If you have lost your privilege to drive for six months or longer, you may consider selling your vehicle to save money. The money you receive for your vehicle may be better used paying for the fines, attorney fees, and transportation for the length of your suspension or revocation. In addition to saving and raising money, selling a car during the loss of a license can remove the temptation to driving without a license, which carries additional severe penalties.
Things that matter:
- Driving on a suspended or revoked license penalties are very harsh, including arrest, vehicle impound, and others.
- The length of the suspension is important. If longer than 6 months, cost of ownership (vehicle insurance, depreciation, and maintenance) saving can be substantial.
- Understanding your transportation costs during suspension/revocation can help in seeing the total cost/economic need.
- License reinstatement will most likely require an ignition interlock. To avoid malfunctions in interlock performance a properly functioning and well-maintained vehicle is essential. A new or new to you car may be the best option.
Find out how much your car is worth before trying to sell it.
Evaluating your financial situation is important for determining if selling your car is the right move.
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