Post: #26

(02-18-2016 09:33 AM)CleanSlate Wrote:  If I decide to keep the car and stash it at a family member's house while I'm gone, don't I have to keep insurance on it? If so, that's another big monthly expense.

You don't need to keep insurance on it if it's not going to be driven. If its going to be stored in someone's garage, It should be covered under the homeowner's policy.

(02-18-2016 09:43 AM)godzilla Wrote:  The insurance company will give you a lot of shit for cancelling your insurance even when I switch cars or companies they do this but you should be able to do that.

It varies from state to state in the US. I know in NY, if you cancel your coverage you have to also turn the plates in or get charged a fine or each day you keep the plates.

Post: #27

In my case, my car has been paid for long ago, with 135k miles on it, and its value is no more than 20-25% of its original MSRP.

I'm thinking it's probably best to just get tire stands, park it in a relative's unused garage, jack 'er up, and suspend insurance (or at least hold minimal coverage)... I'll check with my insurance provider on this.

Post: #28

(02-18-2016 11:28 AM)CleanSlate Wrote:  In my case, my car has been paid for long ago, with 135k miles on it, and its value is no more than 20-25% of its original MSRP.

I'm thinking it's probably best to just get tire stands, park it in a relative's unused garage, jack 'er up, and suspend insurance (or at least hold minimal coverage)... I'll check with my insurance provider on this.

When I left town for a summer I had a car with the same finances/mileage, and left it parked on the street next to a friend's house so there would be some eyes on it at least. Worked out fine. Kept insurance on it since it was still on the road, but if I'd had a nearby relative I would have done what you described and saved some money.

If I were in the OP's shoes, and had a car that I thought I could drive even for only one more year, no way I would sell. Save the money you'd spend on a new car and spend more time abroad.

Post: #29

OP do you know someone who would watch the car for a few months? You could loan it out to a trust worthy friend. Make sure to have them get 6 months worth of insurance for what ifs (probably full coverage since it will be in your name).