What to do?

[Boilerup15]

I have a very hard decision to make that doesn't really need to be made quickly. But here it goes, and I would like your guys advice. Should I sell my truck to get something more fuel efficent? I ran a KBB on my truck and private party comes back $16,875.00. I realize I may be able to get a little more because of the mods, but I would have to find the right buyer. I am thinking about selling because gas prices are killing me and I heard on the radio the other day they are expected to be around $5.00 a gallon by the end of this year. Here is my problem, I love my truck! I live out in the country where sometimes 4wd is needed. But on the other hand, we also have a Jeep Liberty that has 4wd. It Kbb's at $9,140.00. We owe about 10k on my truck and about 8K on the Jeep. Obviosuly the Jeep gets better gas milage. I have started looking into vehicles like the Impala or something more sporty but still fuel efficent and front wheel drive. I just don't know what to do, because I enjoy my truck so much, but financially, I don't know if it is the right thing to have. What are your opinions? By the way my truck has about 75K miles and the Jeep has 95K.

 

[Zembonez]

It's a tough decision. I would not make it based on the "possibility" that gas will hit 5 bucks a gallon though. That kind of so called "news" hits the airwaves all too often and turns out to be false.

Lots of people like to scream the sky is falling.

Even if we do get another spike in gas prices (very possible) it will come down just as fast as it goes up - just like it have every other time it has gone way up.

 

[Bigredmariner]

Put it on the market and see who bites, it's a great looking truck so it probably won't sit for sale very long.

 

[KillaF150]

I've been tossing the same idea around myself. gas is $3 here and I don't see it going any cheaper. Since my truck is paid I don't have to worry about a payment, BUT I still have gas and insurance. I've been looking at buying a used mid-sized car and drive it as my DD, but still keep the truck for leisure. I'm like you, I LOVE my truck, but sometimes we have to do what's best.

 

[DofD]

It's a tough decision. One, I wouldn't believe everything I heard on the radio. Be glad you're not up in Canada with the gas prices here. But also I wouldn't expect the price of gas to come down long term.

Have you done a household budget to get an over view of expenses and to tell how various options would affect that? Is it affordable to keep your truck? If it's not really financially feasible, then that is your call really. It's always hard to give up something one loves, but sometimes it is needed for success over a longer term.

 

[Boilerup15]

Here is something I would be looking at. http://www.autotrader.com/fyc/vdp.jsp?ct=u&car_id=291186334&dealer_id=565023&car_year=2008&model=CHEVIMP&pager.offset=25&search_lang=en&start_year=1981&scarid=289953942&search_type=both&distance=25&rdm=1294275928626&marketZipError=false&lastBeginningStartYear=1981&end_year=2012&make3=PONT&showZipError=n&make2=CHEV&page_location=findacar%3A%3Aispsearchform&body_code=0&first_record=26&default_sort=newsortbyprice_DESC&model3=G8&address=46750&sort_type=priceDESC&model2=MALI&max_price=15000&awsp=false&make=CHEV&seller_type=b&num_records=25&cardist=20&standard=false

 

[gsta86]

buy a bike. thats what i did. now a tank of gas lasts me a whole week! really, i'd just cut back on other things in life. no more drinking, smoking, eating out, cable, lower cell phone plan. eat hot dogs and rice for meals. whatever it takes, just don't do it. get rid of the jeep first. can't haul or tow or 4 x 4 as good as your truck most likely. it is closer to a car then your truck, so might as replace it with a car.

 

[mr_bots]

If really strapped you could always hold out for a bit where you'll have enough that once you sell the truck you can pay off the Jeep that way you only have one payment.

 

[Darkanion]

If really strapped you could always hold out for a bit where you'll have enough that once you sell the truck you can pay off the Jeep that way you only have one payment.

I was going to suggest something similar.. Sell the truck, put that $$ into what is owed on the Jeep, pay the Jeep off ASAP, and get some sort of cheap-something-else to run back & forth to work..

Get rid of your payments and the gas won't be as big of a bite.. The problem is getting from where you are now to NoPaymentsVille..

Good luck!

 

[Boilerup15]

Well I officially put it up for sale today, I put a price of $18,500.00 on it. I know it's a little high, but that gives me room to go down a little and still get what I want out of it.