Keep The Car Or Sell?

[Luang]

My partner and I are moving to another country for 2 years or so soon. We have a new car that is financed over 5 yrs. When we go we will have paid off 2 yrs and hence 3 yrs to go before it is completely ours and paid off.

Now, as we are not going to use it for at least 2 years my initial thought was that only selling it would make financial sense. However, I thought I should explore all angles and maybe get the views of some other kind folks on here.

So, the scenarios are sell it and start all over again later on returning to Thailand OR keep making payments even though we are not using it. Initial thoughts of a few people I mentioned it to seem to be to sell it, but is it that clear cut? Yes, we can sell and not be making payments and wasting money on something we won't use, but then we lose the car and essentially waste 2 yrs of payments and a hefty deposit. Also, we would have to start over again and pay another 5 yrs when/if we did sell to start paying for another new car later on returning. If we decide to keep it then it's paid off in 3 yrs and we don't have to start over.

I'm beginning to think that the decision is not quite so clear cut as I thought initially.

Thoughts anyone? Thanks in advance.

Luang

[bellboy]

Storing a car for 2 years. and not using it. Will mean the engine will seize up.

If you have some one to turn the engine. and drive it round the block.

To keep the engine moving. keep the car. otherwise. sell it and suffer your losses

bellboy

[WarpSpeed]

Agreed, maybe not an engine seize but so many other negatives abound, other mechanical issues like seized brakes, dried out bushings, critters, thieves, vandals, potential floods, the list is really endless, sell and start over when the time comes.

[Hssl]

sell it because WHO do you trust to store the car and keep it in working condition whilst your away.

[maprao]

I put one of ours up on jacks while we are away. We use it for three months in the year. I have often had the same thoughts. The financial loss is too much. I will continue doing this. Get a full service on it before we use it.

You also have to consider you have to continue paying the class 1 insurance.

[DILLIGAD]

I put one of ours up on jacks while we are away. We use it for three months in the year. I have often had the same thoughts. The financial loss is too much. I will continue doing this. Get a full service on it before we use it.

You also have to consider you have to continue paying the class 1 insurance.

plus road tax fees will be backdated from when it was last taxed too.

[Phronesis]

This post just illustrates the misguided and ill informed EMOTIONS that consumers attach to vehicles.

The car companies spend Billions on marketing and promotion to create these emotions.

A car is NOT an asset.

A car is a depreciating liability.

More so if you don't actually use it and are not able to properly maintain it.

And what is this nonsense you spout about "start all over again".

Your car IS NOT business you have built up, investment or other asset that provides you with income. Start what all over again?

Another arrangement where you lock yourself into debt to pay off a depreciating liability?

Sigh.....is it any wonder 1% of the population has all of the wealth.

[prestburypark]

You should be able to recoup what you have paid for it so far, second hand values being what they are, maybe someone could take your payments over..officially of course. Don't think that you should lose too much on a two year old car, good luck!

[puuchai299]

Some of this will depend on what brand of car it is.if its a low mileage car and its not going to be used much in the next 2 years,apart from it being started and run a little say once a month then it's going to stay in good condition and hold its value relatively well.

I just part exchanged a 9 years old Ford Ranger pickup which I payed 616.000 baht for and got 270.000 baht back for it in exchange for a new one at 760.000,so after 9 years the depreciation is minimal.i was told by many car franchises that if it had been a Isuzu or Toyota the px price would have been even better.

[ajahnlau]

Find out from bank or finance what amount is owed if paid off now. Then try to sell for more than this amount. Go to one2car.com and see what your car is roughly worth.

[seedy]

Run the numbers.

You said hefty deposit and two years payments.

If you like the car, and can not get a selling price to minimize your outlay to date, store it.

Don't believe all the horror stories of storage. My Dyna was in storage for 6-1/2 years. I put fresh fuel in it, topped off the tires, installed new battery and rode it away.

No issues - if done correctly.

[BSJ]

Your best option is to leave it with me. You have to keep your payments going and pay me a fee for looking after your car but it will be under cover except when it is taken for it's monthly run of around 25km. Will be kept on a trickle charger when in storage.

And the best part is it's only 3000 baht a month.

[WarpSpeed]

Run the numbers.

You said hefty deposit and two years payments.

If you like the car, and can not get a selling price to minimize your outlay to date, store it.

Don't believe all the horror stories of storage. My Dyna was in storage for 6-1/2 years. I put fresh fuel in it, topped off the tires, installed new battery and rode it away.

No issues - if done correctly.

I see, so you were lucky so no one else has relevant experiences. Silly, that's like saying "I never had a flat tire before so no one else has".

[Ace of Pop]

Run the numbers.

You said hefty deposit and two years payments.

If you like the car, and can not get a selling price to minimize your outlay to date, store it.

Don't believe all the horror stories of storage. My Dyna was in storage for 6-1/2 years. I put fresh fuel in it, topped off the tires, installed new battery and rode it away.

No issues - if done correctly.

I just take the Tape out of my Dyna, and leave it in the Office Draw.

[IMHO]

Your best option is to leave it with me. You have to keep your payments going and pay me a fee for looking after your car but it will be under cover except when it is taken for it's monthly run of around 25km. Will be kept on a trickle charger when in storage.

And the best part is it's only 3000 baht a month.

LOL

Where are you? I have a car in Chiangmai that I only go to visit for a few months/year, and I'm pretty sure my sister does more than just 25KM/month in it... 3000 Baht sounds pretty reasonable, considering the amount of cutting compound and sweat I have to go through every time I get back up there, 555

[Ace of Pop]

Your best option is to leave it with me. You have to keep your payments going and pay me a fee for looking after your car but it will be under cover except when it is taken for it's monthly run of around 25km. Will be kept on a trickle charger when in storage.

And the best part is it's only 3000 baht a month.

LOL

Where are you? I have a car in Chiangmai that I only go to visit for a few months/year, and I'm pretty sure my sister does more than just 25KM/month in it... 3000 Baht sounds pretty reasonable, considering the amount of cutting compound and sweat I have to go through every time I get back up there, 555

And the Porche goes back to Malaysia, or am i wrong.You sound like an old poster from near Ubon to to me.

[IMHO]

Your best option is to leave it with me. You have to keep your payments going and pay me a fee for looking after your car but it will be under cover except when it is taken for it's monthly run of around 25km. Will be kept on a trickle charger when in storage.

And the best part is it's only 3000 baht a month.

LOL

Where are you? I have a car in Chiangmai that I only go to visit for a few months/year, and I'm pretty sure my sister does more than just 25KM/month in it... 3000 Baht sounds pretty reasonable, considering the amount of cutting compound and sweat I have to go through every time I get back up there, 555

And the Porche goes back to Malaysia, or am i wrong.You sound like an old poster from near Ubon to to me.

The Cayenne stays in BKK with me

[BSJ]

Don't care what the car is as long as it's insured. The shed I am renting is a little bigger than I need.....and I can always park a Porsche, going by size, next to my welding bay.

[seedy]

Run the numbers.

You said hefty deposit and two years payments.

If you like the car, and can not get a selling price to minimize your outlay to date, store it.

Don't believe all the horror stories of storage. My Dyna was in storage for 6-1/2 years. I put fresh fuel in it, topped off the tires, installed new battery and rode it away.

No issues - if done correctly.

I see, so you were lucky so no one else has relevant experiences. Silly, that's like saying "I never had a flat tire before so no one else has".

Luck had sweet FA to do with it - correct preparation did.

[WarpSpeed]

Run the numbers.

You said hefty deposit and two years payments.

If you like the car, and can not get a selling price to minimize your outlay to date, store it.

Don't believe all the horror stories of storage. My Dyna was in storage for 6-1/2 years. I put fresh fuel in it, topped off the tires, installed new battery and rode it away.

No issues - if done correctly.

I see, so you were lucky so no one else has relevant experiences. Silly, that's like saying "I never had a flat tire before so no one else has".

Luck had sweet FA to do with it - correct preparation did.

Yes that is the point of the info offered so far and also in other threads pertaining to proper vehicle storage.. But you suggest that we are clueless of how to properly store a car short/long term but if you search you'd see a lot of helpful tips to do so properly just not wise to do in this case..

[maprao]

This post just illustrates the misguided and ill informed EMOTIONS that consumers attach to vehicles.

The car companies spend Billions on marketing and promotion to create these emotions.

A car is NOT an asset.

A car is a depreciating liability.

More so if you don't actually use it and are not able to properly maintain it.

And what is this nonsense you spout about "start all over again".

Your car IS NOT business you have built up, investment or other asset that provides you with income. Start what all over again?

Another arrangement where you lock yourself into debt to pay off a depreciating liability?

Sigh.....is it any wonder 1% of the population has all of the wealth.

This is true. But,,,,,,,There are exceptions to your generalization....

Pristine 1980 Ford Escort with just 12,000 miles on the clock goes on sale for £37,500 - more than 12 times its original cost

http://www.dailymail.co.uk/news/article-2281210/Pristine-1980-Ford-Escort-just-12-000-miles-clock-goes-sale-37-500--12-times-original-cost.html

The money is small keeps the wifey smiling which makes the buffalo happy so let it ride......