The loan is a 5-year. When (under what conditions) can I sell the car to redeem all expenses and even cash-in on a down payment on the new Rabbit?
2006-07-08 20:48:38 · 3 answers · asked by Cameron-Yi 1 in Cars & Transportation ➔ Buying & Selling
Fact: vehicles depreciate , usually quicker than you can pay them off
Fact: the value of your vehicle is based on; year, make, model, options, condition, miles, etc
Fact: your loan balance has nothing to do with your vehicle's value.
Therefore, if you are at the point where your loan balance & vehicle value are equal.....sell it ..pay it off ...& start all over again. Waiting for equity, might not ever come, since your vehicle keeps on depreciating.
2006-07-09 04:04:43 · answer #1 · answered by Vicky 7 · 1⤊ 0⤋
your car is worth 8500 less than when you purchased it to any dealer. Reason is they need to make money and the customer always pays. As a trade in you probably get offered 2000-3000. My advise sell it private, and buy an American made car, that includes some foreign brands too. Reason the price would be much more affortable, the warranty on the vehicle would be much beter than 60,000 for a VW, and when you trade in the future you wont feel like you got riped off.
2006-07-09 04:27:59 · answer #2 · answered by wiseornotyoudecide 6 · 0⤊ 0⤋
i dont know
2006-07-09 04:07:38 · answer #3 · answered by Craigs Wife 3 · 0⤊ 0⤋