Car Sale – Why I Sold My Car

Why I sold my car

Why I Sold My Car

After writing in February about how expensive a car can be and how commuting by bicycle is a great idea, you may have been wondering why this hypocrite still owns his car. Today, I’m happy to tell you that I have sold my car and am no longer a car owner. After just over ten years of continuous car ownership, I sold my most recent car, a 2005 Honda Accord.

You may ask why I sold my car. Here are a few reasons why.

Cost

A huge reason for selling my car is the total cost. I realized that I have spent about $300 a month on my car for 6 years straight. Most of that cost was depreciation, normal fuel usage, and insurance, but seeing this amount is shocking. Depreciation alone was almost $10,000, and this is my main regret on my original purchase. I bought the car with low mileage and only a few years old, so it was set up to depreciate quickly.. Assuming I buy a car sometime in the future (probably not in the near future), I would favor a car in the 80,000-100,000 mile range. Cars depreciate quicker in the first half of their life, so buying a car after this stage will decrease the amount of depreciation after purchase.

Future

At this point, my need for a car in the near future (a year or two, at least) is very low. Because I quit my job and have planned two awesome adventures, I do not need a car much this year. Early next year, I plan to move to Thailand and will obviously not need a car at that point. It would not make sense to hold onto my car any longer while paying insurance and taking even more depreciation.

Lifestyle

I am intrigued by the thought of living a normal life without a car. I honestly do not like being in a car, especially in high traffic areas. I much prefer to be on a bus or train, relaxing in a passenger seat without worrying about the road. I want to live a life without needing a car.

Owning a car makes any other travel seem difficult. Walking a half a mile to a friend’s place seems to make no sense when you can jump in a car and be there in 30 seconds. Biking to the store to get groceries seems like unnecessary work when a car requires much less effort. But if you have no choice, these options seem much more desirable. It becomes normal and simple. That’s the lifestyle I want to live, and selling my car is a big step in moving towards this.

Living in small-town USA, it will be more difficult to get around in the next few weeks, but I am happy with my decision to sell the car. This is a large step in working towards a minimalist lifestyle and also matches up with my future goals.

What can you sell to improve your life and bring down your expenses? Anything that contradicts the lifestyle that you want to live?

Image courtesy of suphakit73 / FreeDigitalPhotos.net

About Trent

I started Frugal Purpose to share my love of personal finance to assist your pursuit of a more fulfilling life. I am a financial analyst by trade, traveler at heart, and want to share with you the beauty of this world.

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