Selling my 07 se link....

[gf07camry]

Originally Posted by 98CamryLE

Holy cow! You still owe nearly $28,000 on a 2 year old car? You aren't going to get anywhere near that if you sell it. If you can actually find a buyer, you'll be lucky to get $22,000. With today's market- you might have to lower your price even further, possibly below the $20,000 mark.

If I were you, I'd keep paying off your current loan- at least until you aren't upside down on it- and then perhaps, consider trading it in or buying a new car. In a perfect world, you should pay it completely off before thinking of getting anything else.

I'm not trying to be mean, cruel, or lecture you on finances- but if you take a loss on this car, and then take out another loan for your next vehicle, you'll be even more upside down on your next loan. (If a lender will give you a loan like that right now)

Good luck, and I hope you do find a buyer.

(P.S. Your post here violates forum rule #8: No double or cross posting.)

I thank you........

[Yazovets]

Originally Posted by gf07camry

LOL $28000 for a 2 year old car?! Now this is the BS I am talking about..... I disagree with you it does make a diffrence if your car is in good or bad condition......... and the warranty is for another 6 years.. I think you would be selling yourself short @ 20k.....

PLz post helpfull info.......

Thank you

It's not BS at all actually. It's the changing market conditions. I'm not out to get you - I'm just trying to give you a reality check.

Good or bad condition won't impact the price as much as the actual age of the vehicle. And extended warranties are NOT accounted for in trade-in appraisals either.

You want me to post helpful info? Here is some:

Another member also suggested you might get $20000 or even below this.

I have been trying to get rid of my Camry as well actually. Like your car, mine is in good condition but this does not matter because I've been consistently quoted trade-in numbers around $15000. I'm sure I could negotiate something better if I was really serious to buy a new car from the same dealer but that's simply what these cars will net. I owe roughly $16000 on my car, and it's most cost effective right now to keep on driving the car otherwise I'll take a loss on the trade. You should consider the same.

Don't forget that between 2007 and now, Toyota has also lowered the MSRP and/or included additional features as standard. This further de-values our 2007 cars.

My FRIENDLY advice is: if you want to get something above $20000 for the car, you will have to sell privately and it will take time.

Also with our old 2004 Mercedes ML500 SUV we had a similar issue. Here is a fully loaded, V8-powered Benz which cost nearly $70000 when it was new. Problem is we ran out of warranty so we started to sell it. We now bought a new 2008 ML-Class but we got $18000 trade in only for the 2004 Benz. Cars depreciate like mad now cuz nobody wants the used ones. The trade-ins all go to auction anyway. And we spent 3 months researching and getting trade-in appraisals in several cities.

[CamrySExxx]

^ That's why buying used now-a-days has its benefits, unless you want your car to be NEW, original owner blah blah, you can save a TON buying used.

And i agree with yazovets... I was just thinking to my self... our 07 I4 Camry was 38k after tax and what not... not even two whole years later i bet i can get tops 25k for that car...

[wireless]

Obviously you had some negative equity of your previous trade rolled into this car. If you are dead set on getting something else, you will put yourself into a deeper hole and so on. You either need to put some cash into the equation and get into a better equity position or just sit tight and pay down your loan. Even with the market conditions being as they are, your Camry's resale value will settle a little giving you time to catch up in terms of loan balance/car value.

[LXS-mode]

Originally Posted by dcemureviews

Well, he said thats how much he has left to pay off. But I agree, thats extremely high. That $27,000 is pretty much the amount I paid off my car in the 3 months I had it so far.

Wow baller! nice to have Rich Kid's in town

@yazovets

thats why people look for used cars coz its enormously ridiculous to buy a new one when you drive out of the parking lot it automatically looses 30% market value.


@GF07Camry

Good Luck on the Sell man. in the Real World no one will really buy a 2 year old car for the same price they can get a Brand New car. Good thing the bailout came across or people who want to buy new cars will have a hard time getting car loans.

my suggestion is sell the car Private party (this will increase your sell value rather than trade) and buy a Used car with a reasonable Price tag and get rid of your debt.

or in another way find another lender who will give you a lower interest rate. as simple as that.

[LXS-mode]

Originally Posted by dcemureviews

Well, he said thats how much he has left to pay off. But I agree, thats extremely high. That $27,000 is pretty much the amount I paid off my car in the 3 months I had it so far.

Originally Posted by dcemureviews

HAHA true. Winter is coming up so the exhaust may have to wait until next year. Want to pay off the $13,000 finance I have left by end of year and see how my money situation is. Hoping to get the TSX retro done before it starts to get cold.

We have a Sarah Palin here!

[njerald]

Originally Posted by janfrancis

We have a Sarah Palin here!

Good, we need her and many more like her..........

I'm surprised you even spelled it right.........

[bandit]

Originally Posted by janfrancis

Wow baller! nice to have Rich Kid's in town

Rich kid? HAHAHA. I wish I was a kid. Its called money management, working hard for my salary and spending money wisely. I pay everything on my own without the help of my parents.

Granted, I still live at home with my parents but with today's economy, I dont mind. I rather live at home with my parents, have no debt and save up money for a house rather than be on my own, pay monthly rent/bills and be in debt. Hell, I wouldnt have been able to pay off my St John's Univ. student loan.

Originally Posted by janfrancis

We have a Sarah Palin here!

I dont follow all this political stuff so I dont know what you said is a good thing or bad thing.

Originally Posted by njerald

Good, we need her and many more like her..........

I'm surprised you even spelled it right.........

MILFs?

[LXS-mode]

Originally Posted by njerald

Good, we need her and many more like her..........

I'm surprised you even spelled it right.........

Did you get the Lexus Emblems at ebay?

I don`t use the spell checker here. Didn`t even know it existed.

and BTW thanks for the TSB listing on about ECU recal. for smoother shifting.

[LXS-mode]

Originally Posted by dcemureviews

I dont follow all this political stuff so I dont know what you said is a good thing or bad thing.

MILFs?

Nevermind man!