1. You’re Forced to Choose Between Mortgage Payments and Car Payments Every Month
If your car is too expensive for you, you should probably think about selling it. Many people are overextended, paying out more for car payments than they can afford each month. A huge contributor Vintage cars to this phenomenon: car loan and lease payments which are just too expensive. If you can’t easily afford your car, you should look into selling your current car, and getting a car you can more easily afford.
2. You Really Hate Your Car
Why stay in an unhappy car relationship? If you hate your car, you should get rid of it! Don’t keep something you despise. You could replace your current car with a car you truly adore.
3. Your Car Insurance Company Treats You Like You Drive a Race Car
Are your car insurance premiums through the roof? Does your insurance company send you bills that make you feel like you must be insuring a race car? If your car is guilty of crazy-high insurance rates, you may think about selling it. You could probably get a better car with lower insurance premiums.
4. You Don’t Even Need a Car
In this economy, it probably doesn’t make much sense to keep a car – and the payments that go with it – if you don’t really need it. Many people, especially city dwellers, rarely use their cars. If you’re one of these people, you might want to sell your car.
*If you live in the NYC/Tri-State area and you want to sell your car, be sure to read my How to sell my car fast in NYC? Article, where we look at ways to, you guessed it, quickly sell a car in NYC.
5. You’re Getting a New Car
Getting a new car often means selling your old car. If you’re in the market for a new car, or if you already bought one, it’s probably a good time to sell your current ride.
6. You Lost Your Drivers License
People get their licenses revoked for a multitude of reasons. No matter what you did wrong to lose your license, you may want to consider selling your car. This is especially true if you won’t have a driver’s license for several months or longer. Why keep a car you can’t drive? Why keep paying for car insurance if you’re not going to use your car for a while. Losing your drivers license is often a good reason to sell your car.
7. Your Car is in the Shop More Than It’s on the Road
This week it’s the muffler, last week it was the water pump. Does it seem like something is always breaking on your car? If your car is constantly breaking down, it might be time to sell. Think about how much money you’ve spent in car repairs. Do the costs of keeping your car feel like they outweigh the benefits? If your answer is yes, sell, sell, sell your car!
8. You Need a More *insert reason here* Car
If you just had a child and you have a two seat sports car, it’s time to sell your car. If you just sent your kids off to college and you still have the mini-van, it might be time to sell your car. Whether you need something more, sporty, spacious, efficient, roomy or anything else, you can sell your current car and buy a new car that better suits your needs.
9. You’re in the NYC / Tri-State Area