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Is It Time to Sell Your Car?

By maigne on July 10th, 2017

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A car, if you’ve managed to purchase your own, is a prized possession. Not only does it bring massive amounts of convenience the driver and its passengers, but for many it’s a testament to how hard and smart they’ve worked. Owning a car like a Toyota Wigo from the Philippines can help make your life a lot easier. Just think of the places you can go, the things you can do, and the memories you’ll make with the people you take with you for a ride!

However, there comes a time where one needs to make a decision about their beloved vehicle: whether it’s time to sell it or not. There can be a number of factors as to why one would need to make such a decision, such as wanting to replace it with something different, needing the extra cash, or finding that you don’t use it as much as you thought you would. When really is the right time to sell your car?

Parting with your car can be a difficult decision to make as it requires careful planning and utmost consideration. If ever you find yourself struggling with this decision, here are some things that can help you answer the question presented:

 

Monetary Value

Yes, cars are useful. Yes, they cost a lot. But as with most material things, its monetary value naturally decreases over time. Unless you’ve made some really good modifications and have taken very good car of the vehicle, it’s highly unlikely you can sell it at the same price you got it for. You’re also likely to shell out some money to prepare your car for re-selling before you can put it out in the market. Sometimes you get more value out of keeping an old car than selling it, especially if you need to use it often.

Sentimental Value

Not everyone gets attached to items they own, but a car is often a different story. Taking its sentimental value is something that you should take into consideration, but should never be the main deciding factor. Ultimately, that’s up to you though.

Time Value

Your car may have been the one of the most sought-out trends when you bought it. It may have had the latest gizmos, gadgets, and other features that made it look like it stood above all cars – at the time. But sadly, like all other things, time changes things such as the relevance of your car. This is why it’s usually better to stick to timeless cars.

Another thing about the passage of time is that it’s not really just the outside of your car that’s affected, but the inside as well. As time passes, certain parts of your car would have to be replaced, which can be a detriment to your financial capabilities. Car maintenance is not a one-time thing – you’ll need to constantly keep it in tip-top shape lest time and wear gets the best of it.

Parting with your car can be difficult when the time comes, especially with the amount of care you have given it and the hard work you had to do in order to get it. But, no matter what your heart tells you, recognize when it’s really time to get rid of the car before it’s too late and it loses its value.

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