Cut cost and headache

1 min read
Cut cost and headache
Photo by Dan Gold / Unsplash

If you don't use your car much, now's a really good time to think about selling it. Normally used cars fall in value each year, but over the last year they have increased in value by a massive 30% (Office National Statistics), due, it's understood, to the difficulty of getting new cars, caused by Covid-related production and delivery problems. It would be a real shame to miss out by not selling now, and then selling next year when the value has dropped again.

Most households in Islington (about two thirds) do not have a car and manage perfectly well without. Many young people are not even bothering to learn to drive, realising that living in a major city means that owning a car brings costs and problems, rather than the freedom promoted in the ludicrous car adverts. If you think you need to keep the car because, although you seldom use it, there are occasions when it's essential – why not investigate car clubs (e.g. Zipcar)? They are designed with you in mind.

You'll make money by selling your car, and then save money every year, by not paying to keep your car. This costs between about £3,400 and £5,700, depending on whether you pay car finance. You can stop all that waste, and bring in some significant funds, by selling your car now. Other people are doing just that - definitely worth thinking about.