Author Topic: Advice on Car Problem  (Read 1479 times)

chrismo2012

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Advice on Car Problem
« on: December 27, 2013, 09:02:52 PM »
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. 

Rebecca Stapler

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Re: Advice on Car Problem
« Reply #1 on: December 28, 2013, 09:41:07 AM »
It may not be just the price that is turning people off from making an offer. Do you have photos of the car? Did you post it on a site that gets a lot of traffic? Some of it also might be due to timing -- I'm not sure how many people buy used cars over the holidays. Regardless, I would spruce up your ad and diversify where you're posting it before dropping the price.

Any savvy used car buyer knows that the asking price is the starting point for negotiations.

Oh, and have you seen similar cars advertised? What's their listed price?