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Now that we bought our family car, it's time to decide the next step with the remaining cars.
We love them both, but we can only keep one. Which one will we sell? How will we rebuild the car fund?
Which Car Will We Sell?
Since we bought our car through Craigslist, we didn't trade in one of the cars we currently have.
They are both 12+-year-old cars and their age is starting to show. Fortunately, it doesn't appear that either needs big repairs.
One of the cars is a Celica – fun ride for sure plus it has good gas mileage (30 mpg). It's mainly used as my husband's commuting car.
The Jetta is a more family-friendly car, but with the Accord, do we need another sedan, especially one with so-so mpg (around 25 lately)?
To determine which car we need to sell, we'll go to the mechanics and get both cars checked out.
The Jetta needs to get its state inspection this month anyway, so I'll ask the shop to go over the car to make sure everything is in good order.
My husband will see if his car is in good shape as well.
We'll use the mechanics' assessments to get an idea of which one would be better to sell off.
How Will We Rebuild Our Car Fund?
As you may have guessed, the money we receive from the car sale will boost the car fund. However, we will also be regularly depositing money into it for the next car.
With the focus on paying off the student loan, the deposits will be smaller than we had recently been making.
We use ING Direct to stash our savings and have a sub account to help us keep track of our progress.
Thoughts on Rebuilding the Car Fund
I'd like to hear from you about selling a car. Have you had to sell one of your old cars recently? Do you have any tips on how to get the best deal?