Advise needed on selling my car

I own a 2022 Mazda-3 sedan that I purchased brand new 3.5 years ago for $40,000. The car currently has 37,000 miles on it. It is under a loan, with approximately $12,000 remaining over the next 19 months.

I was recently laid off and must leave the U.S. within 60 days. I am actively searching for a new job, but given the current immigration situation, I am uncertain whether I will secure one within that timeframe. My employer mentioned I could return once I find a new position in the U.S., but that may not be feasible. I also have Canadian PR and am considering moving to Canada.

I love my car and would prefer not to sell it, but according to Kelley Blue Book, its current value is around $20,000. I’m unsure whether it makes financial sense to:

  1. Sell the car now and take the $20,000, (Profit 8,000)or
  2. Keep it stored at a friend’s place while I search for a job and potentially return to the U.S. or move to Canada.

I would appreciate advice on the best approach in this situation, balancing financial considerations, logistics, and my future plans.

Posted Apr 9, 2026, 8:00 PM UTC

16
Loading comments…