How Much Is My Car Worth?

In a fun twist on the what car thread, I'd like to know how much I could expect to get for a car I already own. I just graduated college and am working, I just don't have an awesome big boy job yet. I also have bills to pay and own two cars so I've been debating selling the Miata and using that money to pay off my credit cards and for other important things. I really don't want to do this but its not like I can't find another Miata in the future, when I can afford things again. The Miata is a white 1991 with 175k on the clock. Pros/mods are: Hard Dog Hard Core Double Diagonal roll bar, BSP chassis bracing, turn signal intakes, hard top, softtop delete, Sparco Speed seat, custom shift boot and e-brake boot, FM NB springs, KYB AGX NB shocks, FCM bumpstops, ISC Racing rear upper shock mounts, Jackson Racing front sway bar, Racing Beat sway bar mount brace, NB brakes, Axxis Ultimates brake pads, 15x7 Konig Rewinds, 205/50-15 Falken Azenis, Magnaflow exhaust and high flow cat, some dents, pop-out vents in quarter windows from ISC racing, red cam cover, start button, R-Package front spoiler. I've used only synthetic oil and transmission fluid in since I bought it four years ago. Cons are: Some small dents, a scuff along the passenger side, radiator needs to be replaced, cam cover gasket leaks (I thought putting RTV in the corners was dumb; Looks like I'm actually the dumb one), no speaker grills. All my pictures can be found here. I have and would be including the Jackson Racing rear sway bar, car cover with lock and cable, the spare tire, and maybe the jack/handle, if I can find it. I was thinking around $3.5k. Does that seem like a fair price?

An ad at $3.5K up here would probably net a sale at $3K. A 92 with very, very similar mods (in Smurf Blue) sold for $3K about 2-3 weeks ago. If you hold out $3.5K seems reasonable.

Just be prepared for a life without Miata.

Really, buying alternative transportation and keeping the Miata is the best bet ;)

John Brown wrote: Just be prepared for a life without Miata. Really, buying alternative transportation and keeping the Miata is the best bet ;)

Seriously, right?

Trade you for a 2000 civic SiR with 100K on it.

3.5k sounds about right. what is your other car that you cherish more than said miata? ARE you considering selling that and keeping the miata?

EDIT!: i just looked at your profile. sell the truck, you could likely get 4k for it

A few thoughts:

A truck is a much better single car than a miata. You can do a lot of things with a truck. You can't do a lot of things with a miata. However, anything a $4000 truck can do a $500 beater truck can also do. So you might think of selling the truck, getitng something beater-ish, and keeping your pride and joy.

You'll never get out of the Miata what you've got into it, and you'd be hard pressed to re-create this miata at some point further down the road for what you sell it for. So factor that into your potential savings on credit card debt.

I'm generally a fan of buying cars and less of a fan of selling them, but I'm that way with a lot of things which could explain why I have a lot of cars and not so much money. But I also have no credit card debt.

Another thing to factor in, unless you have nice new relaible cars, in my opinion everyone should own at least 2 cars, if their livlihood depends on it to get to work. You might sell the Miata and then the truck breaks down, which could end up costing you more than you bargain for.

I agree... get rid of the truck, buy a beater truck, and use the Miata for most daily usage. Best of both worlds

mad_machine wrote: I agree... get rid of the truck, buy a beater truck, and use the Miata for most daily usage. Best of both worlds

Forget the beater truck as well because they need tags, regs, and insurance. Rent a truck for the day when you need a truck.

In reply to Jerry From LA:

He's already paying tags, reg, and insurance for two...plus if the Miata goes down, it'll be good to have the spare vehicle in his driveway.

I recently sold a really decent work truck for a grand...so it shouldn't be too hard for him to find these sort of cheap wheels. IF he can get 4K or thereabouts for his Toyota...

thatsnowinnebago wrote:

John Brown wrote: Just be prepared for a life without Miata. Really, buying alternative transportation and keeping the Miata is the best bet ;)

Seriously, right?

Dead serious. A Miata does not fit my life (two young kids that I have to transport regularly, wife on opposite shift) I need a 4 place car) yet I miss the Miatas I have owned. As clapped out and imperfect as they were they were fun tossaround cars.

Keep the Miata. Remember, you know the car and it's issues. You won't on the next one. That's worth real money there; no surprises.

You can rent a full-size pickup truck for ~$20 a day, local rental. If you do that once a month, you're out less than $300 a year. Compare that to the cost to purchase a beater truck, maintain it, and license and insure it.

Keep the Miata. It's a lot better than kicking yourself for the next ten years for selling it.

David

Thing is, I use the truck for my 4x4 and camping fix much more often than I use the Miata as a sports car. Its turned into basically just a toy for me. For my current lifestyle, the truck is a better fit. I know I'm loosing mad amounts of money by selling it but that's just the way this hobby works.

In reply to thatsnowinnebago:

Look at the interest rate you are paying for the credit card debt you would be paying off. Consider that and depreciation as part of the cost of the Miata if you keep it. My guess is if you add those together that car is going to cost you another $1k over the next year plus registration, insurance, etc., etc. Sounds like you're not using it much, either. I'd say dump it if what it is costing you to keep it isn't worth the fun and enjoyment you might get out of it.

Might be a lot of trouble, but maybe you could maximize your cash by selling off the racer bits separately, replacing them with stock junkyard parts, and then selling the car for a bit less. Just an idea.

Just to be clear, this is more of a feeler thread to gauge what kind of assets I have in case I really need to liquidate anything. I really don't want to sell the car and am doing my best to not have to. All the advice is great though, thanks. Its becoming more clear to me now that selling it would just be a short term gain and really wouldn't be beneficial in the long run. I'd get to pay off two credit cards and cover two months rent and that's it. If I keep it, it'll be a classic in six years and then its value will skyrocket, right?

I'm wrestling with this same thing right now about my '95NYG Neon. I'm likin' the sell off go-fast parts (of which there are many), and replacing the stock parts (which I saved). It would be a lot of work, but I'm coninced that it'll pan out the most money.

Don't ask me I just keep finding more of the things....

I love my BMW as a daily and it's even pretty decent dodging cones. This said, I wish I had kept the Miata and just bought an un-modded BMW for DD duty.

That way, they both do what they're best at!