1. The Job Market
Remote jobs are on the rise in America. In 2013, we saw an astounding 1 in 5 Americans working from home. Since then, we have only seen the number grow as many companies allow their employees to work remotely to increase morale. Additionally, millions of Americans are feeding their entrepreneurial spirit by opening up new businesses or pursuing a career in freelancing. Thus, this makes the “need” for a car more of a luxury than a necessity.
2. Tollway Expenses
Maintaining your car and riding on tollways is becoming a huge expense for people nationwide. Here in Texas, residents can pay upwards of $300/month in toll fees. Once you tack on the car notes, the occasional mechanical issue, weekly stops to the gas station and anything such as car washes or system updates, your car becomes a costly investment–often costing more than what the car is worth.
3. Car Note Payments
Loans are outrageous these days. Unfortunately, by the time you pay off your loan, your vehicle is dated, worn down and it’s time to buy a car all over again. To receive an estimate on how much your car is costing you, use Interest.com’s Auto Loan Calculator.
4. Pay Off Debts
By selling you car, you have the opportunity to pay off any debt you may have accumulated from student loans or credit cards. The average American is in debt by $3,300. (Nerd Wallet.) A great way to reduce your debt is by selling your car!
5. Become Eco-Friendly
Opting for a more eco-friendly life is a fantastic, socially-responsible way to both save money and save the environment. As we become well-versed in environmental topics and consequently more self-aware, our response is to contribute to preserving our beautiful planet. Millions of consumers have migrated to transportation-friendly cities for the environmental effects alone. You can find a list of the best cities for transportation here.