I have two cars ..2011 Hyundai Genesis 4.6 (26k miles), 2008 Chevy Tahoe (85k miles)..Both have full warranties up to 100k+ miles.
Tahoe is paid off.
Genesis I owe $18786 which I am paying off at 3.15 interest at $1008 a month (actual payment due is half that. I am making doublepayments..payoff 7/15)
KBB says Genesis is worth $25600 if I sell it myself. instant offer (same website) gave me an offer of $18,900.
I have two cars because one was bought in part for the snow (Tahoe) and because I ran a not for profit which I am closing next month (Tahoe was paid for in part by the not for profit).. I need the Tahoe (4x4) but the Genesis gets better gas mileage.
So.. been kicking myself for a while here having this big expensive non 4 x 4 car.. and these loan payments are high... wanting out of them. I have mixed feelings w selling the Genesis as the Tahoe is older and the Genesis gets so much better gas mileage. I had to use the 4x4 function last week due to snow though. I have been tossing around selling the Genesis for a while and have been hanging out to it in my indecision.
I owe $18k on the Genesis. if the house offer goes through I will have more incentive to let it go .. esp if I need cash... jusst wish I did not owe so much on the Genesis!
I plan to keep both long term and keep them well maintained.
Question/rant-Sell the car?