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Started By
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What to do with extra car?
Posted on 1/11/19 at 10:02 pm
Posted on 1/11/19 at 10:02 pm
I have a paid off high mileage vehicle that is still in good condition and useful, but just got a job where they are giving me a vehicle to use. I don’t think I could sell the vehicle for much more than $5,000, and kind of want to keep it just in case something happens with the job, but also don’t think spending the money on insurance just to hold the car is wise.
What would you look at in regards to making this decision?
What would you look at in regards to making this decision?
5
Posted on 1/11/19 at 10:16 pm to TigerGrad2011
so the company vehicle is the only one you will have? you do not need a private vehicle for other use? backup? i am so glad i have a 3rd vehicle because we have needed it at times plus we use one for travel. Just get basic liability on it.
This post was edited on 1/11/19 at 10:17 pm
Posted on 1/12/19 at 5:40 am to TigerGrad2011
Affidavit of non use to remove insurance. Start it up once in a while and move it around a bit on your driveway to keep everything moving and tires from getting flat spots. If you need to start using it again just call your insurance company to get covered. Your welcome.
Posted on 1/12/19 at 7:52 am to Skorzany
Having a car sitting around just isn't a good idea. Even if you start it up once a week and run it for a bit. Unless its in a garage I wouldn't do it. In the south a car will get musty and even mildew on the inside if the a.c. is not frequently used.
Posted on 1/12/19 at 8:08 am to TigerGrad2011
donate it to one of the organizations that provide free cars to working single mothers.
Posted on 1/12/19 at 10:36 am to Fat Bastard
It’ll really be a backup. I like the idea of affidavit of non use and just running it around the block every so often. If things stop working, I think it’s at a value where it won’t go down much more, so that might be a good compromise.
Posted on 1/12/19 at 12:21 pm to TigerGrad2011
quote:
really be a backup. I like the idea of affidavit of non use and just running it around the block every so often. If things stop working, I think it’s at a value where it won’t go down much more, so that might be a good compromise.
If you drop insurance then drive it off your property you’d be subject to it being impounded for no insurance if you get stopped. (Assuming LA). Just FYI
Posted on 1/12/19 at 1:05 pm to TigerGrad2011
I’d keep minimum insurance on it and drive it once a week to keep things moving. I’m not sure I’d be comfortable only having a company vehicle, unless you live in a city w excellent public transit.
Posted on 1/12/19 at 6:21 pm to brass2mouth
quote:I wouldn't be as concerned with the potential impounding as the liability if someone accidently got injured.
If you drop insurance then drive it off your property you’d be subject to it being impounded for no insurance if you get stopped.
Posted on 1/12/19 at 8:43 pm to TigerGrad2011
Insurance cost every month x the amount of use it gets + sell the anchor
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