Dilemma; Someone offered to buy my car

[Troy]

Tough decision. If it's not eating any money, it's not deteriorating, and you don't need to sell then there's no real impetus to sell it.

On the other hand, as you noticed, that's a pretty great offer and it makes perfect sense to let go. Even once you get back it sounds like you have a time and money consuming job ahead of you to finish the car so it could very well be another 7-8 years before it's "done". I fondly remember my first cars (I had a 70 Challenger and 68 Charger both when I was 16). However, I'm honestly glad I don't still have either because, for a long time, I had nowhere to store them so I'd have either driven them to the ground or they'd have deteriorated into it by sitting out in a field. I've had the opportunity to own way cooler cars since then so I've had plenty of chances to make more memories.

While selling makes sense, there are some real downsides. You no longer have a car. While a car is a tangible thing, that money becomes little numbers on a bank statement and tends to have a way of disappearing. I can't tell you how many times I've seen a car sold with the intention of buying another but then the money gets spent on a vacation, bathroom remodel, or the kid's braces. This is especially true when decisions about money are shared (I'm single and even I accidentally spend money that I set aside). It's hard for most people to recover such a large amount without diligent saving and sacrifices in other parts of their lives. In a way, the car is a savings account that can't be easily liquefied.

You will likely always regret it selling if you never replace it or don't at least turn it into something that brings as much satisfaction/joy. Sell with a plan - and stick to it - or politely decline the offer.

Troy

[viper r/t]

Tough decision. If it's not eating any money, it's not deteriorating, and you don't need to sell then there's no real impetus to sell it.

On the other hand, as you noticed, that's a pretty great offer and it makes perfect sense to let go. Even once you get back it sounds like you have a time and money consuming job ahead of you to finish the car so it could very well be another 7-8 years before it's "done". I fondly remember my first cars (I had a 70 Challenger and 68 Charger both when I was 16). However, I'm honestly glad I don't still have either because, for a long time, I had nowhere to store them so I'd have either driven them to the ground or they'd have deteriorated into it by sitting out in a field. I've had the opportunity to own way cooler cars since then so I've had plenty of chances to make more memories.

While selling makes sense, there are some real downsides. You no longer have a car. While a car is a tangible thing, that money becomes little numbers on a bank statement and tends to have a way of disappearing. I can't tell you how many times I've seen a car sold with the intention of buying another but then the money gets spent on a vacation, bathroom remodel, or the kid's braces. This is especially true when decisions about money are shared (I'm single and even I accidentally spend money that I set aside). It's hard for most people to recover such a large amount without diligent saving and sacrifices in other parts of their lives. In a way, the car is a savings account that can't be easily liquefied.

You will likely always regret it selling if you never replace it or don't at least turn it into something that brings as much satisfaction/joy. Sell with a plan - and stick to it - or politely decline the offer.

Troy

Sooo much good advice in this!     

[Ghoste]

I agree, see it all the time.