Maybe Selling 97 Pathfinder need advice...

[colorado_cabrio]

Soooooo instead of buying a nice not too sport wagon for myself, we bought my wife a toyota sequoia (whoa mama!) but that's another story for another time.

I'm strongly considering selling our 97 pathfinder. It's got 200k, clean beater condition (seat rips, small dents dings, but nothing crazy). It's been ultra reliable for us, and I've got a stack of receipts maintained and services / replacements.

So All the cars I've ever sold have been an enthusiast car of one kind or another, and always tried to find enthusiast to fit the car. This really is just a nice winter/mountain beater, no real target market for me to sell to.

So now for the advice:

1. Keeping it as my own beater means ~$300 / year in insurance to me.

2.Selling it via CL (~$2k) No real pathfinder "enthusiast" sites to sell per-se, no body really mods these vehicles, and it's not winter so not likely to see lots of action for sale side?

3. Make charitable donation and write off the whole KBB value (~$4k) from 2011 taxes.

[Bimmerman325i]

Imo, having a beater thats paid off is nice.

[Roland H]

yes.

[hyperE30]

Imo, having a beater thats paid off is nice.

Indeed..

[colorado_cabrio]

Looks like the insurance is closer to $500 a year...

Maybe take it off the road? No tags or insurance...

For better or worse I own all the cars out right..Never take out a loan on a depreciating asset.

[Roland H]

Never take out a loan on a depreciating asset.

Word.

Unless its a house.

[mkoneod]

That truck will not really depreciate especially in CO...taken off of insurance doesn't really make sense IMO either..

Honestly....Best thing, keep it as a back up or sell it now. Its worth what its worth now or later...The more it sits with those miles means possible issues that will just show up out of nowhere..

[colorado_cabrio]

Word.

Unless its a house.

Don't take a loan on a depreciating house either. Unless you know the socialist dictator is gonna bail you out!

I take it that none of you have experience witha vehicle donation?

[Roland H]

Don't take a loan on a depreciating house either. Unless you know the socialist dictator is gonna bail you out!

You say "a depreciating house" like there are any houses that are actually appreciating right now.

I take it that none of you have experience witha vehicle donation?

I do. It's great, only if you want it to end up in a junkyard, because that's what happens to them. Personally, I can't justify sending good cars to the yard so I don't advocate it.

[colorado_cabrio]

You say "a depreciating house" like there are any houses that are actually appreciating right now.

Don't tell Tim, but most Boulder houses have appreciated through the entire down turn! My neighborhood in particular has been stellar.

[Roland H]

Don't tell Tim, but most Boulder houses have appreciated through the entire down turn! My neighborhood in particular has been stellar.

Just another bubble. Boulder won't be able to maintain their artificial growth for too long.

Besides, living/owning a house outside of Boulder city limits is probably cheaper than owning one within, which will probably be enough to offset the money you might lose on depreciation.

[blefevre]

Yeah, If I had 300-400k cash I wouldnt get a house loan either....

[colorado_cabrio]

Yeah, If I had 300-400k cash I wouldnt get a house loan either....

The realistic alternative on a home isn't a cash payment, it's paying rent...dur

[blefevre]

Ugh, renting.

[Roland H]

The realistic alternative on a home isn't a cash payment, it's paying rent...dur

Paying off a loan on a depreciating asset (that could POSSIBLY appreciate) is smarter than renting (pissing away money).

When you move out of a house, you can rent it out, or sell it, and make money off of that asset. When you move out of an apartment, you walk away with nothing at all. It's like buying a car without a title.