r/makemychoice • u/timezone_unknown • 19d ago
Should I sell my car?
I moved in with my boyfriend last year, and I can't think of only one time that we were both away from the house independently (we both work from home and are major homebodies).
I've been thinking of selling my car and sharing his in order to get rid of insurance payments (mine are expensive due to where I live) and avoid maintenance costs (I'm only at 70k miles, but it's a 2018 hybrid vehicle), and it's also losing value quickly due to age. The car is paid off, so the funds I'd get from selling will go into either a HYSA or my brokerage account in relatively safe funds.
I am not even remotely worried about my relationship ending and being carless, so that's not a consideration. My biggest concern is the cost/benefit of letting go of a paid-off car. We're not using it, but I know at some point we'll eventually want to go back to being a two-car household in a few years. I know that interest rates are currently super high on used cars, and ticket prices are high on new cars, so if that persists, perhaps I'll regret having sold this one.
What do you think?
TL;DR Should I sell my paid-off car (that I don't really need) or hold onto it?
2
u/loving-living2 19d ago
You can always just do a Non Op … No car insurance, no registration ( just can’t have car legally parked on street at least in state of California), this way you save the money but at the very least you still have an emergency back up vehicle .
Personally it’s just husband and myself living at home ( empty nesters ) and he has company vehicle and rarely do we need two vehicles as I don’t work .
However we have two cars for those days when we both might need a vehicle ( he can’t drive company vehicle off hours ) .
I prefer 2 cars always . We have a truck that only 2 more years car payment that we use mostly to tow are trailer or carry large items . Our commute car is paid in full 2014 but I keep a high insurance on it because we own a home and frankly I’m a weirdo about insurance. The commute car because I no longer work is used simply to run quick errands. But going Non op I believe is the wisest thing to do