Hello, Looking to get out of car payments for a while, I'm a little upside down in the car but not much. Can anyone recommend a good place to sell the car to? I hear Morries is good, I called the used car guy, he was pretty cool but I have a feeling the offer would be too far below even book trade-in. I don't really want to sell the car private party and have a bunch of people drive it but noone has the 26k or whatever. Just looking for advice. I could just keep the car for another year/for the whole loan, but it would be nice to have the free cash for other stuff. Thanks guys!
If you are looking to purchase something else new, I highly recommend http://www.fightingchance.com/. My in-laws used it with great success for a new 2009 Honda Pilot Touring edition last year. Part of the package involves getting the most for your trade-in at purchase time. This might be a good option depending on your plans for a replacement vehicle.
You have to know you're screwed. If you owe $26k you might be able to find a quick buyer at about $23kish and you're out $3,000 (and that's a big might). In a one minute search I found multiple 09 WRX's for less than $23k. You can eat the payments for a year and drive the car, but you're paying for insurance and wearing on the car then and who knows what the situation will be in a year or so?... You should get a quote from Walser/Morries/etc and see what they will offer you to just buy the car out. Or you could look into a cheap used car from a dealer and lose out on the trade, but that way you'd have a cheaper car/payment. Anyway you look at it your probly not in great shape.
I just refinanced my 09 thru my bank to get out from under Subaru Finance and lower my rates, and the car booked at 23.9k private party. Don't think you'll get anywhere close for that on a trade.
I kinda like this idea. Maybe I can get a Toyota Corolla, ALWAYS moving forward. Perhaps they bought (stole) a cheap used car on trade for 1k, book might be 4k so my bank would help me finance the upside-downness so to speak. I'd rather lose out on the money of 10 car payments than have 50 more I guess.
