General Question

krose1223's avatar

Which would be the best way to get rid of my car?

Asked by krose1223 (3254points) September 29th, 2008

I am going to be moving over seas hopefully in January, and I don’t want to take my car with. I have only been making payments for a little over a year (as of August), and I believe it’s a five year contract. (I’d have to double check to be sure) I’ve already asked the only person I could think of if he wanted to take over payments, but that won’t be an option. So what would be the best way to get rid of it? Sell it and pay as much as the loan off? Help please!

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6 Answers

anonyjelly16's avatar

We just took our car to CarMax two weeks ago. We received about $1000 to $2000 less than what we could have gotten if we had wanted to sell it ourselves. But, we went the CarMax route because it was very quick (a total of 2 hours for the whole process) and it saved us from paying the subsequent month’s insurance, parking, etc. It also saved us the hassle of a thousand phone calls which would have resulted in a handful of serious buyers who would have then haggled over price.

Given that you have two months, you could try and sell it yourself. But, if it gets down to the last few days, I would suggest taking it to CarMax.

robmandu's avatar

I put an ad on Craigslist when selling my last used car… and had two buyers call within 30 minutes. The 2nd one showed up the next day and bought it at my listed price.


I just hope you’re not upside down on your loan.

trudacia's avatar

Park it in a bad neighborhood with all the doors unlocked.

krose1223's avatar

@robmandu yeah that’s what I am scared of, that’s why I asked the question. That happened when I traded my last car in. Is there any way I would be able to find out in advance?

krose1223's avatar

@trudacia- I like that answer. :) I just don’t know if my crappy insurance would cover that. ha.

augustlan's avatar

Find out the Kelley Blue Book value of your car. Then call your loan company and find out how much you still owe. That should help you decide what to do.

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