Have you ever felt you knew the logical answer to a question concerning a direction you should take, but had your emotions, masquerading as reasons, trying to convince you otherwise? This has been my dilemma with selling the truck. I’ve known for some time that I need to sell this vehicle and move on, it really has no place in my life these days, but saying good-bye can be difficult when you have formed a reliance on a particular form of transportation for nearly two-thirds of your life. I recently sold the truck (4/19/13) but not before attempting to convince myself I shouldn’t and delaying the transaction for as long as I could. In this post I want to first look at the financial changes that will come about from selling this non-performing asset and then follow-up with the emotional dilemma that played out in my mind before finally deciding to choose the right course of action.
For the remainder of the 2013 the savings I will realize are as follows:
- Insurance: 450 (plus 200.00 refund)
- Fuel : 1600
- Maintenance: 200
For the following years the projected savings look like this:
- Insurance: 950
- Fuel: 2400
- Maintenance: 250
- Taxes: 110
Future savings are likely to be even more as the cost of everything increases especially maintenance for an older vehicle.
Factors influencing my decision
Honestly this should have been a cut and dry decision, but I ended up having second thoughts when it came time to make the sell. There were some “feelings” attached to the decision that I wasn’t expecting. I found a buyer fairly quickly, but when it came time to make the transaction I was hesitant. I truly believe that it comes down to habit. I’ve always had a vehicle, except for the two years in Saudi Arabia. Then there is the comfort factor. Do I really want to ride my motorcycle in the rain? What about when it is cold? Finally there is the reluctance to change my routine in doing things. When you have a vehicle going to the grocery or running other errands doesn’t require much thought, but now I either walk to the grocery or I take a back pack with me on the bike. Neither option is complicated, but there was some emotional push back when I started thinking of it and so I delayed for as long as I could.
I’m optimistic that I will adjust to riding the motorcycle full-time. I purchased rain gear this week in anticipation of selling the truck so weather will not be much of an issue until winter. I will most likely walk to the grocery store since it is nearby, but will try riding the bike as well. It will be interesting to see how my fuel expenses will trend for the second quarter. Fuel accounted for 13% of my total expenditures in Q1. I’m expecting to see a rather large change in a favorable direction and I’m looking forward to the new experiences that come with going without a vehicle.
Anyone else made the jump to going without a vehicle? What challenges did you face and how difficult was it to adapt? I would love to hear your experience, good or bad.