Made a huge mistake with upside down car loan...

[StartingOver10]

Do you have a Carmax in your area? You can get a quote from them and the quote is good for 7 (IIRC) days.

Then check out private party value to see if you get more. Carmax is easy and painless. But you do get more with private party sale. As to timing - one of the others will have to answer you.

[Revelate]

If you know the rough resale value of your car, presumably you checked it online somewhere; plug in a swag for the new car age and new mileage and see what you get to compare now vs. post San Diego.

Individual models and makes even depreciate at different rates, other than the kelly blue book or similar check, not certain how else to make the determination of when.  We're pretty early in the year so it's not like you're going to get a new model or calendar year which I suspect is a killer as far as resale value... I've heard dealerships with used inventory have that problem both model and calendar year, so it probably applys in this situation too.

[Anonymous]

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@StartingOver10 wrote:

Do you have a Carmax in your area? You can get a quote from them and the quote is good for 7 (IIRC) days.

Then check out private party value to see if you get more. Carmax is easy and painless. But you do get more with private party sale. As to timing - one of the others will have to answer you.

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I do.  That's where I bought the Kia from.. I'm being told about a buy back program.. So I'm thinking about checking that out. 

[Anonymous]

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@Revelate wrote:

If you know the rough resale value of your car, presumably you checked it online somewhere; plug in a swag for the new car age and new mileage and see what you get to compare now vs. post San Diego.

Individual models and makes even depreciate at different rates, other than the kelly blue book or similar check, not certain how else to make the determination of when.  We're pretty early in the year so it's not like you're going to get a new model or calendar year which I suspect is a killer as far as resale value... I've heard dealerships with used inventory have that problem both model and calendar year, so it probably applys in this situation too.

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Swag for the new car age and new mileage?  I'm thinking about selling it to a Kia Dealership or back to CarMax.  I've fallen in love with my wife's 2005 Honda CR-V.. Might look into a Honda Pilot or a Civic now. 

[Revelate]

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@Anonymous wrote:

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@Revelate wrote:

If you know the rough resale value of your car, presumably you checked it online somewhere; plug in a swag for the new car age and new mileage and see what you get to compare now vs. post San Diego.

Individual models and makes even depreciate at different rates, other than the kelly blue book or similar check, not certain how else to make the determination of when.  We're pretty early in the year so it's not like you're going to get a new model or calendar year which I suspect is a killer as far as resale value... I've heard dealerships with used inventory have that problem both model and calendar year, so it probably applys in this situation too.

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Swag for the new car age and new mileage?  I'm thinking about selling it to a Kia Dealership or back to CarMax.  I've fallen in love with my wife's 2005 Honda CR-V.. Might look into a Honda Pilot or a Civic now. 

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Bad choice of words: make a silly wild ass guess for the age and mileage of the car if you keep it till after you get to San Diego.  Run that through your value estimate and compare that to if you sell the car right now on current age and mileage and you can estimate how much the car would depreciate.  It might not be by much or it may be a lot.

[Anonymous]

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@Revelate wrote:

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@Anonymous wrote:

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@Revelate wrote:

If you know the rough resale value of your car, presumably you checked it online somewhere; plug in a swag for the new car age and new mileage and see what you get to compare now vs. post San Diego.

Individual models and makes even depreciate at different rates, other than the kelly blue book or similar check, not certain how else to make the determination of when.  We're pretty early in the year so it's not like you're going to get a new model or calendar year which I suspect is a killer as far as resale value... I've heard dealerships with used inventory have that problem both model and calendar year, so it probably applys in this situation too.

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Swag for the new car age and new mileage?  I'm thinking about selling it to a Kia Dealership or back to CarMax.  I've fallen in love with my wife's 2005 Honda CR-V.. Might look into a Honda Pilot or a Civic now. 

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Bad choice of words: make a silly wild ass guess for the age and mileage of the car if you keep it till after you get to San Diego.  Run that through your value estimate and compare that to if you sell the car right now on current age and mileage and you can estimate how much the car would depreciate.  It might not be by much or it may be a lot.

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My parade was just rained on.. My co-worker said that Navy Federal wont release the title of the vehicle till the auto loan is paid off . 

[StartingOver10]

That's always how it works. That is why you bring the car to carmax and get the firm quote on what they will pay for it - then you know how much cash you have to bring to get the deal done if you are upside down. It works better than a trade. You can start fresh with a new loan on another vehicle. Carmax does these deals all the time where they have to get the title from the lender at time of payoff.

If you aren't upside down, you get the difference.