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Message
Car buying situation-Need advice
Posted on 12/15/14 at 6:19 pm
Posted on 12/15/14 at 6:19 pm
Ok, here's the situation:
My wife has a base model (I'm talking no cruise control, manual door locks, etc) 2011 Honda Civic sedan. She bought it while we were just dating so I didn't really have a say in it, but now we have a baby and we need a new vehicle. I am not a small guy and I hate driving it and I basically have to get on my knees to get the car seat in and out. We are looking at some different model SUV's and are going to chose one of those as her vehicle/family vehicle.
The thing is, my wife still owes $8,500 on her car. I know we wouldn't get jack from it for trade in at the dealership, so how do we go about selling it third party?
I am looking forward to y'all's advice, this is new territory for me.
TL;DR- want to sell wife's car third party, but she owes $8,500, how does that work?
My wife has a base model (I'm talking no cruise control, manual door locks, etc) 2011 Honda Civic sedan. She bought it while we were just dating so I didn't really have a say in it, but now we have a baby and we need a new vehicle. I am not a small guy and I hate driving it and I basically have to get on my knees to get the car seat in and out. We are looking at some different model SUV's and are going to chose one of those as her vehicle/family vehicle.
The thing is, my wife still owes $8,500 on her car. I know we wouldn't get jack from it for trade in at the dealership, so how do we go about selling it third party?
I am looking forward to y'all's advice, this is new territory for me.
TL;DR- want to sell wife's car third party, but she owes $8,500, how does that work?
8
Posted on 12/15/14 at 6:35 pm to TBass82
i'm a n00b when it comes to buying or selling cars, but it sounds like you need to
1) advertise vehicle with price
2) sell said vehicle for price
3) if vehicle sold for more owed, then great..you can pay off car with that before transfer
4) if vehicle sold for less, then you will need to come out of pocket
i don't really know if that's right or not
...i imagine you could transfer the car note to the new buyer but im not sure
1) advertise vehicle with price
2) sell said vehicle for price
3) if vehicle sold for more owed, then great..you can pay off car with that before transfer
4) if vehicle sold for less, then you will need to come out of pocket
i don't really know if that's right or not
...i imagine you could transfer the car note to the new buyer but im not surePosted on 12/15/14 at 6:37 pm to TBass82
To make your life easy, I suggest going to a honda dealership and trading that civic in on a new Honda Pilot.
Posted on 12/15/14 at 6:40 pm to HailToTheChiz
What's difference between what you owe vs what you think you could sell it for?
If trade in, you get the tax credit, and could also roll over the debt inequity. Not ideal, but if you can't sell it for what you owe will have to do it anyway.
As far as selling it privately, I alwasy start at carmax. They'll give you a no BS bottom price. You can always go back to that.
Then get a burner phone and list on Craigslist.
If trade in, you get the tax credit, and could also roll over the debt inequity. Not ideal, but if you can't sell it for what you owe will have to do it anyway.
As far as selling it privately, I alwasy start at carmax. They'll give you a no BS bottom price. You can always go back to that.
Then get a burner phone and list on Craigslist.
Posted on 12/15/14 at 8:12 pm to TBass82
I'd try to sell it, but if you can get within $1,000 or so, I'd just take the loss and consider it a lesson learned. You'll pay off the next car, so in the end it won't be a problem.
Posted on 12/15/14 at 8:29 pm to TBass82
1) Drive vehicle to Ferguson.
2) Stop at the local c-store, leave car running.
3) Take a poop at store and then do a little shopping
4) come out to a stolen car
5) call insurance and get full value
6) dance
2) Stop at the local c-store, leave car running.
3) Take a poop at store and then do a little shopping
4) come out to a stolen car
5) call insurance and get full value
6) dance
Posted on 12/15/14 at 9:10 pm to notiger1997
quote:
To make your life easy, I suggest going to a honda dealership and trading that civic in on a new Honda Pilot.
This
Just go in and say you're loyal to Honda and they will at least give you lube and not go in dry
Posted on 12/15/14 at 9:14 pm to dallastiger55
Make sure you get in touch with coach Guidry
Posted on 12/15/14 at 9:24 pm to LSUtigerME
quote:
Then get a burner phone and list on Craigslist.
I use Google voice for everything I sell on craigslist.
You should be able to at least break even on a Honda. Get coach guidry and/or offer 3% over invoice, but not on a pilot. I looked at one last week and was very disappointed with the cheap construction, versus the usual quality of Honda products. Comparing the inside of a new Accord to the pilot, the pilot is really cheap.
Posted on 12/16/14 at 12:00 am to TBass82
But it's always so much more economical to buy rather than lease isn't it?
Posted on 12/16/14 at 6:37 am to Layabout
Go to the "money talk" board.
Page, Coach Guidry, tell him what you're looking to do and he will take care of you. He sells Honda's and gives great advice and it's not B.S.
Your welcome
Page, Coach Guidry, tell him what you're looking to do and he will take care of you. He sells Honda's and gives great advice and it's not B.S.
Your welcome
Posted on 12/16/14 at 8:36 am to TBass82
I recently sold one by owner, but we didn't owe anything on it. I would call the financing company first to see what they say about selling by owner, since they have a secured interest in the car.
FWIW, sold my car for 90% more than I was offered by any dealer. I just checked a few sites for similar model vehicles to find the price. List on Craigslist and Autotrader simultaneously and you will get plenty of offers. Make sure you clean it up real nice before you take pictures. Good luck
ETA I sold a Camry, bought an Accord. Love the Accord
FWIW, sold my car for 90% more than I was offered by any dealer. I just checked a few sites for similar model vehicles to find the price. List on Craigslist and Autotrader simultaneously and you will get plenty of offers. Make sure you clean it up real nice before you take pictures. Good luck
ETA I sold a Camry, bought an Accord. Love the Accord
This post was edited on 12/16/14 at 9:16 am
Posted on 12/16/14 at 8:41 am to TBass82
Hondas usually hold their value pretty well especially if the car is only 3-4 years old and if it hasn't had any accidents / it's in good condition.
Take it to CarMax and get a quote from them. It will establish a floor of what you can get for it.
Go to the Honda dealership, tell them you love the Civic but you need something bigger. They will work with you. You might be surprised in what you get in trade, and they might be able to "roll the difference" into the new note. This isn't the best of ideas - but if you plan on driving the next car into the ground, it might be ok.
I would look at an Accord, though. Just see if you can make it work. If not, look at a CRV. I am not impressed with Pilots.
Take it to CarMax and get a quote from them. It will establish a floor of what you can get for it.
Go to the Honda dealership, tell them you love the Civic but you need something bigger. They will work with you. You might be surprised in what you get in trade, and they might be able to "roll the difference" into the new note. This isn't the best of ideas - but if you plan on driving the next car into the ground, it might be ok.
I would look at an Accord, though. Just see if you can make it work. If not, look at a CRV. I am not impressed with Pilots.
Posted on 12/16/14 at 9:57 am to LSUFanHouston
TBASS...how many miles on her Civic??
Posted on 12/16/14 at 10:09 am to TBass82
At least check with Carmax. My daughter recently got a new car and Carmax gave her $2000 more for her car than dealer would give her on trade in.
Posted on 12/16/14 at 11:23 am to Coach Guidry
Thanks for the replies everyone
Coach, it's got around 61k miles, she did back into a car in a parking lot and we just got the bumper replaced.
Coach, it's got around 61k miles, she did back into a car in a parking lot and we just got the bumper replaced.
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