Should we sell it.......

[momrek06]

DH & I are closing our MA engineering business due to the economy. We have moved to CA (one year ago) where DH was offered a fab engineering job. We are selling everything related to the MA business.

We have a 2008 Chevy Express Utility Van. We paid $18,000.00 for it in Dec 2007. We owe $14,500.00 on it today. The Chevy dealer will take it back for $13,000.00 and of course we will have to give them the difference of what is owed on it. It has low mileage and is in mint condition.

Should we sell it to them OR hold off and keep paying our monthly payment of $320.00 until someone offers us more...........

Thought I would get opinions of the DISer's!

TIA!

 

[mrsv98]

I would take it to Carmax and see what they will give you. We have had very good experiences with them and they have always been above the dealer price.

Is it a business car? Could you write off the loss? I dont' know much about commercial taxes so it is just a guess you could.

 

[trip]

Do you think you can sell it in 5 months? That's how long it would take you to break even with what the dealer is offering. Not counting any insurance and taxes you may be paying.

 

[momrek06]

I would take it to Carmax and see what they will give you. We have had very good experiences with them and they have always been above the dealer price.

Is it a business car? Could you write off the loss? I dont' know much about commercial taxes so it is just a guess you could.

Yes, it is the Van we used exclusively for the business that we are closing.

Do you think you can sell it in 5 months? That's how long it would take you to break even with what the dealer is offering. Not counting any insurance and taxes you may be paying.

Well, DH is headed back to CA on Saturday. He has been in MA for 7 days wrapping up allot of loose ends....he spoke with other Chevy dealers and they said $11,000 and another said $12,000.........

We do not plan to return to MA until August.

 

[The Mystery Machine]

What is the private party value? It sounds like a pretty good deal however I don't know your stats. You can input here.

http://www.kbb.com/KBB/UsedCars/2007_Chevrolet_Express Van_Private Party.aspx

 

[momrek06]

What is the private party value? It sounds like a pretty good deal however I don't know your stats. You can input here.

http://www.kbb.com/KBB/UsedCars/2007_Chevrolet_Express Van_Private Party.aspx

Thanks for posting that site.....hmmm, we are guessing the Chevy dealer will probably sell it for like $16,000. Chevy dealer did tell DH he already has a load of Chevy Vans on his lot he is trying to sell.

I am not sure what the private party value is for it.

 

[The Mystery Machine]

Thanks for posting that site.....hmmm, we are guessing the Chevy dealer will probably sell it for like $16,000. Chevy dealer did tell DH he already has a load of Chevy Vans on his lot he is trying to sell.

I am not sure what the private party value is for it.

That is the private party value, just input the numbers. I already put it to the van. I don't know all your details.

 

[dnoyes]

You can look at all the book values you can find and it wont change what it's worth.

I've been in this business for 25 years and can tell you that Cargo vans are a dime a dozen all over the country. I'd take the $13,000 and run.

 

[momrek06]

You can look at all the book values you can find and it wont change what it's worth.

I've been in this business for 25 years and can tell you that Cargo vans are a dime a dozen all over the country. I'd take the $13,000 and run.

Ahhh...just the post I was HOPING for!!!!!!!! Yup, we will take that offer, cancel the insurance and MOVE ON.

Thanks!

 

[friendofgusgus]

Sell it - you don't want the offer to expire and be stuck with it.

Then you'd have to drive it there and pay for the emissions upgrade (it will not pass California Emissions testing) which is more than $1500 on that type of vehicle.