Thinking about downsizing from 3 cars to 2

PandaBear

PandaBear

Joined
Aug 5, 2002
Messages
23,739
Location
Silicon Valley
Current fleet after crushing a 95 Corolla last month:

1) 08 IS250 108k miles 28mpg
2) 14 Prius V 73k miles 40mpg
3) 97 Integra 269k miles 28mpg

All 3 are reliable and reasonable good condition, I don't drive too much like around 8k miles a year on the IS and Integra, and about 5k a year on the Prius V. Typically wife drive the IS, I use Prius V to drive the kids around and haul a bike in the trunk, and the Integra to commute to work and haul another bike (kids do bike meets with friends during weekend and we need them both to haul both bikes. That bike meet is the main reason I tell myself I need to keep the Integra.

However I am being rational that it is about $500 insurance and registration a year down the drain to keep the Integra when I don't really need it. I can get a bike rack and haul the 2 bikes using both IS250 and Prius V. If I get rid of the Integra I can probably save 500 a year and over 5 years would be a lot of maintenance support for Prius (i.e. cooled EGR cleanup, rainy day fund for battery replacement, engine rebuild, etc), if 10 years it would be even more as you can see.

If I sell the Integra it will likely be worth about 2500 to 3k, due to the condition it is in and it being a popular car here. The bigger concern if I keep it is any possible event that would leads to a scrap (engine / transmission failure). The main benefit of keeping it would be if I crash it the lost would be just an old Integra instead of a 14 Prius. Also some sort of emotional value since I got the Integra new when I was in college and to me it was like a dog that I grew up with (but you cannot expect a dog to live forever).

What would be the rational choice?
 
I would get rid of all the cars as they age and replace with new rather than build a fund for repairs. Why so many cars?
 
PandaBear said:
However I am being rational that it is about $500 insurance and registration a year down the drain to keep the Integra when I don't really need it.
Click to expand...
In the big scheme of things, what's $500 a year to have the convenience of another car to fall back on? The other two might be down for repairs that could take over a week if they need bodywork. You live in Silicon Valley so I assume you make good money and that's not more than a day or two of income for a whole year of car. And if you don't drive it that much, why not get collector car insurance on it? Less than $100 a year.
 
Panda is thinking of the cost of the ownership of many cars. It would seem asking why the cars is pertinent to the discussion.
 
Wow, that integra is a legend and a good handler.
It would be hard to get rid of that. Is it a 5 speed stick?

At least your families extra vehicles are not a F250 Crew Crab and a GMC Yukon N Denial ;)
 
wpod said:
I would get rid of all the cars as they age and replace with new rather than build a fund for repairs. Why so many cars?
Click to expand...
2 adults and 2 children, how many cars do you need? At least 2 I assume? I got the Prius V when I have my 2nd kid, needed the extra space. Kids need lots of space for diaper changing, car seats, etc.

I can do simple repair myself, and new car depreciation is going to cost more than keeping my 3 cars anyways, no point doing what you suggests.
 
Last edited:
atikovi said:
In the big scheme of things, what's $500 a year to have the convenience of another car to fall back on? The other two might be down for repairs that could take over a week if they need bodywork. You live in Silicon Valley so I assume you make good money and that's not more than a day or two of income for a whole year of car. And if you don't drive it that much, why not get collector car insurance on it? Less than $100 a year.
Click to expand...
I think 1500 miles a year is collector insurance. I am maxing out my auto and home then add umbrella on top, it is not $100 a year.
 
ARCOgraphite said:
Wow, that integra is a legend and a good handler.
It would be hard to get rid of that. Is it a 5 speed stick?

At least your families extra vehicles are not a F250 Crew Crab and a GMC Yukon N Denial ;)
Click to expand...
Auto, not 5 speed. Base model, not GSR or Type R, so it really isn't worth much more than $3k.
 
If you have space for them I don't see a rational basis to get rid of any of them. The most logical one to delete would be the Integra but they're highly reliable vehicles, get reasonable mileage and you're using it.

It costs a bit for insurance but it's not depreciating and it's taking some of the load off the other cars. I'd run it till it dropped. In fact I'd drive it preferentially, to "use it up".
 
In BC collector cars must be at least 25 years old (15 years if limited production and manufacturer no longer making vehicles) and in very good condition (unmodified, no dents, no visible primer, no rust or rust bubbles, original or restored interior, etc) . There are limitations on what you can use them for, for example they are only to be driven for pleasure, and not to work or to school.
 
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