Buying a new car is exciting, whether it is brand new or secondhand, it is new to you and your family. It’ll have new gadgets to play with and buttons to press. It’ll feel different, and it might be in much better condition than what you are used to, even if it is secondhand. Most people enjoy shopping for a new car. They might have a Wishlist of things that they want from a vehicle and take time to test drive some options before committing to a purchase.
But, a less exciting prospect can be what to do with the old one. In fact, this is something that most people don’t give very much consideration at all. You might just think that you’ll cross that bridge when you get to it. But, deciding what to do with your old car might increase the options that you have when it comes to buying a new one. Here’s a look at some of the things that you could do with your old vehicle.
Give it Away
Many a 17-year-old has received their parent’s old car as their own first vehicle. If you fancy a new car, and you’ve got children that are starting to think about driving, if your old car is in a safe, drivable condition, it could be a fantastic option.
An alternative is selling your car to a friend or family member for a reduced price, giving them a chance to get out on the road safely.
If you need the money from the sale of your old car to invest in a new one, then giving it away might not be an option. The good news is, the used car market is thriving, and just because you don’t want your car anymore, doesn’t mean that someone else won’t. Increase the sale price by taking care of minor repairs, touching up paintwork damage, cleaning it and making sure it’s had a recent MOT and service.
Some people replace cars when they fancy a change or an update. But, not all of us are lucky enough just to be able to go out and buy a car when the mood takes us. You might have to drive your vehicle until it is no longer drivable. Only replacing it when you have no other choice. When this happens, you might worry that you can no longer can any money from your old heap of a car. But you can always get something. Look at cash for clunkers, to see what you can get, even if you are only selling it for scrap metal.
Trade it in
An option that is growing in popularity is trading old cars in, towards the cost of a new one. This can be an excellent option whether you are buying a new or secondhand vehicle and is offered by many dealers.
Whatever you decide to do with your old car, remember that it will need to be officially registered to the new owner, or legally taken off the road. Until this happens, you will be responsible for it.