1. Welcome to Tacoma World!

    You are currently viewing as a guest! To get full-access, you need to register for a FREE account.

    As a registered member, you’ll be able to:
    • Participate in all Tacoma discussion topics
    • Communicate privately with other Tacoma owners from around the world
    • Post your own photos in our Members Gallery
    • Access all special features of the site

Need advice: Thinking of Selling my 3rd Car

Discussion in 'General Automotive' started by goufcustom, May 18, 2013.

  1. goufcustom

    goufcustom [OP] 7.62x63mm

    Joined:
    Oct 3, 2011
    Member:
    #64586
    Messages:
    1,328
    Gender:
    Male
    First Name:
    Michael
    Leonardtown, MD
    Vehicle:
    2006 4x4 TRD Off Road DC SR5
    Bed Topper, Diff Breather, aFe Cold Air Intake, Satoshi Grill, Moved Horns, Oil Catch Can, Tailgate Lock, Husky Mud Flaps, H4 65/70W Bulbs, Lower Grill Mesh, TRD Skid Plate, LEDs in the bed, LEDs behind the grill for accent lighting, Parking lights as turn signals, LED turn signals and reverse lights, 5100s up front, eibachs up front, SS extended brake lines all around, 1.5" AAL in the rear, Relentless Fab U-Bolt Flip Kit, ICON Progressive AAL, TRD Wheel Center Caps, HomeLink, Heated Driver Seat, Hella 500 FF Driving Lights, BAMF Diff Skid, BAMF LCA Skids, BAMF Rock Sliders w/ KickOut.
    A year or more ago my wife and I bought a 1990 Mazda Miata, I have put a ton of work into it getting it up and running, it still needs paint, and could use a roll bar, but I dont want to put anymore money into it. We also just had our first kid and moved, so the car is useless to take my new son around in, but it is great for driving to work and running out to the store, or when I down my truck for a few days to do something, like suspension or what not. Having a 3rd car is great, but can be a hassle.

    I found a buyer for the car, and my wife wants it gone... I still like it (you can see the build link in my signature). My wife said if I sell the car I can get a plate bumper for my Tacoma, a air compressor and a nice gun safe that I need now that we have a little one, and still have some left for savings.

    I am talking myself into selling it, but not sure, having a beater car, a spare car, and a convertible is great. I also just finished suspension, clutch, timing belt and wheels/tires, so it has a lot in it.

    Thoughts?


    I have my Tacoma ('06), and my wife has a CR-V ('08) and we share the Miata ('90).
     
  2. Tacoma Mike

    Tacoma Mike 41 Year Toyota/Chrysler Tech/ASE Master

    Joined:
    Aug 6, 2011
    Member:
    #61230
    Messages:
    3,476
    Gender:
    Male
    First Name:
    Mike
    Southern Maine
    Vehicle:
    2011 Double Cab V6
    Large Storage Box, 02610 intermittent switch swap, "Hot Wire" Power Outlets, DRL Shut Off, Disable Fob Beep, Disable Seat Belt Buzzers, Parking Light Mod, Battery Tender, 4 Leaf Spring Pack, Rear Headrest Removal, Custom Ultragauge Mount
    Mike

    Having this 3rd vehicle is a tremendous advantage. I also have a "extra" vehicle and it makes things so much easier. If the vehicle is yours outright then the things you mentioned is to much of an advantage to let go. The hassle of trying to get to work at different times or areas and main vehicle repair is gone. I know it's not a super practical car however just think what happens if one of the others go down. Of course if finances are an issue then it's a no brainier. All I can tell you is as long as I could get away with having it. I would hold on to it.
     
    Last edited: May 19, 2013
  3. ian408

    ian408 Well-Known Member

    Joined:
    Nov 8, 2009
    Member:
    #25619
    Messages:
    10,610
    Gender:
    Male
    First Name:
    Ian
    Santa Clara, CA
    Vehicle:
    09 Tacoma
    3" lift, custom rims, snug top shell, shrockworks bumper, warn winch.
    A third vehicle still needs insuring, registering, fueling, and maintaining. As much fun as it probably is, it's still an expense and if someone wants to buy it (and the price is right), I'd sell it.
     
  4. BostonBilly

    BostonBilly Well-Known Member

    Joined:
    Jan 11, 2012
    Member:
    #70435
    Messages:
    7,441
    Gender:
    Male
    Easton
    Vehicle:
    2015 Jeep Wrangler Sahara
  5. worthywads

    worthywads Well-Known Member

    Joined:
    Jun 25, 2011
    Member:
    #58841
    Messages:
    3,406
    Gender:
    Male
    Peoples Republic of Boulder
    Vehicle:
    05 5-lug access I4 Stick, 70 Challenger Vert
    Your wife wants it gone, you better concede and hand over your balls.

    Or try showing her this thread later with people advising you to keep it and see how that works. :rolleyes:
     
  6. ian408

    ian408 Well-Known Member

    Joined:
    Nov 8, 2009
    Member:
    #25619
    Messages:
    10,610
    Gender:
    Male
    First Name:
    Ian
    Santa Clara, CA
    Vehicle:
    09 Tacoma
    3" lift, custom rims, snug top shell, shrockworks bumper, warn winch.
    Not really a question of handing your balls over at all.

    I had a second car I rarely drove. Cost me $500 a year to register it, another $700 to insure. At the time I sold it, it could have used a new set of tires and even though I didn't drive it much, it still needs things like oil an change and what not.

    Now admittedly, my example wasn't a Miata but my point is the same. You own a car that you throw money every year and get little use in return and its value declines each year you own it. If you didn't have to register or insure it and the cost of ownership was $0, you might want to keep it.

    For me, I have the value of the car in cash and a couple grand a year in extra cash. I kept my balls too.
     
  7. goufcustom

    goufcustom [OP] 7.62x63mm

    Joined:
    Oct 3, 2011
    Member:
    #64586
    Messages:
    1,328
    Gender:
    Male
    First Name:
    Michael
    Leonardtown, MD
    Vehicle:
    2006 4x4 TRD Off Road DC SR5
    Bed Topper, Diff Breather, aFe Cold Air Intake, Satoshi Grill, Moved Horns, Oil Catch Can, Tailgate Lock, Husky Mud Flaps, H4 65/70W Bulbs, Lower Grill Mesh, TRD Skid Plate, LEDs in the bed, LEDs behind the grill for accent lighting, Parking lights as turn signals, LED turn signals and reverse lights, 5100s up front, eibachs up front, SS extended brake lines all around, 1.5" AAL in the rear, Relentless Fab U-Bolt Flip Kit, ICON Progressive AAL, TRD Wheel Center Caps, HomeLink, Heated Driver Seat, Hella 500 FF Driving Lights, BAMF Diff Skid, BAMF LCA Skids, BAMF Rock Sliders w/ KickOut.
    True, the Miata is completely paid off, bought it out right ($2500), and financially I dont have any issues. My truck has 1 payment left, and my wifes car has 3 payments left.

    Making the Miata my primary vehicle over the Tacoma actually reduced my insurance, registration is low at $32 per year, but you are right there is always something to fix about it. But it gets double the MPG of my Tacoma.

    The other issues I have with getting rid of it is that I just finished doing a ton of work to it, I know I wont ever get any of that money back, and I dont really want to keep fixing it.
     
  8. MikeMH

    MikeMH Well-Known Member

    Joined:
    Jul 16, 2012
    Member:
    #82762
    Messages:
    162
    Gender:
    Male
    First Name:
    Mike
    Atlanta
    Vehicle:
    2013 DCSB 4x4 TRD OR
    I'd say you probably break even over time. Think if something breaks on one of your other cars, having the 3rd gives you some breathing room to fix it yourself instead of having to take it in to get fixed immediately so you can keep going to work.
     
  9. ian408

    ian408 Well-Known Member

    Joined:
    Nov 8, 2009
    Member:
    #25619
    Messages:
    10,610
    Gender:
    Male
    First Name:
    Ian
    Santa Clara, CA
    Vehicle:
    09 Tacoma
    3" lift, custom rims, snug top shell, shrockworks bumper, warn winch.
    So a 1990 Miata is worth between $2,000 and $9,000. The average selling price is nearer $6,000. It would be worth knowing whether the car is appreciating or depreciating in value. Miata.net implies it's a classic but I don't know enough to say whether that's true or not-if it is, the car should appreciate in value and you'd probably have to keep it for a long time to get any real money out of it. However, if you want to keep it as a classic, you probably also don't want it for a DD and you might even want to restore it.

    Hard to say without running the numbers but I'd suggest calculating the the real cost of driving it per mile then compare that to the truck. If you really are saving money driving the Miata, consider keeping it but I doubt that you are saving much when you look at the true cost per mile to drive (I could be wrong).

    Definitely run the numbers.
     
  10. goufcustom

    goufcustom [OP] 7.62x63mm

    Joined:
    Oct 3, 2011
    Member:
    #64586
    Messages:
    1,328
    Gender:
    Male
    First Name:
    Michael
    Leonardtown, MD
    Vehicle:
    2006 4x4 TRD Off Road DC SR5
    Bed Topper, Diff Breather, aFe Cold Air Intake, Satoshi Grill, Moved Horns, Oil Catch Can, Tailgate Lock, Husky Mud Flaps, H4 65/70W Bulbs, Lower Grill Mesh, TRD Skid Plate, LEDs in the bed, LEDs behind the grill for accent lighting, Parking lights as turn signals, LED turn signals and reverse lights, 5100s up front, eibachs up front, SS extended brake lines all around, 1.5" AAL in the rear, Relentless Fab U-Bolt Flip Kit, ICON Progressive AAL, TRD Wheel Center Caps, HomeLink, Heated Driver Seat, Hella 500 FF Driving Lights, BAMF Diff Skid, BAMF LCA Skids, BAMF Rock Sliders w/ KickOut.
    I doubt it is saving me money, compared with selling it and using that money for Tacoma gas. The car is worth between $3k and $4k, it needs a paint job, but has little to no rust. It has not appreciated much, the pluses are that it has had all of the major 120k miles work done (by me). I needs a timing belt every 60k miles, so it is good to go for another 60k. I wont restore it, it isnt worth it, would rather get a muscle car to restore, and I am not that good at restorations.

    It will likely go if my interested buyer is serious.
     
To Top