To sell or not to sell?

[ThomasC91]

I'm having an argy bargy with my old fella.

I have an S90 2016 inscription with 55,000 on the clock. 20 inch wheels, bliss, 360, sunroof, android play etc etc

I am going to be going away for a year on a working holiday visa to New Zealand next year.

I pay £145 a month on a 7 year loan with my bank. I have just under £10,000 left to pay and the original loan was about £12,000

It's very high spec and I paid about £17,000 for it a couple of years a go, having part exd my Volvo V40. This was with a garage near me + not Volvo. Has full service history etc

I have put my car in a valuation site and Motorway are offering me shy of £15,000.

My dad thinks I would be mad to keep the car 12 months whilst I'm away paying £145 a month and I disagree. The debt needs paying off anyway and I plan to keep the car. I'd have to buy another one when I got back and I don't think I would find one with my mileage and spec for what I paid. It would also cost me more interest as I'd then have to set up another loan.

My dad advises me to get an early resettlement fee and is 100% on me selling it although I've said it would cost me more in the long run if I did that.

What would you do?

[lordofthejungle]

Rent it to a friend or family.

[Moomoo]

You say it would cost you more in the long run!

How do you know?

Car prices are fickle at present.

I’d sell ,laid up modern motors, mmmmmm!?

[SnineT]

I'd move it on tbh, we're at the top end of the market right now and it could go either way in a years time and be worth 15k still or 8k who knows,

One thing for certain though it doesn't do a car any good to be sat up for long periods, things go hard, perish or turn to globby glue in addition to moisture not getting driven out of the cavities through speed drying,

One other thing you're not considering, how about you get to NZ and meet someone and fall in love, or simply fall in love with NZ and not want to come back, it's all loose ends and if you're worried about your parents in later life don't! I did and even though they said to go I didn't, I had Aus as my dream destination and if I'd gone when I was going I'd be having a better life now and not living in a battery hen farm environment, my mate went a few years before and you could buy a detached bungalow with a field for a garden for $35k Aus, that was about £17k in GBP at the time and there was real opportunity back then as well, not the same place anymore though but NZ PM apart NZ is still relatively untouched by the modern hand.

[Tony H]

Used cars are probably at their peak value right now. I'd sell it, clear off your loan and use the rest when you get to NZ to buy a cheap runaround, or have some fun.

Then when you get back, you can have a shop around. Hopefully by then inflation/war/covid will all be over and done with and used car prices will be more affordable again and you can buy yourself another S90 (or maybe something different even -S60/C40 or even a Polestar 2)

[ThomasC91]

Originally Posted by lordofthejungle

Rent it to a friend or family.

I can't think of anyone who would want to do that

Originally Posted by Moomoo

You say it would cost you more in the long run!

How do you know?

Car prices are fickle at present.

I’d sell ,laid up modern motors, mmmmmm!?

Well I suppose things could change but because I got a really good deal on my S90 in regards to the spec it has and the mileage. Looking on auto trader it was a bit of a steal in comparison to other s90s with that spec and mileage.

I think it would cost me more because I'd have to set up another loan, more interest, I'd have to buy another S90 and try source the right spec and mileage, which currently at £17,000 is very hard to do.

I'd have the debt for longer when I've already paid off a year's worth... For the sake of £145 for 12 months which is how long my visa is.

Originally Posted by SnineT

I'd move it on tbh, we're at the top end of the market right now and it could go either way in a years time and be worth 15k still or 8k who knows,

One thing for certain though it doesn't do a car any good to be sat up for long periods, things go hard, perish or turn to globby glue in addition to moisture not getting driven out of the cavities through speed drying,

One other thing you're not considering, how about you get to NZ and meet someone and fall in love, or simply fall in love with NZ and not want to come back, it's all loose ends and if you're worried about your parents in later life don't! I did and even though they said to go I didn't, I had Aus as my dream destination and if I'd gone when I was going I'd be having a better life now and not living in a battery hen farm environment, my mate went a few years before and you could buy a detached bungalow with a field for a garden for $35k Aus, that was about £17k in GBP at the time and there was real opportunity back then as well, not the same place anymore though but NZ PM apart NZ is still relatively untouched by the modern hand.

I can only stay a year as it's the terms of the visa, it's a working holiday visa and they are keeping my job open here in the UK. I am taking a career break.

Yeah I see your point about it just sitting around, but I could get it driven every now and again

I have done a working holiday visa in Australia too. But I have no commitments and for me I do new Zealand now or I don't do it at all. You can only do a working holiday visa if you're ages between 18 - 30 so I applied for this visa just before I turned 31 and have until April to enter.

Originally Posted by Tony H

Used cars are probably at their peak value right now. I'd sell it, clear off your loan and use the rest when you get to NZ to buy a cheap runaround, or have some fun.

Then when you get back, you can have a shop around. Hopefully by then inflation/war/covid will all be over and done with and used car prices will be more affordable again and you can buy yourself another S90 (or maybe something different even -S60/C40 or even a Polestar 2)

Yeah I'm just quite unsure. S90 was my max in regards to what I paid, I really treated myself.

[SnineT]

Yeah I remember the visa age thing passing me by but you need to think long term, is it just life experience or would you want to move on at a later date?

If you can keep the car active it helps, probably best to insure dad on it and let him use it or run it once a week, prices wise and the fact you appear to be going to return I know prices will fall but it won't be in a year imo as there is a hole in the normal rights of passage regarding car supply and until the Ukraine thing and the next version of Coldvid22 are out of the way supplies are going to be short and also playing catch up with demand for at least 3 years by my barometer,

If it was any old car I'd still say move it on but I know the spec you have there and it's hard to let go when you find a car that is like a multi talented eager to please wife who never gives you any reason not to fully love her, wash & wax her down, pump up her tyres and lick her dashboard while whispering to her "I love you"

Let me do it easy for you, when I actually pulled the trigger on the S90 it was the end of a 5 year desire, I had to get it out of my system, you're nowhere near getting it out of your system and you will follow her tailpipes wherever she leads you to until the day arrives when she no longer appeals to you and you entice her to leave you for another keeper.

[ThomasC91]

Originally Posted by SnineT

Yeah I remember the visa age thing passing me by but you need to think long term, is it just life experience or would you want to move on at a later date?

If you can keep the car active it helps, probably best to insure dad on it and let him use it or run it once a week, prices wise and the fact you appear to be going to return I know prices will fall but it won't be in a year imo as there is a hole in the normal rights of passage regarding car supply and until the Ukraine thing and the next version of Coldvid22 are out of the way supplies are going to be short and also playing catch up with demand for at least 3 years by my barometer,

If it was any old car I'd still say move it on but I know the spec you have there and it's hard to let go when you find a car that is like a multi talented eager to please wife who never gives you any reason not to fully love her, wash & wax her down, pump up her tyres and lick her dashboard while whispering to her "I love you"

Let me do it easy for you, when I actually pulled the trigger on the S90 it was the end of a 5 year desire, I had to get it out of my system, you're nowhere near getting it out of your system and you will follow her tailpipes wherever she leads you to until the day arrives when she no longer appeals to you and you entice her to leave you for another keeper.

I don't have the qualifications to move out to NZ and work there permanently. It doesn't appeal to me either tbh, this is just for the experience.

I've just had another look on Autotrader and for my sort of spec with decent mileage, no more than 60,000. When I bought mine it had 45,000 miles and is now just 55,000 miles ( I don't do many miles) ...you are looking at £20,000. Mine has all bells and whistles including b&w sound, sunroof, all the additional safety features, bliss, car play, electric air conditioning in back, 360camera and I'm sure there's more lol.

I just rang the bank and the settlement fee would be £8488.

Decisions, decisions.

It's not like I need the cash as I have other savings.

Yeah it's a beautiful car

[Moomoo]

Good settlement figures, I’d take it.

But it’s YOUR car!👍🤔

[XC90Mk1]

Your dad is right, as are the above posters, perhaps not touching on something however….

If you leave your car 1 year then:

You will return to a frozen and siezed hand brake requiring remiadial work.
Your discs will be heavily corroded, and whilst likely ok there is every chance your caliper pistons will be frozen. Expect bills.

Fallout on the paint (bird muck, industrial fall out and traffic film) will be etched into your paintwork and you won’t remove it without professional mopping etc.

Your tyres will have flat spots and cracking.

If it were a 12-15 year old vehicle I would still advise to get rid, however at your conditions it’s crazy!

Your only option is to give it/Loan it to family members. I have never done this but friends have and they always receive it with scratches, scuffs and nicks. Your pride and joy (I am the same!) is an old Volvo to them and they won’t care.

Sell it for a stupid price (2k to have a car like that for that time is great) and rebuy upon return.