Which car should I keep - 05 Camery (45K) or 01 Corrolla (80K)?

From a financial perspective, I'm hoping to justify the camery but don't think I can based only on the price difference of $7,500 and a miles delta of 35 K.

Which car will save me money in the long run?

My Location: Gilbert Arizona

05 Camery LE_____________________01 Corrolla
45 K mi__________________________80 K mi
Tint_____________________________no tint
Great AC_________________________OK Ac
Excellent condition______________Good Condition
Color: Tan_______________________Color: White
Automatic Trans__________________Automatic Trans
All power(incl. seat)____________Some power(not seat,mirr,entry)
Bought $13,300___________________Bought $5,800
KBB(Private/Excellent): $14,510__KBB(Private/Good): $7,160
Insure: $350_____________________Insure: $250
Gas/year: $2,400_________________Gas/year: $2,000
Registration: $210_______________Registration: $80

http://autos.msn.com/research/vip/reliability.aspx?year=2005&make=Toyota&model=Camry

http://autos.msn.com/research/vip/reliability.aspx?year=2001&make=Toyota&model=Corolla

http://autos.msn.com/research/compare/default.aspx?c=0&n=3&i=0&ph1=t0&ph2=t0&tb=0&dt=0&v=t99557&v=t92687

http://www.kbb.com/KBB/UsedCars/PricingReport.aspx?YearId=2005&Mileage=45000&VehicleClass=UsedCar&ManufacturerId=49&ModelId=286&PriceType=Private+Party&VehicleId=1667&SelectionHistory=1667%7c28513%7c85296%7c0%7c0%7c64 389%7ctrue&Condition=Excellent&QuizConditions=

http://www.kbb.com/KBB/UsedCars/PricingReport.aspx?YearId=2001&Mileage=80000&VehicleClass=UsedCar&ManufacturerId=49&ModelId=290&PriceType=Private+Party&VehicleId=5151&SelectionHistory=5151%7c28513%7c85296%7c0%7c0%7c19 7539%7ctrue%7c197551%7ctrue%7c197553%7ctrue%7c1975 57%7ctrue%7c197563%7ctrue%7c197573%7ctrue%7c197553 %7cfalse%7c197553%7ctrue&Condition=Good&QuizConditions=

Thanks in advance,

Rich

If I had to choose I'd keep the Camry, simply because it's newer, less miles and in better condition. You don't mention the engine in the Cam (I presume the 4-cyl looking at the fuel bill...fairly equal).

Financially, the Corolla will be less out-of-pocket day to day, but being older it will be needing more high-cost maintenance eventually and sooner than the Cam. Conversely, the Cam is newer, thus more complicated and when it needs maintenance, the costs will be somewhat higher. You've got more equity in the Cam too with its higher book value. Both will hold value well, especially now that fuel sippers are in high demand.

I'd sell the Corolla, pay down/off the Cam & start socking $$$ away. I'm sure there are many who'd like to be in your predicament. But if you're on a tight budget, you can certainly get away with dropping the Cam & socking away the profits for upkeep of the Corolla.

Hate to sound wishy-washy but both cars will be very reliable. And if the engines are similar, the long-term maintanence issues will be more or less the same as well. Hope this helps!

Thanks, jdmccright, that's good advice. I'll do what you say and keep the camry.

Sincerely,

Rich