# Keeping paid off car, or sell it and rent car when need it



## chef1 (Dec 16, 2016)

So i live in Montreal, 15 min by metro from down town, using the car to do groceries1 time a month, go to TO every 3 months and get my son for check up every 3 months, ever thought the car is paid off , it costs 300$ year in plates fees ,and around 700 $ a year in insurance+ gas here and there, say 1500 a year.is it worth keeping it or just sign up for. Like communauto, 8$ a month membership fees, + im not sure how much for mileage, and for long distance just rent a car.any opinions out there? What are u guys do?


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## drivingcanada (Dec 15, 2016)

Given the low frequency or your vehicle usage, my personal inclination would be to look into a car sharing service, and rental for longer trips. My advice would be to estimate your usage and try to work out how much it would cost to go the car sharing/rental route + some additional cost to account for unforeseen instances where you need to rent unexpectedly. At the end of the day, you have to decide whether you can afford to give up the freedom of being able to hop into your own vehicle at any time to go somewhere.


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## chef1 (Dec 16, 2016)

Fair enough.thanks.


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## STech (Jun 7, 2016)

Vehicles don't like to sit idle for long periods. You might get surprised how much more you end up spending on repairs and maintenance for a vehicle with such little use.


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## ian (Jun 18, 2016)

I would get rid of it.

When we lived in downtown Toronto for four years we did not operate a car. We had subway and bus within five minutes. We sometimes rent a car on the weekend at weekend special rates. No car insurance, no repairs, no parking fees, no gas, no hassle. We found it to be very liberating. We shopped the car rental agencies for Friday night-Sunday night weekend specials.

Try parking your car for a month and see how much you spend on taxis or rentals. 

The car sharing service can substantially more expensive than 'saving up' your trips and renting a car for the weekend every so often.


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## chef1 (Dec 16, 2016)

Soooo funny.as we carry this conversation, i just checked with other insurance company and they offer me 50% less than what i paid now for my car!!


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## NorthKC (Apr 1, 2013)

Definitely do a test run without your car for a month especially in the middle of winter (a real good mental test). Perhaps an alternative could be done such as e-bike (don't knock it) rather than car-sharing.


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## naysmitj (Sep 16, 2014)

You do however have to watch your car insurance though. If you are uninsured for over a year and then re-apply for insurance, you start at a much higher risk category with a higher cost.


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## chef1 (Dec 16, 2016)

Yes i know , now however, this new company offered me 430$ a year insurance instead of 800$ , now thats something.


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## amitdi (May 31, 2012)

NorthKC said:


> Definitely do a test run without your car for a month especially in the middle of winter (a real good mental test). Perhaps an alternative could be done such as e-bike (don't knock it) rather than car-sharing.


i second this opinion. financially,it may make sense to sell the car. but what about convenience? but this is a non-financial decision IMO. you are basically paying for the convenience of having a machine in your possession that will take you anywhere anytime you want. for rentals, taxis, there is that wait and inconvenience of calling, going there picking up, etc etc. so its you who need to decide how much you want to pay for the convenience? in order to decide, the 1 month winter test will help for sure.


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## internalaudit (Jan 27, 2017)

Didn't know plate fees cost $300/year.

I thought $120 in Ontario is already expensive.

Now that you have cut it down to $730 (300 + 43), I would think it makes sense to just keep the car. Just like what I do with my 02 Honda Civic. But then I live in the suburbs where cars are essential.

Won't two taxi cabs or rentals already cost $70/month?


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## CalgaryPotato (Mar 7, 2015)

If you consistently only drive that much, I think it would be worth it to sell the car and use rentals/taxis.

But I guess you have to look at what the likelihood of circumstances changing are. 

I couldn't imagine not having a car, but Calgary must be very different than Montreal. If I had to take transit every time I went across town, I'd waste my whole life on it.


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## agent99 (Sep 11, 2013)

amitdi said:


> i second this opinion. financially,it may make sense to sell the car. but what about convenience? but this is a non-financial decision IMO. you are basically paying for the convenience of having a machine in your possession that will take you anywhere anytime you want. for rentals, taxis, there is that wait and inconvenience of calling, going there picking up, etc etc. so its you who need to decide how much you want to pay for the convenience? in order to decide, the 1 month winter test will help for sure.


All true. Same argument could apply to washer/dryer. Why own them, replace often or pay for repairs when you can find a laundry within walking distance in many locations. Probably not a good comparison, but same sort of decision.


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## My Own Advisor (Sep 24, 2012)

Interesting thread...

We live in Ottawa but not near transit unfortunately...and given our jobs...need to be a work early and sometimes late, a car is essential for us.

We have two. A 2012 KIA and a 2000 old beater Mazda (that baby is mine). Both are paid for.

If we lived on a transit line, or future light rail in Ottawa, we'd probably just have one car. 

Back to you - on demand convenience is coming at a cost. Do a trial for a month or two. Do it soon. See how long you can last without it. A rental for your every 3 months travel to Toronto will likely do. Otherwise, a car-sharing service once per month is likely all you need. 

Good luck!


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