. It has also become very rare that we actually *need* to drive our minivan. When we do drive it, it is typically only because we want to look freaking awesome driving to the grocery store.
So, the question is this: should we keep the minivan or sell it? We’ve come up with a list of pros and cons…and we’ve shared them with you below. Check ’em out!
Reasons to keep the minivan:
- It provides a second, paid off vehicle to use at our convenience.
- It is amazing.
- It has stow away seating and occasionally comes in handy for hauling things (maybe once per year).
- It is amazing.
- In the rare occasion that we need two vehicles at the same time, it is available.
- It would make me sad if we sold it.
Reasons to sell the minivan:
- We don’t really need it and we rarely drive it.
- We have to pay for insurance, license plates, oil changes, and maintenance on it (estimated at $700 per year total).
- It takes up valuable space in our garage, and selling it would free up extra space to keep storage stuff and our children’s bikes.
- We could use the $7,000 that it’s worth and accelerate the early payoff of our home.
So what do you think, my frugal friends? Should we keep it? Should we sell it? We really need your input on this momentous decision. Please share your feelings by commenting below.
Get up to $150 when you start trading at Motif Investing! Through their unique approach to packaged investments, Motif really encourages you to invest in what you know. With no minimum balance requirement and low commissions, it’s the perfect solution for both beginners and seasoned investors who are looking for exposure in hard to find specific niches. We’ll teach you everything you need to know about Motif’s concept-driven investment approach inside our complete Motif Investing review and guide! Or, get started right away and join motif investing for free!