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Knowing When to Let Go of a Vehicle Is Hard, This Is Why You Should Do It

Car ownership is a complicated affair, as it involves money, depreciation, your needs, and other people. It is more adventurous than being a homeowner, that is for sure. With that in mind, there are times when you should consider letting go of your car.
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Selling your vehicle is never easy, especially if emotions are involved. If you own a vehicle for long enough, it will "grow" on you, and it will be difficult for you to let it go, even if you do not use it anymore.

With that being written, in most cases, if you no longer use a vehicle for extended periods of time, and it sits outside for months or even years, you should sell it. Here is why.

We have all seen videos and photos of barn finds, right? Well, those barn finds rarely happen because someone finally decided to sell their vehicle. Instead, many happen when a person dies, and their family has to sell their possessions because they are no longer used by the family.

A vehicle that has been sitting under a tarp in a backyard may be worth a couple of hundred dollars or a couple of thousand dollars, but few are worth more than that.

Avoid holding on to a vehicle just because you liked it years ago, despite the fact that you have not driven it in years. If you really love that vehicle, sell it at a reasonable price to someone who is willing and able to make it run properly and who will keep it intact for years to come. If you truly love that car, but you cannot afford to fix it, we would suggest doing that instead of watching it rust away in the open.

This article was inspired by a piece of news I wrote yesterday, which involved someone “forgetting” about a Porsche 928 in their driveway. While I do not know their personal reasons for the "forgetting" part, I do know that it was a waste of a vehicle to watch its tires deflate and watch it get dirtier and dirtier as the days went by.

The vehicle will be saved by its new owners, but, as the storyteller noted, it took months of negotiations for the deal to happen. The latter is the reason for this article, but it is not the first time we have seen this.

Whatever you do with your vehicles, avoid dragging someone through a long negotiation or with an incredibly high asking price just because the car "ran when parked," while you claim to have forgotten you parked it there years ago. Just let it go, sell it for a reasonable price, and move on.

From personal experience, I can say that it is difficult to let go of a vehicle, especially if it means something to you. However, watching it get destroyed by the elements slowly, but surely, is a waste of your money, that vehicle, and the work you once had to do to be able to afford it.

If you get an offer on your vehicle, consider selling it. You do not have to say yes or no on the spot, naturally, but at least consider it. Be honest with yourself about what it would cost to make it drive as it should, and look as good as it could. Is it close to that ideal scenario? Not really? Ask a friend who has seen it, just to be sure.

Is the vehicle perfect? Well, why aren't you using it, then? If it only gets used every once in a while, store it somewhere safe, where it is protected from the elements. If months or even years have passed since you last drove it, it needs to be sold.

This is not an investment; you are wasting money, and a vehicle is rotting away into the ground. Open your eyes and get a reality check. Again, ask a good friend to be honest with you and do not get mad if you do not like what you hear.

Check online listings to see how much a vehicle like yours costs, but remember that the asking price may not be the same as the selling price. If your vehicle does not drive or does not even start, you need to lower your expectations and adjust your asking price accordingly. It is hard, we know, but it will only get worse when resale value is concerned.

Few people go and buy vehicles that do not run and then throw money at them to restore them to a proper running condition. If you have someone interested in buying your defective or non-running vehicle, do not hold on to it if you know you are a serial procrastinator with no money set aside for repairs.

Be honest with yourself. It will save you time, money, and heartache. In many countries, car taxes must be paid even if the vehicle does not run, so it will cost you money to hold onto it and never use that vehicle.

Lose the "I know what I have" attitude, as that will never take you anywhere. If your vehicle was that valuable, you might have gone ahead and fixed it yourself. Oh, by the way, every rubber bit on your car is probably ruined if it is over five or six years old. Can you afford to change it? Well, consider selling the vehicle as it is because its condition will not be improved.

I have seen this firsthand, and many vehicles that could have been saved from being parted out have ended up being sent to the crusher because someone could not let them go. So, know when to let go of a car or a motorcycle before it is too late for it.

Editor's note: For illustration purposes, the photo gallery shows various images of barn finds.

 
 
 
 
 

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