Is it Time to Sell Your Car?

For some, the decision to part with their car can be difficult. Especially if you generally enjoy the ride. But not every car is suited for every person and you may find after careful evaluation that selling your car is the best decision for your current situation. Here are a few questions you can ask yourself to see if your car's time is up.

Can you afford it?

When you consider the monthly payments, car insurance, and gas, how much are you paying for your car each month? Does it fit within your budget? If you find you're stretching yourself too thin because of your vehicle, it may be time to sell it opt for a car that you can afford. 

Does your mechanic know you too well?

If you're going to the mechanic's shop three or more times a year for anything other than oil changes, there's something wrong with your car. Really, you shouldn't need to have maintenance performed on it that often. This is a significant sign that you vehicle isn't healthy and may very well cost you more than it's worth in repairs. While the car is running as it should, consider selling it to invest in a vehicle that won't require so much maintenance. If you are bringing your car in for repairs often, you may need to sell it quickly, so keep that in mind.

Is it even the right car for you?

Sure, a truck might look cool, but is it practical in the city? And a sports car sure goes fast, but it's not all that useful in the suburbs. It's important to reevaluate your car every so often to make sure it's still fulfilling your life requirements. If it's too big, small, or otherwise ill suited for your lifestyle, it might just be time to put it up for sale. 

Is the car about to keel over?

While a few minor repairs here and there are to be expected with any car, be mindful of the warning signs of a significant issue, specifically those involving the engine or transmission. Repairing or replacing either of these things is incredibly expensive. So, unless you just bought your car, it's likely you'd save money by selling your vehicle. Engine trouble can be identified by blue smoke coming out of the tailpipe. This means oil is burning. If your car is an automatic, slipping gears can also be a problem and indicative of a transmission issue. 

Essentially you have to weigh cost versus value. If you're dumping more money into your car than it's worth, it might be time to sell it and pick up a new vehicle. 

 

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