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Drop the car or keep it???

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Drop the car or keep it???

Old 05-20-09, 12:37 AM
  #1  
PotatoSlayer
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Drop the car or keep it???

My wife and I are purchasing a house right now.

It looks like the house is going to go through and we'll be homeowners within a month and I'm a little nervous about but I'll also be glad to get out of this apartment but there is another question right now that's puzzling me.

I'm trying to figure out what to do with my car...

Until we really started house searching the car pretty much sat for weeks on end. In fact, it was kind of a chore to make sure the car got driven (last summer the tires started going flat). The registration is coming up for renewal ($55.00) and the insurance is coming up ($125/6 months) So I'm looking at just over $300 to keep the car for another year.. but looking the the blue book value in the condition it's in it won't be worth $1000. So I'd be paying 30% of the car's worth just to keep it another year, and the thing sits more than anything else.

It leaks oil, the tires are going bald, the dashboard is burnt out, the radio doesn't work, shocks are worn, and overall it's pretty beat up. It will hit 193k miles soon as we've been using this car as we've looked at houses... but once we move it will sit...

So I'm considering a few options:

1) Keep the car, pay the insurance and registration, and just let it sit hardly getting driven but used as a backup car or in an emergency.

2) Try to sell it for at least a little bit of money.

3) Give to charity.

4) Put the car in the garage and don't renew the plates (I have six months after they expire to renew) and then drop the insurance. If it turns out I need the car, then I can register it and put the insurance back on. But to me, this also seems like a waste of space.

5) Trade car in on the cash for guzzlers program -- but I really don't want to buy a new car.

I'm kinda indecisive about this and those of you who know me know that I am able to get around sufficiently by bike and prefer it to the car and would rather not put anymore money into this thing nor do I want to buy another car. After all, we are buying a house right now so any extra money coming in or saved is going to make a difference.

Feedback, please?
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Old 05-20-09, 01:11 AM
  #2  
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I'd sell the beater.

I'd watch the classifieds until an awesome deal came up on a better used car and scoop it up, since time is on your side. You can watch for weeks if need be.

You will need a car at some time in your life; stuff breaks in houses where bike transportation won't cut it.

I'd store it non-registered in the garage.
Think of it as being prepared and paying the best price for that preparedness.
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Old 05-20-09, 01:34 AM
  #3  
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Wow, since the car is in that kind of shape, I say do the karma-friendly thing and donate it. Since it sits more than I thought it would when reading the title of your post, keeping it makes little sense.
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Old 05-20-09, 02:15 AM
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I should specify that my wife has a reliable car that I would have available to me as well, so we'd be cutting down to just one car.
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Old 05-20-09, 03:18 AM
  #5  
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sell it and buy another bike
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Old 05-20-09, 04:30 AM
  #6  
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I'd go to being a one car family. There's no real reason to have two cars if only one gets used. Given the state of the car, it is probably better to sell it to a junkyard so it can be parted out. Most charitable organizations would just end up doing the same thing, which isn't very fair to them financially. Giving them $300 or $1000 would be better than giving them the car.
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Old 05-20-09, 06:00 AM
  #7  
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You didn't say your wife has a car, move it on

Your auto, her auto.

If you know a needy family that could use the car you might just give it to them, I can't remember the last time I sold a car or truck...
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Old 05-20-09, 06:13 AM
  #8  
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Since it's a secondary car already just get rid of it however you feel. If and when you are needing to do house repairs, haul heavy/bulky materials, buy furniture etc, rent a truck or borrow one from someone. If you need to buy 2x4s or an armoire, is this car really going to be able to handle that? Besides those situations could come up like once a year. Not worth it to me to go through all that hassle and $$$ every year for a relatively rare scenario.
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Old 05-20-09, 08:58 AM
  #9  
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We've been a one-car family for years. It's not as hard as some might think (even in the pathetically car-centric Dallas area). Donate the car.

Congrats on becoming a home owner!
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Old 05-20-09, 09:21 AM
  #10  
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If the car never gets used and you have an alternative should you find you need a car... get rid of it however you see fit.
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Old 05-20-09, 09:37 AM
  #11  
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Internal combustion engines are going to be almost extinct in the next 5 years, so make your decision based on that. Don't ask me how I know that.
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Old 05-20-09, 09:39 AM
  #12  
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Keep it. At work.

I was very close to selling my car, then I got the call. My wife had just been in an accident. My car was at work (it stays there all week holding my clothes) so I hopped in and went to meet her at the scene. I can't imagine what it would have been like if I had to take the bus, wait on a cab, or pedal to the scene of the accident.
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Old 05-20-09, 10:59 AM
  #13  
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"It leaks oil, the tires are going bald, the dashboard is burnt out, the radio doesn't work, shocks are worn, and overall it's pretty beat up. It will hit 193k miles soon as we've been using this car as we've looked at houses... but once we move it will sit..."

Can you say "Money Pit" ? That's what you have with this car.

Cars stored long term need to be in good shape at the start and your vehicle is worn out before
you start.
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Old 05-20-09, 11:17 AM
  #14  
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Originally Posted by daven1986 View Post
sell it and buy another bike
+1.

Or a trailer for all those home improvement supplies...
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Old 05-20-09, 11:30 AM
  #15  
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Originally Posted by PotatoSlayer View Post
I should specify that my wife has a reliable car that I would have available to me as well, so we'd be cutting down to just one car.
Then dump that heap and don't buy another.
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Old 05-20-09, 02:36 PM
  #16  
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Nothing wrong with donating it to charity.
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Old 05-20-09, 03:03 PM
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I add a vote for charity donation! It isn't worth the hassle of placing an ad and dealing with the test drivers of a $1000 car, plus the whole Karma thing previously mentioned. You'll feel better after donating it than after taking money from some person struggling to buy a cheap car.
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Old 05-20-09, 03:31 PM
  #18  
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sounds like a clam - put a match to it !

Seriously - dump it for some cash, even a few hundred bucks is better than dragging it around - NEW HOME = many expenses -
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Old 05-20-09, 03:53 PM
  #19  
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Since you asked...

I'd hang onto it untill you have successfully moved into the new house (and a congrats on that!). Wait a little bit, then donate it.

You all will likely have all kinds of errands/short trips to run with the house. Better IMO for your collective stress levels to have 2 cars for a bit. --Moving can be very stressfull, don't compound your stress if possible.
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Old 05-20-09, 11:02 PM
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I'd sell it, but be honest about its condition with the potential buyer. Let them know about the leaks, radio, shocks, dash, etc... then cut them a deal. You may get a few hundred bucks in the end which you can put towards new bike stuff (like a bike trailer for hauling things that used to require a car).

As for selling the car, craigslist works pretty well. When my wife and I moved from the US to Europe 3 years ago, we sold our cars that way. Mine sold in 2 days for a few hundred dollars below my asking price. My wife sold hers in 12 hours for her asking price. If we weren't moving and had more time, I'm sure we could have sold them for more, but in the end, we got about 80% of KBB, and considering how little time and effort it took, we were happy with that.
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Old 05-21-09, 12:12 AM
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I mentioned I'm going to be selling my car at work tonight and already have two people interested... amazingly. I said I was asking $1000 but then said since I knew them I'd offer it to them for $800.. giving them a list of problems I know about and also a major repair history since I've owned it.

The one person has a teenage daughter who they're looking for a beater car for and the other just had the transmission go out in their husband's car... so they're looking for something inexpensive to get them by. Again, I am not hiding anything as far as the condition of the vehicle goes. These people know me and know that I've switched over to bike transportation...
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Old 05-21-09, 01:08 AM
  #22  
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+1 to get rid of it. I've been car free for many years now, it started like you described with the car essentially rotting in place because I used my bike instead. Except, I waited untill it no longer worked before getting rid of it. Can't say I've missed it, but especially since you have access to another one, then in my view the main question is should you hand it over to the guy with the blown transmission (my pick) or to the teenager who thinks they need a car.
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Old 05-21-09, 02:02 AM
  #23  
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Originally Posted by PotatoSlayer View Post
I should specify that my wife has a reliable car that I would have available to me as well, so we'd be cutting down to just one car.
well! In that case, GONE!

I am biased.
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Old 05-21-09, 05:11 AM
  #24  
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Originally Posted by PotatoSlayer View Post
I should specify that my wife has a reliable car that I would have available to me as well, so we'd be cutting down to just one car.
Well as long as you have one car to live in if times get tough, you're cool...sell the beater and buy another bike.
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Old 05-21-09, 05:30 AM
  #25  
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I am in the sell the car buy another bike camp, too. I sold my little 4x4 6 months to buy my current commuter.
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