We have a third car we haven't been using. When our new yearly car insurance (Starts Mid February) came in, I was shocked to see this 2008 fully paid for fully equipted vehicle had the insurance go up from $12 a month to $44 a month. Not going to pay for something we haven't used in at least 6 months.
We had been discussing selling it for over a year. If we really needed an extra vehicle due to a scheduled maintenance or emergency we could borrow a vehicle or even rent one if we truly needed to.
DH took photos and we looked at comps. Posted it at 4 pm on Saturday and it was sold, paid for and out of our driveway at 8 pm. Hindsight we could have probably asked more, but I just wanted it done.
All paperwork was done properly with a Bill of Sale and the Buyer signing the back of the title. Make sure you do this! State of CT Dept of Trans allows you to cancel plates due to sale/loss etc online. That was done.
I emailed a copy of the receipt from the DOT and a copy of the Bill of sale to our towns Assessor's office and they have already replied that it has been taken off of our property account.
Payment was Cash. So extra money in.
Savings were as follows:
$528 insurance
$100 property tax (approximate)
$20 Emissions Testing
$120 for future Registration I do now not need to do in August.
Nice!
I would almost rather sell a car for a bit less than it is worth than to have a parade of potential buyers who want to dicker. I always price a car to sell.
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