Summary:
If you´ve already paid off your gas-guzzling car or truck, you might want to let that vehicle sit in your driveway - instead of selling or trading in. This 500-word blog entry discusses your options in this situation.

Details or Sample:

With fuel prices still rising here in the United States, many people are thinking of trading in their gas-guzzling cars and trucks. This is a good idea only if you really need the money to buy a fuel-efficient vehicle. If you can afford a better car without getting rid of the less-efficient one, you should seriously consider just leaving that car or truck in the driveway for the time being.

Right now, the trade-in value on larger vehicles is not very high. You might not get much from a straight sale, either. Yes, some people still want those larger vehicles. Drivers who need pickups will still buy them. People who have lots of kids or stuff to haul around will still buy SUVs.

However: there are plenty of those larger cars and trucks for sale right now. They aren’t as desirable as they were before fuel prices started rising, so there are plenty to go around. Because there are plenty to buy, the value will of course drop.

That’s why you should leave your pickup or SUV in your driveway. Later, when the fuel market stabilizes itself, you can trade or sell that vehicle for more than what you can expect now. You might even want to start driving that car or truck again, depending on fuel prices and your budget.

That does not, however, mean that you should not try. If you can locate a buyer who will pay fair market value for your inefficient vehicle, and you’re certain that you will not need that car or truck, a sale could be great for your budget right now. You can use the money to gas up your fuel-efficient vehicle, pay the insurance, or enjoy a summer vacation.

Before you make the sale, however, you should be sure that you won’t need that vehicle. Your truck, SUV or larger car could be perfect for a monthly trip to the grocery store; a family vacation, or some other type of trip. Even if you don’t drive that vehicle every day, or even every week, you might still need it for something.

If you decide to let that vehicle sit in the driveway, you can help your finances by dropping it from your insurance policy. Another option is to ask your company about provisional insurance, which is cheaper than the standard coverage.

If you aren’t going to drive the car or truck at all for a while, feel free to let the registration and inspection expire. If your vehicle is not on the road, you don’t have to have valid tags. Just be sure to renew them before you start driving that car or truck again.

Though the extra money, or trade-in value, would be great to have right now, there are times when keeping the vehicle is better for your budget. Consider your options and needs before you decide. You might find a good deal and get rid of that gas chugger after all.

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Written by: Sarah81
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