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Going away: Sell or keep???

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  • 21-04-2008 3:56pm
    #1
    j14
    Registered Users Posts: 829 ✭✭✭


    Just wondering what you guys would think I'm better off doing.

    I don't understand much about depreciation or stuff like that so I'll see what you say.

    My story is:

    Bought a brand new Honda Civic Type S 1.8 petrol this time last year.
    The oppertunity has arisen that I will be able to travel for a year and I'm going in October.

    Would I be better off selling the car (which I love) before I go and paying off the bank about €11,000 plus early payment fees.

    or

    holding onto it for when I get home, storage will be free whilst I'm away for the year. If I do this I will owe €11,000 (interest free) on it when I get back

    The car has 22,000 km on it already as I do drive it a fair bit. The way I look at it the car will have 2 years driving on it before I go. The car will not be driven whilst I'm away so in theory it will "catching up with the milage" on it.

    What do you guys think?

    Sell or keep? I'm swaying towards keep.

    Jay.


Comments

  • Options
    #2
    fallon54
    Closed Accounts Posts: 79 ✭✭fallon54


    Jay, keep it you mad egg!!


  • Options
    #3
    bazz26
    Registered Users Posts: 51,243 ✭✭✭✭bazz26


    Let a friend or relative insure and drive it for the year, at least that way the car will get some use. Leaving a car undriven for 12 months might not be good for the car itself I'd imagine.


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    #4
    j14
    Registered Users Posts: 829 ✭✭✭j14


    I wouldn't let anybody drive my car for the year as I'd hate to think what they'd do to it! I could get somebody to drive it for a day or two every month just to keep it ticking over. The car will be stored in a warehouse which my family all have access to so there is no problem with somebody taking it for a day or two, preferably my mother as she doesn't do much over the speed limit anyway!


  • Options
    #5
    L-M
    Registered Users Posts: 23,694 ✭✭✭✭L-M


    Try sell it for two weeks, if some1s buys, then great. I would tell u to keep it if it wasn't such a new car that's going through it's modes of big depreciation. Keeping it, i can't imagine it would be any benifit (money-wise) to u. Although it would save u time when u come back to look for a car. I'd try sell it, what's the harm.


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