Okay so, I 26F am thinking about selling my 2017 Mercedes.
I live downtown, and I work from home as of recent (I work for myself).
I typically only drive to go to workout (2x a week) get groceries (1x a week), run errands, like get my hair & nails done (1x a month) but everything is near each other and about 10 mins from me. So I could get my nails done and walk 2-5 mins and be at my grocery store or workout class.
I was offered $22,000 for my 2017 Mercedes GLA, and I owe about $15,000. I bought it used in 2019 for about $24/25k.
Well my car insurance jumped up from about $850/875 to $1250 ish for a 6 month premium. About a $375-$400 difference every 6 months. I’ve had zero accidents or incidents with my car since I’ve had my insurance. Nor any tickets. I really don’t drive much and half of my errands are just “to go look” at stuff like new stuff at Target, etc.
When I called my insurance to ask why it jumped they told me the cost of repairs and medical bills are so high, that they had to raise my rate to meet the costs..
I tried shopping around, but couldn’t find anything significantly cheaper while still keeping the same-ish (full) coverage. All of the quotes I got are so much higher than I’ve ever paid before. I have Geico right now btw.
If I sell my car for the $22,000 (Carvana). Carmax offered me $20,000. I will be able to pay off my car and come out positive $7,000 and I’ll save about $615 a month with no car payment or insurance. Plus a bit more with gas (not much since I don’t drive that often).
I’m thinking I could just Uber to workout 2x a week or go to one of the group fitness classes near me (that I can walk to) if I really wanted to and for groceries, I used to have them delivered, so going back to that wouldn’t be an issue. I’d probably save more money because I wouldn’t stroll through all of the aisles. And for my hair, I go once a month, I could easily Uber.
So even though I could probably do it, I’m kinda scared that I’ll regret it. Financially it would be great to have $7,000 added to my savings or to even help pay off debt, but I’m worried I’ll regret it and not be able to get a good car again without overpaying and feeling silly..
Submitted December 12, 2022 at 12:01AM by cdll128 https://ift.tt/JYTvdNK
