I have a 1990 Toyota 4Runner with about 75,000 miles. It's in perfectly good shape but with gas prices as they are (and living in the city), it just no longer makes sense to own it. Does it make sense to try to sell it? If so, how? If not, then what?
This decision is based solely upon your needs and financial situation. If you do decide to sell the vehicle, the first step is to have it completely detailed (cleaned) so that it looks and smells like new. Polish it inside and out and have the basic mechanical maintenance work done (oil change, etc.). You can do something as simple as put a For Sale sign in the window, advertise in your local paper, on Craigs Lists and even on EBay if you choose.
You need to decide if the replacement cost of a vehicle will offset the cost of fuel for this vehicle. It can take as long as 5 years to recoup the additional expense particularly if you opt for one of the new Hybrid vehicles.
Gas is only going to get more expensive and since you have not reached the 100 thousand mile mark it could be a good time to change.
〉 Answered on Jul 1st, 2008 by Jessie L Thatcher, F&I and Sales Specialist at Reynolds and Reynolds Company (Retired)