{"id":610,"date":"2020-11-16T13:00:00","date_gmt":"2020-11-16T13:00:00","guid":{"rendered":"https:\/\/moneywithkatie.com\/why-you-need-to-sell-your-car\/"},"modified":"2025-09-05T19:42:19","modified_gmt":"2025-09-05T19:42:19","slug":"why-you-need-to-sell-your-car","status":"publish","type":"post","link":"https:\/\/moneywithkatie.com\/why-you-need-to-sell-your-car\/","title":{"rendered":"Why You Need to Sell Your Car (Maybe)"},"content":{"rendered":"

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November 2020<\/em><\/h2>\n

Let\u2019s just come right out and say it: Your car is the dumbest thing you own, financially. Buying an Audi was easily the stupidest decision I\u2019ve ever made, and I say that knowing I LOVE my car.<\/p>\n

Welcome to America, home of the Lexus December to Remember Sales Event and land of the Ford Truck Month. Americans are f***ing obsessed with cars. Americans in cities like Dallas and Los Angeles are especially<\/em> obsessed. We love<\/em> our depreciating assets and we will go to bat for them, damnit!<\/p>\n

I\u2019m pretty sure if F-150 sales were a country they\u2019d be, like, fifth in overall GDP.<\/p>\n

An opening tidbit to laugh at my expense<\/h4>\n

When I bought my Audi, I had a serious identity crisis. On the deepest level, I consider myself a frugal person capable of making reasonable decisions. I knew the Audi was technically within my budget, but I also knew I could get a used Honda Accord for several thousand less that would probably be more reliable, last longer, and be far less expensive to maintain and repair (albeit less fun).<\/p>\n

I got the Audi. Everyone told me they\u2019re expensive to repair. I assured everyone that I\u2019ve never been in an accident so this very basic and legitimate concern simply <\/em>did not apply to me.<\/p>\n

Then, as fate would have it, on March 15, 2020, exactly two weeks after I bought my car, I was stressed out driving home from Thomas\u2019s \u2013 we had just canceled our Aruba trip because of Coronavirus and I had just heard the news that we\u2019d be working from home because of the pandemic. I took the turn too tightly into my parking garage, and I heard a stomach-turning crunching sound.<\/p>\n

It was the sound of my naivet\u00e9 coming home to roost. I put a big dent in the rear passenger-side door and immediately did the two things I always do when shit hits the fan:<\/p>\n

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  1. \n

    Cry<\/p>\n<\/li>\n

  2. \n

    Call my dad<\/p>\n<\/li>\n<\/ol>\n

    Long story short, a sizable door dent in an Audi costs $4,000 to fix. Yay!<\/p>\n

    Long story shorter, I kept the dent. And my $4,000. Adds character.<\/p>\n

    Now that you know I\u2019m a hypocrite, let\u2019s get into it!<\/p>\n

    My intention is not to tell you what to do<\/h4>\n

    Instead, my intention is to get you to think critically about the decisions you\u2019re making \u2013 to question how your values align with your spending decisions, especially in these big structural arenas like automotive loans. If you look at the examples and #math in this article and still feel as though your Hummer is the soundest choice, then by all means, Hum away \u2013 as long as you\u2019re fully aware of the benefits, opportunity costs, and ramifications, you are entitled to financial decisions that serve you and your soul\u2019s desires, baby.<\/p>\n

    Why are cars financially horrific?<\/h4>\n

    There are two major things we\u2019ll explore today:<\/p>\n