If you’re heading on an adventure, without your car being the star people mover – then you should probably sell it.
We understand that all of us do become attached to our cars, both financially and emotionally, though there is a lot of expense attached to an unwarranted vehicle, especially if you’re heading on a long-term journey. Whether it be overseas, or in your backyard, there’s a good chance you don’t need your vehicle sitting at home, taking on the weather, and running up insurance and maintenance costs.
For those who need a little more convincing, or would like to learn a little more about why you should sell your car before traveling, continue reading below.
You’re Still Paying For It
For those who haven’t paid off their car’s loan in its entirety, you’re essentially paying for an asset that you’re not using or getting any value from. These costs will be a drag on your travels and can even cause you to overdraw your bank accounts, ultimately leaving you to head home early.
We suggest for these times, you work to sell your car at the best market rate on car sales websites, and with Grays, for example, you’ll be able to find buyers quite quickly, and then pay off the difference with your loan if there is one.
In doing this, you’re able to cut your loan repayments to zero, or close to zero and you’re essentially freeing up more cash to spend on your travels!
Cars Are an Expense Just Owning Them
Although you may be tens of thousands of miles from your car, they still cost quite a lot to own and though you’re not pouring fuel into the tank, there is still a range of expenses that will build up.
Not only do you have your insurance payments, maintenance fees, and loan repayments, you’re also going to need to handle things such as servicing, oil, and more once you return from your holiday. And add the fact that if your vehicle is simply sitting unused in your garage, oil and other liquids can become corrosive over time – leaving you with a potentially damaged vehicle.
With that in mind, this is another clear reason to sell your car before you head off on your travels, or even lease it out before you head off. This way, you’ll know that your car is getting used while you’re away.
You May No Longer Need One
After a long, well-deserved holiday many of us return with a new outlook on life and no longer wish to continue with the day-to-day routine we left behind.
With that in mind, you might find that you no longer need or want the vehicle you left behind, which means you have to work on selling the car once you return. If you do believe you’re heading out on a refresher holiday to get your mind working on a new career trajectory or life path, then your vehicle might be a hindrance to this once you return.
With that being said, letting go of possessions that tie you to your previous workflow might be a good mental relief for you, giving you the power to better relax on your holiday abroad. And besides, there’s a good chance you’ll be relying on public transport in most locations, rather than your car.
You Might Buy a Better Car When You Return
If you’re letting go of your vehicle before a long-term travel journey, you have the chance to use the money earned from your car sale for one of two things – your travels or a new car upon arrival.
For those of our readers who have a tired old vehicle that doesn’t have too much time left, then handing it off on a reseller website might be the best idea for you. Following this, you’ll be able to invest in a brand-new car once you return home, letting you start fresh after your big holiday.
There’s nothing better than that new car smell, and with a fresh mind and a new car, you’ll be on the way to bigger and better things at work and home.
Car’s Depreciate in Value
One final point to keep in mind is that vehicles depreciate quite quickly, and if you’re not using your car for a long while on your trip, you are essentially letting it sit and lose money for no good reason.
You’ll be able to get more for your car the sooner you sell it, and if you’re planning on going on a year-long trip abroad or around the country, then it’s in your best interest to sell it a lot sooner rather than later. This way you’re getting more for your vehicle, which can be used either on the trip, or to invest in savings before you buy a new one.
Just be sure to spruce up your vehicle and get it ready for sale beforehand, so you can be sure that you’ll be able to sell quickly before your trip and not let the process drag out too long.
With all of our points above, we’re confident that it’s clear to see why you should sell your car before traveling and how to make the most of your added cash from the vehicle sale. Just be sure to make your mind up before you leave, and don’t wait too long.
You don’t want your vehicle’s sale to affect your travels or your return home!