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Thread: Should I sell it or keep it?

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    Default Should I sell it or keep it?

    I'm in a dilemma!

    I own a 2010 Mazda 3 2.5 sport that I just recently paid off, and I'm leaving on a trip with a few buddies for almost a year, my friends are telling me to sell the car and keep the money, but I wanna ask what you guys would do first, as M3 owners. I love the car and It's been a great 4 years and my original plan was to keep it at least 5 ot 6 years..
    Since I'm leaving for a year, My father would drive it a few times a week and do the oil changes and everything to keep it in order, but that also means I would have to keep it plated and pay the insurance on the car and the car will loose value while not being driven that much.
    So what would you guys do knowing that I could probably sell it for what, 12 000 $ right now?
    Would you keep it or sell it?

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    Default Re: Should I sell it or keep it?

    I'd probably sell it and get a new one when I'm back. Especially if you can part it out.

    Although I may be bias after seeing the FRS so much.
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    Member leecheefoto's Avatar
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    Default Re: Should I sell it or keep it?

    So you want to keep it for another 5/6 years, but you're leaving for just a year which is the reason why you should sell it?
    Just cancel insurance or have your dad pay for the insurance and keep the car. Why would the car lose value if it's not being driven much? Your dad would drive it a few times a week which could be less than average km travelled.
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    Default Re: Should I sell it or keep it?

    I would keep it... Your going to take a huge hit on it... If its paid for then keep it
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    bitch flakes....yummy greyseason's Avatar
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    Default Re: Should I sell it or keep it?

    i think he planned on originally keeping it 5-6 years. Id say keep it and let your dad drive it for the year you're gone, unless there's a car you've had your eye on, in that case id sell now, and buy a newer car once you're back
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    Default Re: Should I sell it or keep it?

    Quote Originally Posted by leecheefoto View Post
    So you want to keep it for another 5/6 years, but you're leaving for just a year which is the reason why you should sell it?
    Just cancel insurance or have your dad pay for the insurance and keep the car. Why would the car lose value if it's not being driven much? Your dad would drive it a few times a week which could be less than average km travelled.
    Because a car's value goes down as it ages. It might lose value just because it's a year older, it might develop rust somewhere etc etc. There's a lot of factors to consider since you're not in possession of it.

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    Sr Member Noisy Crow's Avatar
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    Default Re: Should I sell it or keep it?

    You want to keep the insurance.... if you drop it for a year you will find your "years of continuous insurance" will reset, which very well may lead to an increase in premiums.

    As well depreciation should really not factor into the decision... IMHO cars should be kept and driven until the cost of repairs exceeds the cost of replacing the vehicle.
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    Sr Member peterm15's Avatar
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    Default Re: Should I sell it or keep it?

    Transfer the car to your fathers name. ( no taxes need to be paid)
    Have him insure and plate it.
    When your back. Transfer it back.

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    Default Re: Should I sell it or keep it?

    I would keep it. When you come back from your trip aren't you going to want a car? What would you do then? Buy a used car for probably around the same amount you sold this car for? Since you bought this car new you'd probably be more comfortable with your same old car and you know the history of your car.
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    Jr Member Chrisinski's Avatar
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    Default Re: Should I sell it or keep it?

    Its paid for keep it. Do not stop your insurance or else thats a strike on you. Maybe ask your dad if hes willing to pay half of insurance and license fees? You sell you loose. You could still get your 12,000 after Year if it has low clicks np. If you want to sell wait until you get back so your not rushed on the price you want and you dont accidentally spend all that extra dough on crap ya dont need while traveling.
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    Default Re: Should I sell it or keep it?

    Just to comment on the insurance thing..After over 4 years of not being insured because I've had a company vehicle (Insured as a Fleet, so didn't count on my record) My insurance is only $136 a month for full coverage (Belaire direct). They were able to offer me that price because I had over 1 year of constant insurance history in the last 10 years. I'm 27 and have 1 speeding ticket on my record, no (at fault) accidents. So I wouldn't worry about insurance too much.

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    Default Re: Should I sell it or keep it?

    Don't be an idiot, keep it. It'll still be plenty useable when you get back.

    Get it rust proofed, wash it, remove the battery, and add fuel stabilizer. Oil change when your back
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    Default Re: Should I sell it or keep it?

    I have to agree with Noisy Crow on this one. Keep your insurance valid, even if you drop the collision you are still considered currently insured. A lot of people have found to their cost that after cancelling their policy for a period of time, when it came time to get insurance again there was a hefty jump in premiums.
    As for the question of keeping the car I would say keep it, it's paid off you like the car and had originally intended keeping it for six years.

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    Default Re: Should I sell it or keep it?

    Is it possible to stop insurance payments on the car for a year and store it somewhere?

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    Default Re: Should I sell it or keep it?

    Quote Originally Posted by Jackal View Post
    Is it possible to stop insurance payments on the car for a year and store it somewhere?
    Keep theft and fire minimum. 1 bad day is all it takes to lose out on serious money spent

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    Armchair Detailer Jackal's Avatar
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    Default Re: Should I sell it or keep it?

    Quote Originally Posted by captobvious75 View Post
    Keep theft and fire minimum. 1 bad day is all it takes to lose out on serious money spent
    Yes. My friend does this with her Supra. She only drives it 2 months of the year.

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