I recently moved in with my partner, about 40 miles from work. My older car was/is a higher mileage Subaru Outback, but I wanted to put that car into retirement and get something more comfortable and with better fuel economy for the 80 daily miles. I bought a new 2025 Accord Hybrid. Got a good financing credit (and honestly amazing deal) and paid it off immediately.
Shortly after this, I discovered a group employee van that will pick me up one block from my home and take me to work, and back, daily. The cost of this service is a no brainer. Basically gas cost plus $20/mo. Now, the Accord sits and it will rarely be used.
I am debating selling it, as I still have the Subaru. As it stands, the highest offer I have from a dealer/Carvana types will result in a $5,000 loss (most of this was sales taxes and fees). Once I factor in the increased insurance, annual registration (high in my state), and the interest that will build on this money, the loss will be negligible in about two years and I’ll stop thinking about the loss almost immediately. On top of this, I recently learned that the vehicle is not comfortable for me after about 2 hours in the seat (the only thing it will be good for at this point is long road trips, something the Subaru is not up for).
Would you sell in my situation? I don’t want to give up the new, paid off car and take the loss, but now it’s just an expensive depreciating asset that is not even being used for what I bought it for.
To put it into perspective, in my financial situation, $5,000 probably isn’t even worth the trouble to try and find a buyer for a private sale and get some more back.
Selling a car I just bought in January? What would you do?
byu/Ok-Yogurtcloset8344 inpersonalfinance
Posted by Ok-Yogurtcloset8344
3 Comments
Try selling it private party. You won’t get all your money back but probably better than selling to a dealer
Sell. It’s not comfortable and it’s not being used. If you need a car for a long road trip, rent something. That also doubles as a long term trial period for the car to see if you like it. A 20 minute test drive only tells you so much.
How do they determine “gas cost” in a commuter situation? Is it actually going to be as cheap as you think? 40 miles a day sucks, but in a hybrid isn’t that like less than a gallon of gas? Would you use the car for anything else? I know in my situation, having a car saves us a ton of money, effort, and time