Should I sell my car or keep it in stasis for ten months?
November 3, 2010 8:17 PM Subscribe
Should I keep my car with me and pay insurance for nearly a year of non-use, lease it, or sell it and hope to buy another one afterward?
posted by ramenopres to Travel & Transportation (10 answers total) 1 user marked this as a favorite
I'm entering a program where I will be housed, fed, transported, etc for ten months. I love my car dearly but will have to do something with it during that time. My income will be very low. Can you walk me through the pros and cons and likelihoods of success for my options?
1. Drive it to the location of my ten-month stint, park it in the lot, enjoy the occasional use of it, and start to pay insurance on it? Vehicles will be available for routine tasks, so I will not really need the car.
2. Put the word out or post an ad to craigslist offering some trustworthy person the use of my car, for a fee, for the ten months. Insurance presumably still paid by me. Is that even allowed?
3. Sell it. I would get little money (a couple thousand) because of some cosmetic problems. However, this car will probably last at least another 100,000 miles. Keeping it would be the best way to get value from it. Also, it's an amazing vehicle and I don't think I would be as happy with another one that I could get for my budget.
Keeping it in a warm garage where some kind person will periodically start it or drive it around a little, and not paying insurance on it, would be ideal. Is there such a thing?
I need to decide quickly in order to set up travel arrangements to the location of my program.