[wcarty]

I took my 2002 camry LE to Carmax to be apraised and they offered $6500 for it.

the cars interior and exterior are in good condition for an 02. I do drive alot so the miles are kinda high (91,500).

Does this seem like a fair offer?

Would a toyota dealership offer more?

I curretly owe about 12,300 on the car so I realize I would have a negative equity situaiton.

I would like to get a new matrix or possible a new camry.

by the time I pay this one off (2009) it will probably have over 200 miles and have next to no value.

thanks for any input

 

[geoff5093]

I would keep it and run it into the ground. Why would you pay around 20K for it and then sell it a few years late for only 6K?

I have a 1994 Camry (V6 XLE), with 135K and I can get $3500 for it from one dealer, but could probably sell it for $4K if I wanted.

 

[wcarty]

thats probably what I will end up doing anyway, I have a wedding to pay for!

 

[ghettosled]

congrats on the wedding!

how much did you pay for the car in the first place if you still owe $12 grand???

about a year and a half ago i bought my '96 camry with 96k miles for $3900 from a dealer.

 

[alotawatts]

Carmax is buyer/broker right ? It should be worth more than $6500... If it is in good to excellent condition. You did not say if it's 4 or 6cyl, manual or automatic , 1 owner etc.
plug your info in one of these sites for a general idea. Where you live makes a price difference too.

Edmunds.com /used cars / TMV /
KellyBlueBook
Microsoft

 

[triggerhappy007]

I agree with keeping it. I don't know why people always think they need a new car after a few years. It's a waste of money. Your APR is probably somewhat high. If you can, pay off the loan early. Congrats on the wedding.

 

[wcarty]

Thanks for the input guys,

The camry is a 4 cylinder, I got it used over a year and a half ago.

I am definitely a CAMRY fan I owned a 92 SE 6 cylinder 5-speed and it was an great first car. It was starting to nickle and dime me to death with repairs and the AC stoped working. The car was a blast to drive especially with the 5-speed. I just couldnt go through another summer with no AC! I had that "I need a new car syndrome" and I got my current camry LE (auto) and its a great car but it just dosent have the fun factor that my other camry had.

Also I enjoy camping, paintball and other outdoor activities and even though the camry holds alot of cargo a vehicle like the matrix would probably suit me better

well I regarless of all that I will probably stick with what I got, me and my fiance are going to look into getting a new car together when she gets rid of ther piece of crap saturn!

 

[02whiteLE]

I sold my '02 Camry LE with 85,000 miles on ebay. It went for $10,800. Keep the Cam. It may be worth next to nothing when you pay it off, but that's a long time to go without a higher car payment.