Author Topic: Best way to SELL my 2014 Jeep  (Read 2749 times)

TwixBar

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Best way to SELL my 2014 Jeep
« on: March 18, 2015, 11:06:30 PM »
My question:  What's the best way to sell my 2014 Jeep Grand Cherokee Laredo with < 13K miles on it?

I'm considering the following options:
-Craigslist
-Autotrader
-Sell it to a local Jeep Dealership (i live in Oakland, CA)
-Trade it in when purchasing my next car (considering a Mazda 3 or maybe a Mini Cooper)

Here's some background...I made a mistake last year and bought a new 2014 Jeep Grand Cherokee.  I spent 34K, and then added about 3k worth of upgrades (leather seats/roof rack/tow hitch).  I can afford to pay it off all at once, but I'm making payments since it's 3 year 0% interest loan.  I kick myself everyday for having bought this car.  It bigger than I need, guzzles gas, costs a fortune AND the automatic transmission sucks = not fun to drive :(

I've decided I don't need such a big car, and I want to sell it.  Does anyone have experience selling a relatively new car?

Thanks!
Twix

Mrkineticz

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Re: Best way to SELL my 2014 Jeep
« Reply #1 on: March 18, 2015, 11:25:46 PM »
sucks but if you sell your car right out u will be upside down because you already lost value driving it off the lot. your currrent options are

- trade in and buy a cheaper used vehicle
- pay off the loan and sell the car ( accept you will be taking a loss)
- get someone to take over your payments and switch loan to that persons name
-wait until the value of your vehicle is the equivalent of your balance and trade it in.

Mistah Cash Lion

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Re: Best way to SELL my 2014 Jeep
« Reply #2 on: March 18, 2015, 11:57:06 PM »
My question:  What's the best way to sell my 2014 Jeep Grand Cherokee Laredo with < 13K miles on it?

I'm considering the following options:
-Craigslist
-Autotrader
-Sell it to a local Jeep Dealership (i live in Oakland, CA)
-Trade it in when purchasing my next car (considering a Mazda 3 or maybe a Mini Cooper)

Here's some background...I made a mistake last year and bought a new 2014 Jeep Grand Cherokee.  I spent 34K, and then added about 3k worth of upgrades (leather seats/roof rack/tow hitch).  I can afford to pay it off all at once, but I'm making payments since it's 3 year 0% interest loan.  I kick myself everyday for having bought this car.  It bigger than I need, guzzles gas, costs a fortune AND the automatic transmission sucks = not fun to drive :(

I've decided I don't need such a big car, and I want to sell it.  Does anyone have experience selling a relatively new car?

Thanks!
Twix

No experience selling a new car, but I would recommend selling it to a private party and cover the loss with the cash you have.  You will get far more for the car selling it privately than by trade-in or dealership.

Then purchase a good used car with the remaining cash.  You're going to take a loss no matter which way you cut it.  Selling it yourself should minimize your losses the most compared to the other options.

EDIT: Also see: http://www.mrmoneymustache.com/2013/04/22/curing-your-clown-like-car-habit/

And: http://www.mrmoneymustache.com/2012/03/19/top-10-cars-for-smart-people/
« Last Edit: March 18, 2015, 11:59:48 PM by Mistah Cash Lion »

chasesfish

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Re: Best way to SELL my 2014 Jeep
« Reply #3 on: March 19, 2015, 05:06:10 AM »
You may not be underwater, three years is an aggressive amortization on the loan.

Your best starting point is to take it to CarMax and get an offer.  Let us know what that is and what you owe, then you need to decide if its worth your time to attempt to get a higher amount than Carmax. 

Smokeydave

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Re: Best way to SELL my 2014 Jeep
« Reply #4 on: March 19, 2015, 06:24:15 AM »
I took a car to Carmax in 2011.  They offered 10,000 for it.  I sold it on Craig's list for 14,500 the next week.  It was a little unique (7 years old 10,000 mile 4x4 truck) but I would try the private sale first.  You will need a clear title so you would have to pay it off then sell or make arrangements with the Lean holder.

HairyUpperLip

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Re: Best way to SELL my 2014 Jeep
« Reply #5 on: March 19, 2015, 06:37:58 AM »
Sold a 2014 car to Carmax a couple months ago with 5k miles on it.

worked well for us.