Saturday, June 14, 2014

Should I trade in? or sell privately?

Should I trade in? or sell privately?
I'm going to be getting some money due to a settlement. So I want a newer more reliable car. I am making payments on a 2004 hyundai santa fe My initial loan was 12,000 I've been paying on it for over a year. It is HORRIBLE on gas and I hear hyundai's don't last too long. So I want to invest in a Honda Civic. Preferably a 2006-2007 Honda Civic four door. I shopped around, it's looking to be about 11-12 grand. The trade in value of my car is 7,000 according to kelly blue book. So my question is, do I go to a dealership and trade my car in and just hope they pay off the rest of my loan that I currently have on my car? or do I sell it independently for the private party value (including my transferable two year warranty) -paying off my loan then using that amount (plus my settlement money) to buy and pay off a car at either a dealership or private seller... please, someone help me out here! thank you!
Buying & Selling - 4 Answers
Random Answers, Critics, Comments, Opinions :
1 :
well if you trade your santa fe a dealership will probably take-off for every little defect with the vehicle and things like that but it up to you
2 :
talk to dealer and see what kind of deal you can get try to sell and see if you get any offers
3 :
You will get a lot more for it if you sell it to a private party. The only problem with that is that sometimes it takes time between selling your car and buying the new one - can you be a few days without a car? If no, you might have to trade it in. But sell it outright if at all possible! I'd NEVER trade a car in, personally. Try www.cars.com to sell - it's pretty affordable, and it gets a lot of hits, you are sure to sell your car there. I've purchased at least 2 cars there myself, and sold a couple, too.
4 :
I wouldn't trade it in. I would sell it but I don't trust the 2006/07 Honda Civic's too much. Too many reports of engine block problems. http://www.carcomplaints.com/Honda/Civic/2006/engine/ I have a 2001 Elantra with close to 170,000 miles on it and I still get around 34 MPG. The newer Elantra's saves even more gas. Just like with any car, if you take care of it it will last. There are other good gas savers in the same class as the Civic. I would shop around some more.



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