Two Octobers ago (2012) I stupidly bought a new 2013 Hyundai Elantra. I still have $14,900 on the loan at 4.14%.
I need to sell this car, but not quite sure how to go about it. I've posted it for sale at $14,900, but have had no bites. On Kelley blue book it is valued at about $14k.
Should I sell the car for less than the amount I owe on the loan, and cover the rest with my savings? I'm worried that it won't sell for anything more than $13k. Is it in my best interest to use $1900 of savings to pay off the loan?
I need to unload this car as soon as possible, but I want to do it smartly. Thanks.