Originally Posted by
CommuterRun
From a financial standpoint, getting rid of a new car just to unload it makes no sense at all. In the long run, you will be better off if you keep the car, pay it off as soon as you can, and continue driving it until the wheels fall off. By then you will know for sure if you want to be car free. You can be car light and still own a car. The depreciation hit you will take will be a complete waste of money with nothing to show.
One of the benefits and goals in living car free is to save money. If you take a big depreciation hit on getting rid of a nearly new car you're not doing that.
Now, if it's money you want to get rid of then yeah, trading in the car is a good idea. Or even better, keep the car, send the money to me and I will send you a nice fruit basket and card. Which is a better deal than you will get trading in a 3 month old car.
Agree here. The depreciation is sunk cost; you lose the money and the asset value if you sell or trade. I am with the folks who recommend keeping the car. If you want to be free of the debt, pay down the car ahead of schedule with the savings from reduced driving. Call your insurers and tell them of your move and see whether you can get a break on the insurance premium. And take some consolation in the choice of your car which is one that seems to hold value well for a long time.