When to sell your car
Shopping for a new car can be an exciting time in your life, whether it’s your first set of wheels or just another automobile to call your own. It’s a chance to augment your personality, not to mention play with a brand new big-boy toy for several years, even making your day to day commute more enjoyable. On the other hand, whenever a new car is purchased, it most likely means the end of an era for another family vehicle. As humans naturally develop attachment for inanimate objects, especially those we interact with heavily on a everyday basis, it can be particularly hard to part ways with a car. Sometimes sentimental attachment clouds judgment as to when is the smart, savvy time to move on to the next car before you are left with a clunker that has little to know resale value. So, when’s the right time to sell your car? Here are some questions to honestly ask yourself.How Much Money Do I Spend on This Car? Old cars are money pits, particularly discontinued models with parts no longer in production or foreign models with expensive parts that require shipping from overseas. Take a realistic assessment of exactly how much you are pouring into your car on a monthly/annual basis. In some cases, such expenses could add up to more than a car payment on a new vehicle, not to mention the new vehicle is likely to hold up much longer over time. Don’t treat your old car like a beloved old relative, keeping it on life support for as long as possible by paying whatever the cost to keep it running. Unlike Nana, an ancient automobile threatens the safety of its owners, if it breaks down its places you in a precarious, vulnerable situation.Is this car still practical? Life changes, kids happen, whether planned or unplanned they greatly affect your needs and budget. You would think any car that can survive 5 years of college can surely stand up to day care, but you’d be surprised the added burden such a small human can place on such a large hunk of metal. Not to mention, you will most likely want to splurge on something a little more safe, as you no longer have just you to protect on the road. If you think you’re going to keep the sports car while your significant other opts for a minivan then you might as well go ahead and keep the Ferrari, because single people can pretty much drive whatever they want.Can I afford to keep this car? Sometimes selling a car isn’t an upgrade at all, rather a downgrade. Perhaps your economic situation has changed over the past few months and you can no longer affort to pump premium fuel into your car. At that point it might be right to make the switched to something used with better fuel efficiency.Will this make me happy? While it is best to remain practical in any purchase or sale decision, if parting ways with your car is going to absolutely break your heart and leave you inconsolable then perhaps its best to wait until it breaks down. After all, money can’t buy happiness.