Many people hold onto old vehicles because getting rid of them seems complicated or they are hoping the car will eventually be useful again. But the cost of keeping an unused car adds up in ways that are easy to overlook:

• Insurance. Even minimal coverage on a stored vehicle can cost $50 to $150 per month, depending on the policy. Over a year, that is $600 to $1,800 on a car that never moves.
• Registration renewal. Illinois requires annual registration even for vehicles that are not being driven. Letting registration lapse can create complications when it comes time to sell.
• Property space. In Chicago, where garage space and driveway space have real value, an unused car may be occupying space worth hundreds or thousands of dollars per month in alternative use.
• Deterioration over time. The longer a car sits unused, the lower its residual value becomes. Rust progresses, seals dry out, tires crack, and parts that might have been recoverable become worthless. Every month of continued storage is a small reduction in what the car is worth.
• Opportunity cost. The cash value sitting in your junk car today could be redirected to something useful. That $800, $1,500, or $3,000 that EZ Cash Cars would pay today is earning nothing as long as the car sits in your driveway.
  
  

When you add these costs together, the calculation typically favors selling to EZ Cash Cars sooner rather than later, and the sooner you call, the more the car is likely to be worth.