Can the dealership or financing company help me resell after a couple of years?

[Lexi0000]

Hi all,

I Purchased this car 2 years ago and I've got 4 more years to go. The thing is I just got accepted to a school in Europe and I will be travelling in a few months.

I have no idea what my options are. Should I sell the car myself? Can I take it to dealership so that they help me sell it back? How does this work?? The car is still in good shape, never had an accident and I don't drive it that much anyway. 

Any advice would be welcome!

Thanks.

[-Cal-]

A good first start would be to go to Carmax and get an offer from them. Then shop it around at a few dealers to see what they offer you. If you're not satisfied then try to sell it yourself.

[StartingOver10]

No, don't take it to the dealership unless you take it to Carmax.  Carmax will give you a price that they will pay to buy it. That price is better than a trade in value but less than what you can get if you sell it yourself.

Other dealerships only do trade's - they don't buy your car outright. They may advertise they do, but they do that to get you there to trade in your vehicle. You want to sell it, not trade it.

I have sold car's to Carmax and I like it for a vehicle that needs a little work. They have the capacity to do whatever work is required and there is no liability for me. Plus I walk out with money right away. In order to get that convenience, I have to sacrafice some $$$.

If you have a longer time frame than by all means sell it yourself. Get the Carmax estimate first so you know what your low end is and then do some research on auto trader to see what people are asking and price your car accordingly.

If you are upside down you will need to bring money to sell it. Find out what your balance is on the vehicle loan asap so you have all the information to make an informed decision

[Remember0]

Agree with the above posters. Start with Carmax. See what they appraise it at and if that amount is fair (post back here) and will cover your existing loan.

[Lexi0000]

Thanks a lot guys!

It's a 2010 Chevrolet that has around 55000miles. I bought it with about 33000 miles on it. I just checked Kelly blue book and looks like I'd get between $10 and $14000. 

I curently owe $11,600 so I think I should be able to get a check for -- at least--that amount.  

I also just realized that I need to change my windshield and get new tires (was told that, last time I got the car checked). Should I fix those things before selling the car?

I have at least 5months left before I leave. When should I get really serious about selling? Ideally I'd still be driving it at least 2 or 1 week before I travel.

[Lexi0000]

*Edit: I have to change 2 tires.

[StartingOver10]

---

@Lexi0000 wrote:

Thanks a lot guys!

It's a 2010 Chevrolet that has around 55000miles. I bought it with about 33000 miles on it. I just checked Kelly blue book and looks like I'd get between $10 and $14000. 

I curently owe $11,600 so I think I should be able to get a check for -- at least--that amount.  

I also just realized that I need to change my windshield and get new tires (was told that, last time I got the car checked). Should I fix those things before selling the car?

I have at least 5months left before I leave. When should I get really serious about selling? Ideally I'd still be driving it at least 2 or 1 week before I travel.

---

No. The Kelly Blue book rate is what you would be able to get by selling it retail on your own.

A dealership doesn't pay you the retail rate. They pay as little as they can because it is a business for them. Seriously. If you go to Carmax you will have an better idea of real numbers for the sale. The bid is good for 7 days. You can go now and choose not to sell it until just before you leave if you want both the convenience of not worrying about the sale and driving it up to the time you are just about ready to leave.

It is very possible that you are upside down (value less than loan) and will need to figure out where the extra $$ is coming from to complete the sale. If I were you I would be finding out the actual potential sale figures now and try to sell retail if at all possible to minimize what you have to bring to get the deal done.

What's wrong with the windshield? Are the tires safe for you to drive on now?

[Lexi0000]

Why do you assume I'm upside down?
The above range is what I'll get whether I sell it myself or to a dealer. Depending on the vehicle condition of course.
I'll go to Carmax next week.
You also said that If I get a quote now I can still drive it until I leave? I believe the quote is only good for 7 days.

I've been told k need to change both tires on the right side. That was over 3 mths ago. I haven't had any issue with them so far.
I have a small crack on my windshield.

[StartingOver10]

I assumed you were upside down based on the amount owed IIRC $11,600 and the probable amount that you will be offered by Carmax. I hope I am wrong. I hope you aren't upside down.

The reason I thought it might be wise to go in next week to get the actual figure is so you can plan accordingly to either sell it to Carmax before you leave or sell it on your own and still have time to do that. Selling on your own has some logistical issues - you don't have nearly the control over the timing that you do when you sell to Carmax (or other car vendor that buys).  But you usually sell for more selling it on your own.

The quote from Carmax is only good for 7 days. So if you want to keep the car until just before you leave, you would have to go in again and get another quote and sell it at that point. The only reason to go in next week is so you are working from actual figures rather than a rough estimate from KBB. 

As to the tires, that's a safety issue. Probably would change them if you are driving the vehicle. Idk about the small crack. Would depend on size and where IMO.

[Remember0]

I'll take opposing sides on maintainence. If it's not a safety issue, do NOT get it fixed. You will get a higher value for trade, but it won't be exactly what you initially put into fixing it. If a safety issue, well then, that's another thing. But I doubt your tires are down to 2"...post a pic if you want.

Also if she looked at KBB Trade in Value, often that's not too off. I've been offered essentially KBB Fair trade value by carmax on a good condition car before.