Drive your new car for 2 years and sell it for a profit?

2007 Honda Fit 2007 honda fit.png

Last weekend I discovered that the going price for cars with great gas mileage is still rising. I decided, just for kicks, to see what prices people were selling 2007 Honda Fits – which we have. It turns out that many people are selling the exact model that we have with similar mileage for MORE than we paid two years ago!

I know people are trying to save on fuel expenses, but this is just unbelievable to me!

Although we like the Fit, after seeing this news we are considering the idea of selling it. Would you?

My reasons for selling would be…

  • If we could sell it for the same price we paid, then we would have drove a new car for 2 years for free. You can’t find a deal like this.
  • We could drive older cars and knock out the rest of our debt

My hesitations…

  • I painstakingly broke the car in and have taken care of it so that it will last 300,000 miles
  • I trust this car and am confident that it will be very dependable, I am not sure I want to give that up
  • What if demand increases even more over the next few years and I could drive it for four years and sell it at the original price? 😉

I am looking for some reader feedback on this, so we can make sure we are seeing all of the pros and cons of making this move… What would you do?

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  1. Tristan

    That’s a great find, Bob. I wonder if my ’95 Toyota Tercel has increased in value? With nearly 40 MPG, it’s possible. 😛

  2. bob

    I’ll give you $10K for it – deal?

  3. Wes

    I don’t view my car as an investment. It is simply a cost of living. I usually buy used cars and you never know how well they were taken car of or how much they were abused.

    If you like your car then keep it. And remember that if you do get something different, you may not like it as much.

    The grass might seem greener on the other side, but it probably isn’t!

  4. Gholmes

    I would sell and knock out a debt. Wow to drive a new car free what a deal. With the plan to drive it for 300k then that puts a wrinkle in it for me and give me pause. No still would go with the no debt plan. Hopefully people in 4 years car manufactures will catch up to demand.

  5. bob

    I am very tempted to do that as well… I will let you know what the lady and I decide 😉

  6. Victoria

    Very interesting indeed. I feel I’m the real winner here, as I am still driving my beautiful 1977 240D MBZ which was purchased brand new in Southern California. It was put on a boat in 1995 and now is happily living in France. Today it’s a collector’s item and has worth! At the time we paid $15,000 for it. When it’s taken out of doors, it receives lovely praise, and for the moment we have no intention selling it. It is beautiful, original paint etc. Not a thing ever went wrong with this car. It’s been properly serviced and cared for, and God has blessed and rewarded our efforts. Keep what you have and forget about the rest, especially what Tom, Dick and Harry are driving! I’m STILL driving a brand new car! Thank You Father God! AMEN.