I'm going travelling in July for at least a year. I own a Honda Jazz that I bought new in January 2003 (53) and I love it to bits. It's the SE model, has done just over 15000 miles and is in good condition except for a few bumps (2 of which caused by people opening their doors into mine). It's 3 year warranty runs out next January, (when I'm not here), and it'll also need it's first MOT then as well. Insurance runs out in July and the Tax in December this year.
My options are:
1) Keep it either in my parents garage or on their drive (with strict instructions to take it on a 5 mile blast once a week or whenever they are going somewhere a decent distance away). Put one or both of them as named drivers on my comprehensive insurance.
2) Sell it before I go.
(what are the implications re. NCD on not having car/insurance for a year? I've got 10 years NC at the mo.)
When I bought new I was intending to keep it for at least 5 years but because I'm not going to be here I'm not sure it's worth the hassle of sorting out insurance/servicing on a car I'm not going to be using for a year (and the money from the sale will be handy).
Any advice would be greatfully received!
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If at first you do succeed, try not to look astonished
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I think its a no brainer - sell it. You also have to think about depreciation - so may as well get as much money for it as possible now, it will only lose money in the future, and you won't be using it - kind of defeats the purpose.
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Agreed, sell it. Check with your insurance co., as I think you'll find they may well carry over your NCD for two years.
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Absolute no-brainer - get the dings taken out by a Dent Doctor or similar, sell it, put the money in your travelling fund. And have a brilliant time away!
Regards,
barchettaman
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If it is purely a money thing - sell it b4 you go and buy another when you get back.
If you have a sentimental attachment to this specific car
Get it MoTd before you go to Australia or wherever. You can MoT any car at anytime it does not have to need an MoT at that time.
Get a low mileage insurance and get your parent(s) to take it for a 10 mile run every week or so.
If it is MoT's and insured you can renew the Road Tax on-line from Oz.
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I don't agree with selling it now. The first three years are the worst time for depreciation, and although it will of course continue to go down in value, it will level out -you've stood the worst bit. If you sell now, a dealer will offer you stupid money for a straight sale. If you go private, you could get more money but have the advertising costs (with no guarantee it will sell), hassle, and odd people comming round and kicking your tyres. When you come back, presumably you'll need a car again, and if you keep this one it'll be there waiting. No hassle of car hunting. Check out the value of the car now. Correctly storing the car for a year will not do it any harm. I did this with a favourite motorcycle of mine years ago, and after 8 months at a time in correct storage I never had a problem (I did love the bike through!).
Also, you have known this car since new, which you won't with your next car unless that is also new, but with the associated cost of a new car (ouch). Prepare the car, store it correctly under cover and declare it SORN with DVLA and all will be well when you get back. If you're really desperate for cash now, then sell it, the choice is your's.
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Sell it. Save yourself the tax and insurance. Save your parents worrying about it. Putting a car into storage never improves it. If you like it that much, buy another (dent free) when you get back.
If you've any money left :-)
Hawkeye
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Stranger in a strange land
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Tidy it up and sell it and stick the money in the bank. Not only will your money appreciate (a bit) rather than depreciate, you will also not have spend out on the Tax/Insurance.
When you come back you can then buy another but it will be a year younger.
Happy travelling !
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I know how you feel - the women in my house are very attached to their Jazz - but I'd say sell it, too. If your plans change and you stay away for more than a year then trying to sell it remotely will be a right pain.
The car must be Jan 2004, not 2003, by the way, so selling it in the middle of this year it'll still have 6 mths w'tee, which should help it sell.
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Yes, I too am sure you should flog it now, mainly for the reasons given by Pezzer. The 'cost to change' is the crucial thing - the gap between what you get for your present car and the cost of a new one. This will be much less if you sell now, as you will have when you come back the value of a 2-and-a-bit-year-old Jazz rather than a 3- to 4-year-old.
Get some financial advice on how to invest the money you get and maximise the income while as far as possible ensuring capital growth or at least security.
True, you'll have the hassle of selling privately but you'll get more than if you sell to a dealer. A Jazz should be easy to sell as they are much in demand.
And have a great time!
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It all depends on how much Jane is likely to lose on it whilst she's away.
I will admit, I don't have my finger on the pulse of Jazz prices, so I don't know the answer. I'm just trying to firm up the logic.
If the loss would be equal the cost of replacing it with an identical spec,year, mileage, then I would consider advising her to keep it.
Otherwise, if she would save a packet in 'buying it back' 12 months later then selling it now would be the option.
If her parents could actualy make good use of it, it may work out well all round if they buy it now then sell it back to her when she gets back. Both transactions to be done at market prices.
Above all Jane - enjoy your travelling.
Where are you travelling around BTW?
H
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Thanks everyone for your reponses. It seems the majority recommend selling...I've still got a few months to think about it so knowing me it'll be a last minute panic decision!!
Mum and dad both have cars so the likelihood of them buying mine is zero! They would take it out for me weekly though to keep it ticking over.
I think I'll probably end up selling it, but then again maybe not! ARGGGGHHHHHHHH!
HJ....how much am I likely to get for it?
Hugo, I'm off to Australia...I've been there twice already, once for a month and the second time for 3 months. I thought I'd make use of the Working Holiday Visa scheme while I'm still under 30!
Thanks again
J
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If at first you do succeed, try not to look astonished
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Sell the Jazz. It's a desirable car and should sell with the appropriate preparation. Stick the money in the bank or similar.
Go away and have a great time
By the time you get back and have spent a year in Australia, a little Jazz may not be your cup of tea, your motoring tastes may have changed completely. You can buy the same year Jazz slightly cheaper or something else entirely different.
Have fun.
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Sell it. If it was something rare or exotic then there might be a case for keeping it, but it's a mass produced small car.
You'll have no trouble selling it - the Jazz is desirable and your's is fairly low mileage which will attract buyers.
It won't do it any good sitting around for a year with minimal use, and the car isn't going to appreciate in value.
In a years time, with the money banked plus the interest, you will be able to pick up the revised 54 plate Jazz which is improved in several areas.
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More than one Backroomer seems to think that you will have no problem selling it....this was not the experience of one owner in this thread:
www.honestjohn.co.uk/forum/post/index.htm?f=2&t=33...2
so do not leave it until the last minute!
Also, if you have 'Trader' type free newspapers where you live, make use of same to advertise gratis...and don't forget to make use of the FOC 'Classifieds' section in this Backroom.
As regards value (this will drop soon due to lots of used cars coming onto the market when 06 reg commences)...have a look on:
www.parkers.co.uk/
If you do not sell it...I would have thought that a decent 30-40 mile run (by your parents) once a month would be better for the car than 5-10 miles weekly...but that is just my way of seeing things!
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As regards value have a look on: www.parkers.co.uk/
I have looked left at the Autotrader link to judge prices.
If you do not sell it...I would have thought that a decent 30-40 mile run (by your parents) once a month would be better for the car than 5-10 miles weekly.
I am just coming towards the end of a year minding a car for my offspring while she is down under.
I would agree with the financial advice above and after a spell in OZ your next choice car might be different.
Factors in keeping rather than selling.
Some Negative points
1. Repeat of searching & finding the right vehicle.
We searched for 2months plus 100 miles to collect.
Gazza took 3 months and I had similar aggro plus 100miles to find my Mondeo.
2. Selling at the last moment
3. Repeat of risks with unknown history.
4. Tax, insurance, MoT, maintenance, loss of ££s in interest
Some Positive points
1. No car hire required during three week holiday back in the UK.
2. In our case only a three week window for a replacement purchase on return
3. Similar sized car bought in OZ so no problems re size
4. Happy with current car
5. No worries on the car from me or daughter.
6. I got 1000 miles of economy motoring.
7. No cost to change.
I got a 1500 limited mileage policy from Footman James.
£250 for a 1.3 2000 Yaris in the London area with me as named driver.
This allowed approx 100 miles a month to warm it up etc. and yes I used it about once a fortnight.
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