I have an 06 Hyundai Sonata in excellent condition and I'm in my senior year in college. I don't "need" a car right now because I'm not gonna have a job for the rest of the school year, but I'm going to start working again (or at least start looking for a full time job) as soon as I graduate in june, and I will most likely need a car again then. Would it be smart to sell my car now and think about getting another one in June, just to save insurance money which is kinda high? or Should I just hold on to it for the next few months and avoid the hastle of looking for a new car after I graduate...What would you do if you were in my shoes?
P.S. It is very likely that I relocate to another state after I graduate, I live in Ohio and I could find a job in Oregon for example so I'd have to sell my car anyway...Sorry for the long details and thanks for any imput...Merry Christmas to you all!
2007-12-24 23:36:15 · 6 answers · asked by yelowcake 1 in Cars & Transportation ➔ Buying & Selling
Why would you have to sell your car if you moved to Oregon? The trailer for your car on a U-Haul will only be another couple hundred bucks for the trip.
Call your insurance company and see what you can work out. Chances are you can get very cheap insurance while the car is sitting. And make sure you start the car and let it run every couple of weeks to keep everything running properly.
Do NOT cancel the insurance if you do not have a garage to put the car in, or somewhere out of the way to put it. If you do decide to park it, make sure you cancel the registration before canceling the insurance to avoid fines from the DMV.
2007-12-25 13:32:25 · answer #1 · answered by Vegas Matt 7 · 2⤊ 0⤋
Well, nobody asked and you didn't say, but is this car fully paid off? If not you may owe more then the car's current value, which would be bad if sold now. Since you are only talking about a 6 month layoff I think you are best served by keeping the car, unless you just don't like the car. I'm sure the car will be of some use for weekend trips at least. Like others said perhaps putting the car in storage and reducing your insurance would help you save money in the short term. Also, if you were to move, wouldn't it be nice to have a car to help carry some of your belongings for your move? I say, put the car for sale on Craigslist and if you can get the amount that you want then cool, if not just hold onto it.
2007-12-26 10:46:54 · answer #2 · answered by beavanjb 7 · 1⤊ 0⤋
You can get special insurance for a car that you're not driving. All you have to do is call your insurance carrier and tell them what you want. It's cheap. Buying another car a few months down the road will be considerably more expensive than any insurance you may have to pay now.
2007-12-25 07:51:27 · answer #3 · answered by Anonymous · 4⤊ 0⤋
Don't sell. Park it in a garage, have the insuance company cancel all the insuance on it except for fire and theft. That's cheap. Looking for another car is a hastle and you may not find one as good as the one you now have. Just keep the old one. Good Luck!
2007-12-25 07:51:32 · answer #4 · answered by Brian B 1 · 2⤊ 0⤋
I would prefer to keep my car because you save money that way, unless if the car is way too old and stalls many times.
2007-12-27 15:23:50 · answer #5 · answered by Anonymous · 1⤊ 0⤋
Sell. Cash is better in case you have to move but if you need a car again cash won;t be an issue. Don't hold on to something that makes you lose money.
Good luck. ^_^
2007-12-25 07:41:42 · answer #6 · answered by Daisuke 6 · 0⤊ 2⤋