I have a 2006 Honda Odyessy that I am financing and I want to use my home equity to pay it off and then sell it once I get the title. However, I don't want to get stuck with it if I can't sell it because I want to repay my equtiy line with the proceeds of the car. Do you think I will have a hard time selling this car? Do people buy cars privately for that much money????
The van is basically in showroom condition..
2007-02-23 05:54:57 · 7 answers · asked by Rolly 2 in Cars & Transportation ➔ Buying & Selling
The Honda is worth 26K according to Kelly Blue Book under private pay. It's an EX all leather power, etc...
2007-02-23 06:32:26 · update #1
Why would anyone give you $26k for a used one when they can buy a brand new 2007 for the same price?????
2007-02-23 06:14:14 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Anything is possible. That being said, I wouldn't touch the equity in the home to repay an auto loan. That's counter-productive and not a recommended practice. I'd sell the vehicle and repay the auto loan, without touching the equity.
2007-02-23 06:01:49 · answer #2 · answered by Kiffin # 1 6 · 0⤊ 0⤋
Near to impossible since most people would have to take out their own loan to purchase it. Most people would rather buy new, get financed and have a warranty for what pretty much is the same price of an '07.
2007-02-23 07:50:19 · answer #3 · answered by Lisa P 4 · 0⤊ 0⤋
If you are trying to sell it for $26,000.00, you will have a very hard time selling it. The market report is 2006 Honda Odyessy LX with average of 10,700 miles is selling for $20,400.00
2007-02-23 06:18:31 · answer #4 · answered by $1,539,684,631,121 Clinton Debt 6 · 0⤊ 0⤋
The higher the price of the vehicle the harder it is to sell.
When they (the buyer) can go to a dealer and even get a warranty, are you willing to give that ?.
As a USED vehicle, You had better get it appraised, or look on blue books web site to get an idea of the value first.
2007-02-23 06:17:01 · answer #5 · answered by vette84 3 · 0⤊ 0⤋
With something like that, I would recommend trying to find a consignment dealer. Several, including http://www.diffee.com , do consignment for people. You tell them what you want to sell it for, then they mark it up $X (usually $200-$500) and sell it for you. The bad part is, you have to leave the car there for them to show it.
Online, there is http://www.autotrader.com , http://www.cars.com , and http://www.usedcarsonly.com that help people sell cars online for a price.
Hope it helps.
2007-02-23 08:37:37 · answer #6 · answered by Diffee F 1 · 0⤊ 0⤋
Very hard, but try posting it on websites and ebay and craigslist
2007-02-23 06:02:14 · answer #7 · answered by ? 2 · 0⤊ 0⤋