If you only use your car occasionally, it may be worth considering selling it and simply renting a car when you need one.
Here’s a few things to consider:
- Cars depreciate in value from the moment you buy them
- Unused cars often rust and have other problems that well-used cars don’t have
- Even if you don’t use your car much, you still have to pay insurance, tax and annual servicing and MOT costs
On the other hand, having your own car means that it is available to you, without advance notice, 24 hours a day, 365 days a year.
The question is whether this is important or useful to you.
Choosing car rental over car ownership can save an awful lot of headaches. Rented cars are usually less than a year old and rarely breakdown. If they do, it won’t cost you a penny.
If you live in a large city, for example, and only use your car when you leave the city, then the chances are most of these trips are planned. In that case, you could simply rent a car when you need one and avoid the cost and hassle of owning one the rest of the time.
It’s worth thinking about – owning a car that rarely gets used is very poor value for money. Renting a car occasionally could be much cheaper.