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Selling my car I barely use, but need advice on how to go forward with my decision!
itsamyprobably
Posts: 11 Forumite
Hey! 
I am 27, and I got my first car April 2018 and bought it “outright” using a loan (yep, big mistake) the payments are costing £224 a month, I’m trying to save for a house deposit so it isn’t ideal! I work about 10 minutes away from my house so I just walk it, I got the car as I was hoping to move stores, however an opportunity in my current store has now come about so I don’t need to travel now! I only use the car when I go food shopping and occasionally going to shops further afield or to my boyfriends when he isn’t free to drive down!
I only passed my test early 2018 so I’ve had 1 year no claims and my insurance renewed for its 2nd year this April. If I sell the car, but in say 2/3 years I want to get a car due to work etc how would I be affected in terms of applying for insurance as I’m still a new driver!
No idea where to actually start with selling, it has 3 scrapes to the paintwork and also a cracked plastic back headlight cover! The car itself and the mechanics etc are all in working order! A few of the big car selling sites have given me a quote of around £3000, I paid £5200 from a car garage for it (it’s a 2013 fiat 500)
Thankyou!
I am 27, and I got my first car April 2018 and bought it “outright” using a loan (yep, big mistake) the payments are costing £224 a month, I’m trying to save for a house deposit so it isn’t ideal! I work about 10 minutes away from my house so I just walk it, I got the car as I was hoping to move stores, however an opportunity in my current store has now come about so I don’t need to travel now! I only use the car when I go food shopping and occasionally going to shops further afield or to my boyfriends when he isn’t free to drive down!
I only passed my test early 2018 so I’ve had 1 year no claims and my insurance renewed for its 2nd year this April. If I sell the car, but in say 2/3 years I want to get a car due to work etc how would I be affected in terms of applying for insurance as I’m still a new driver!
No idea where to actually start with selling, it has 3 scrapes to the paintwork and also a cracked plastic back headlight cover! The car itself and the mechanics etc are all in working order! A few of the big car selling sites have given me a quote of around £3000, I paid £5200 from a car garage for it (it’s a 2013 fiat 500)
Thankyou!
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Comments
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Your NCD entitlement tends to run out after 2 years of not driving/no insurance so in 3 years you'll have to start again from scratch and for a fairly new (and I guess young) driver this will be expensive.0
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Another option I’m thinking of is the SORN the car, so I’m not paying for insurance on a car I’m not even driving!
That way if my situation changes ie job or house move, I can just take the SORN off and re insure the car?!0 -
In three years time the OP will be 30, and have four years' driving experience, so maybe not so expensive.Your NCD entitlement tends to run out after 2 years of not driving/no insurance so in 3 years you'll have to start again from scratch and for a fairly new (and I guess young) driver this will be expensive.0 -
Your NCD entitlement tends to run out after 2 years of not driving/no insurance so in 3 years you'll have to start again from scratch and for a fairly new (and I guess young) driver this will be expensive.
Thankyou! I hadn’t even thought about that either, my first year was £1400 and my 2nd with No claims was £7300 -
We all make mistakes.
Even with SORN you will need to keep it insured. All you will save id the road tax, i.e. not a lot on a Fiat 500 and you will loose more than that in depreciation.
£3000 for a 2013 Fiat 500 seems like a great offer, I would sell it."A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
Ride hard or stay home :iloveyou:0 -
No you don't!We all make mistakes.
Even with SORN you will need to keep it insured. All you will save id the road tax, i.e. not a lot on a Fiat 500 and you will loose more than that in depreciation.
£3000 for a 2013 Fiat 500 seems like a great offer, I would sell it.
By definition the car is off the road and no insurance is required.0 -
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To SORN it you need to keep it off the public road. Do you have a drive to put it on?
You should insure it for fire and theft.0
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