I am considering selling my Volvo. I drive it perhaps two or three times a week because I ride my bike to school. Melissa has a fine automobile that she would let me use. My car is a 1997 model (it was actually sold in 1996) 850 T5 Vovlo wagon with every premium package except for the 'winter' and multidisc CD changer packages. Kelly Blue Book says I can sell it for between $4000 and $5000. I encourage you to tell me what do to in the comments. Here's what I've got so far:
Do I sell my car?
Yes, sell it:
No, keep it:
I hardly drive my car, but I have to pay car insurance all the time. Also, I need to register it by January ($100) and get it smogged ($30?).
It's twelve years old and things are breaking: the key fob; the odometer; the backlight on the radio display; the driver-side seat is ripped. Who knows what's next? It's likely going to be something I can't just live without.
Melissa's car is nearly a decade newer, more fuel efficient and almost as spacious.
$4000+ in my pocket is nice.
Until I graduate, I don't picture myself needing a car except on the weekends. And when I graduate, my new job will pay more, so if I need to commute, I will be able to afford a car more easily.
If I sell my car, I'll split the car insurance costs with Melissa on her car which will save both of us money.
If I am going to own any car, this is just about the perfect car for me. I really like it. It's spacious enough, but not too big. It's got a killer roof rack system that would be hard to do on another car.
It's safer than Melissa's car, primarily because it's heavier (gotta love Volvos!).
I already own the car fully, so the only recurrent costs are insurance and fuel. I could call up my insurance agent and get much lower coverage, especially collision coverage.