Hey folks I would like you fine people to share your thoughts on this - I live in Calgary AB and I have a 335i 2012 F30 BMW that I have kept and maintained meticulously over the years. Currently sitting at 144,000km / 89k miles. Car is paid off for a few years now and haven't given me any headaches so far, I have the tools at home to maintain the engine and the computers attached to it (reprogram, code it etc.). However, the used car prices are dropping with big discounts being given every month, prices are not yet where they should be but it also means my car is also devaluating fast and in a year or so it wont be worth a dime. Right now private selling is tough, not many people with cash on hands and trade in price is around 10k. the idea is to get something comfortable, 2019 and newer, that IF needed (job loss) I could drive for Uber/Lyft to get by and that has a lower mileage (potentially some warranty left). My fiancé and I are moving together next year (she is coming from another country) and it might take a while before she can get a full time job (therefore I will have to hold the household income hence why I want to make sure I have alternative income streams if needed) + we will need to get her a car to get around and to increase the odds of finding a job (Calgary is big and some jobs required a vehicle plus the public transit has had a lot of stabbings lately and I wouldn't want her in an unsafe environment like that).

Now, most of 2019 and up cars with low mileage are on the 25-30k range which means I would have to carry a loan for 3-4 years + whatever the second car will cost, so moving from $0 car payment to potentially a 700-800 month altogether. Financing a car for her is a temporary problem as as soon as she gets a job she will take over it, it will be a household debt nonetheless and adding a second car will increase the expenses but also give me the chance to add another income source while reducing my insurance costs (who would've thought that old imports have expensive insurance eh).

So it comes down to this: Should I keep an old car that has been reliable where  have the tools and knowledge to fix with no car payments OR get partially finance something newer with lower mileage where I could make some money in a pinch, knowing that in Jan 2024 I will have to finance a car with my fiancé anyways.

Potential candidates are Mazda 3, Fusion Hybrid, Honda (base model), corolla (base model).