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Should I sell my car?
I have a 2002 Saturn LS with 120k miles on it. I bought it 3 years ago and it no longer has a lien. My boyfriend's parents just gave him an extremely reliable (but older) car and with the upcoming enforcement of mandatory auto insurance laws in our state, I'm not sure we can afford to insure two cars. I don't work, so having a second car would just be a luxury and a fail safe, basically.
I was considering giving it to my daughter when she goes off to college in a couple of years, but I have doubts about how well she would take care of it.
I am also concerned that I won't be able to get a decent price for it. My sister's boyfriend said he might be able to sell it for around $1800-2200, but we don't know for sure. I basically just want to unload it before the transmission goes out or some other expensive thing goes wrong.
Should I just keep it or what?
To be honest, neither of our cars are insured at the moment because we just can't afford it. Even liability x2 would be a problem.
And I'm kinda looking to avoid any problems. I'm basically just looking to sell it while it's still worth something. With a bad transmission (or worse) I'd be lucky to get a few hundred dollars.
5 Answers
- 1 decade agoFavorite Answer
If you're not have any problems whatsoever with the car, then keep it. It's better than paying $300/month for 5/6 years for a new/used cars. Never hurt to have a backup. You don't necessarily have to have full coverage on both vehicles. Just get liability for the Saturn and full coverage for the other car. Since the other is older, you may as well get Liability for both, but drive carefully and safely.
- 1 decade ago
Check with your insurance company, many give discounts for multiple vehicles. If you won't get much for it then, saving it for your daughter would be pretty smart. Maybe even arrange for her to make some payments to "purchase" the car from you that will help pay for the insurance.
I remember my 2000 Saturn. They are nice cars.
- greatinvestideasLv 41 decade ago
sell it. However, you are not going to get 2000 There are lots of other cars with less miles and better shape for that price. Think 1500.
- 1 decade ago
Check the insurance rate for it first with multiple discounts. It shouldn't be that high at all.
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