What to do when wanting to sell useless crap? - FMVperformance.com : The site for all your Ford Mazda and Volvo needs
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post #1 of 33 (permalink) Old 11-05-2008, 02:53 PM Thread Starter
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What to do when wanting to sell useless crap?

My useless crap is my Mazda 3. It's not a useless vehicle, but is useless for my current personal situation. I will do a little back log on my car. Bought my car at close to "peak" economic condition and was setup with a fixed interest rate of 8%, and then I financed some debt consolidation, tags, extended warranty, and GAP insurance on top of that. I also paid $2k down so that made the debt a little less painful at the time. I bought a bike in the summer and paid cash and insurance up for a year, so I could better position myself to let my car go. I owe roughly around $18.5 and it's an 2007 with almost 15k miles. Another reason why I bought a bike so I can let the miles settle on my car.

My dilemna is with the current economic situation I basically would have to give my car away to make someone buy it. I'm really too tight on cash to just give my car away. I roughly have around $5k in cash to put towards the negative equity in my car. I also have my bike that I could finance $2k out of to get some more cash to fund the negative equity. I have some mods on the car that I would like keep on the car, but is a deal killer for most buyers. If I kept the mods on the car I feel I could sell it for $15-16.5k (depending on the buyer), but without the mods I could probably only get $13k for it. That's a little over $3k less than what my car is valued through KBB.

Selling my car would put me in a much better position than what I'm in. I'm currently still capable of saving at least $150/month, but I would like to be able to save more, and my car is the biggest asset I currently own. Over $500/month is going down the drain for this car. I have no INTENTIONS OF EVER FILING BANKRUPTCY, and I'm in no position to currently have too. I just really want to sell my car.

Any good websites that are fairly inexpensive to list cars? Anyone know how much Autotrader or EBAY charges to sell a vehicle. This process will be a little bit longer, since Chase has a lien on my car, and I would have to wait for everything to clear. The ending transaction could easily take a month to get everything cleared through my bank and on Chase's end. I don't want to take a big loss, but I'm willing to take a loss, since I could make up over $6k in 1 year from liquidating my car. Right now I wouldn't want to sell my car for less than $13k with none of the mods. Anyone that has any ideas of what we be a cheap or fairly costly alternative, please let me know.

LMFAO "oh i thought i didn't need that" i bet in your head you were like "go kick your mom in the ass for me when you get home " 08mazda2.0
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post #2 of 33 (permalink) Old 11-05-2008, 02:56 PM
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Re: What to do when wanting to sell useless crap?

craigslist

TheBigLot


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post #3 of 33 (permalink) Old 11-05-2008, 02:58 PM
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Re: What to do when wanting to sell useless crap?

www.buyorselltv.com

Well I'm with you fellers.
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post #4 of 33 (permalink) Old 11-05-2008, 02:58 PM Thread Starter
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Re: What to do when wanting to sell useless crap?

Used craigslist and it was junk. All I got was spam to find a cheaper car, or do the transaction through ebay. Not going down that route at all. I'll keep the big lot in mind, but I don't want to spend more than $100 to list my car on any one website. That's just more money I would be throwing away that I could keep.

LMFAO "oh i thought i didn't need that" i bet in your head you were like "go kick your mom in the ass for me when you get home " 08mazda2.0
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post #5 of 33 (permalink) Old 11-05-2008, 03:01 PM Thread Starter
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Re: What to do when wanting to sell useless crap?

That buy or sell tv looks cool, but I can't tinker with anything till I get home. I'm currently at work and don't want to take up time setting up that crap. I can easily wait to do it at home. Had it for sale on this forum, but it got deleted when the servers crashed and I don't want to go through the headache of getting it back up. I want to make this a quick sale, so I'm willing to take a fairly big hit to get the car sold.

LMFAO "oh i thought i didn't need that" i bet in your head you were like "go kick your mom in the ass for me when you get home " 08mazda2.0
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post #6 of 33 (permalink) Old 11-05-2008, 03:19 PM
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Re: What to do when wanting to sell useless crap?

Do you have access to another car? Because if your only option is your bike after getting rid of your car that is going to make life tough. Commuting to work on a bike is not always feasible nor is carrying things like grocceries going to work out well. In most cases mods are going to reduce the value of the vehicle quite a bit unless they are minor or not noticable to the buyer.

If you are able to save $150 a month I would consider just keeping your car. In another year or two you'll have positive equity in it and in a few more it'll be paid off. Its not pleasant as it stands, but you'll only save about $1500 or so in interest payments if you paid it off now.

So how much of a hit would you take selling the car and paying off any negative equity and then having to go out and get another car loan to get another car (or even just buying a beater)?
-Matt
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post #7 of 33 (permalink) Old 11-05-2008, 03:29 PM Thread Starter
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Re: What to do when wanting to sell useless crap?

If I was able to sell my car for the high price of $16.5k I would lose about $2.2k and all the money in the mods. I would be able to drive my g/f's car if it was storming really bad or snow was on the ground. Her mom has two cars so she could use one of them for a couple days and I could use hers if things got bad enough. I would say it would cost me roughly $3k to get a fairly reasonable beater and add in insurance and that's roughly $3.5k. So in one year I would be out roughly the amount of money I would save in one year. If I sold the car for $13k with no mods I would take a much bigger hit, but would also probably make $1500 tops for all my mods. Have mint 18" Enkei wheels with tires, Pioneer Avic D3, and full nos system with all accessories. I rather lose money up front then continue paying for a car I don't drive, but could hold on longer till the economy picks up some. I'm in a tight spot, because I would rather save more money so I could alleviate some credit card debt I have and start paying off my federal student loans.

LMFAO "oh i thought i didn't need that" i bet in your head you were like "go kick your mom in the ass for me when you get home " 08mazda2.0
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post #8 of 33 (permalink) Old 11-05-2008, 03:54 PM
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Re: What to do when wanting to sell useless crap?

Well maybe try swinging by a car max if you have any out your way and get a quote from them. See if you can get two quotes, one as is and one if you returned your car to stock (if they'll quote that to you without you having already done that).
-Matt
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post #9 of 33 (permalink) Old 11-05-2008, 03:59 PM
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Re: What to do when wanting to sell useless crap?

Try Vehix... never used it but they advertise a lot and have good traffic without much spam


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post #10 of 33 (permalink) Old 11-05-2008, 04:06 PM Thread Starter
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Re: What to do when wanting to sell useless crap?

[quote author=azazel1024 link=topic=127609.msg2724761#msg2724761 date=1225918440]
Well maybe try swinging by a car max if you have any out your way and get a quote from them. See if you can get two quotes, one as is and one if you returned your car to stock (if they'll quote that to you without you having already done that).
-Matt
[/quote]

Is there a way to sell it back to the dealer without hurting your credit score? I'd be willing to pay some the difference if the offer was pretty good. I have a really good credit score, but I just don't want a car payment of this calibur and full coverage insurance that is costing me $150/month. I wouldn't mind getting into something cheaper that I could pay cash for, but I know that won't happen at a stealership! Unfortunately, we don't have any carmax's in my area .

LMFAO "oh i thought i didn't need that" i bet in your head you were like "go kick your mom in the ass for me when you get home " 08mazda2.0
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