Private Party Value $5,110
Trade-In Value $3,480
1999 Contour SE Good Condition, 69K miles
I owe 2k on it so at least I am not upside down on it.
I paid $9400 on it (2001) with 25K on it.
Drive it for business and recovered $13,140 in mileage cost ($0.365/mile)
I've paid about $2500 in gas, $2000 in Insurance and $1800 in Maint.
So 15700 Expense, 13140 in income = Car has cost me $2560 to own it for 2 years. If I sold it, I would have driven it for 2 years free.
Not a bad deal. Drive free for 2 years essentially.
However, I intend to keep driving it another 2 years. Mileage rate is now $0.38/mile. About 18000-20000 miles a year. Car will be paid off by April.
I will make money on the deal. In the $1500 - $2500 range.
Get paid to drive for 4 years - Even better deal.
I've done this twice already. With an 96 escort and before that, an 89 Toyota Pickup.
FRiends at work ask why I don't take a company car @ $130/month cost. (Taurus w/ Vulcan right now is Co. Car) and I say I prefer to make money rather than pay, and I prefer the cars I use rather than the generic leased cars the Company provides.
