Shall I sell it now or drive for another year?
15

Asked by Jashou Feb 15, 2016 at 01:14 AM about the 2013 Mercedes-Benz C-Class C 300 Sedan 4MATIC

Question type: Shopping & Pricing

Hi,
Let me tell you my current situation first.
Last year I bought a 2013 Mercedes Benz C300 Sports 4Matic CPO 22K
miles from MB dealer for 28K+Tax (roughly 30K) and put down 5K so
financed for around 25K.

After a year,
I paid 386/month and now currently have about 22K remaining in payment.
My mileage is around 28K (I barely drive..)
I am trying to get rid of the car since I'm regretting and trying to get a
bigger midsize reliable car which lasts for 10+ years (considering Accord,
Camry, etc) It was a stupid impulsive purchase...which was actually caused
by my frd..

SO,
I went to carmax and they offered me 21K,
Most dealers (I went about 5) offered me between 18K ~ 20K,
I'm looking for cars around 15~17K used (2013 Accord, 2014~15 Camry
comes into this range)

BUT,
since its upside down (which I panicked,, i mean it dropped 7K in a year)
do you guys think i should just get out now?
meaning pay 1K to carmax and get 15K ~ 17K a car NOW
OR
if i do the math my remaining payment will be roughly 17.5K by next year,
so will my car value drop to maybe 19K (in  carmax)
and change the car next year with a bit of positive equity

I just cant make up my mind right now.

in short,
either pay 1K and get out now and buy a car or wait 1 year and HOPE the
value wont go down that much or at least equal to the remaining loan at
that time and then buy a car (that's of course assuming I have no accident
or any issue)

Please someone give me an advise :(

4 Answers
11,645

Mark answered 8 years ago

Its all about the money here - you need to make the decision - one option you could look at that you didn't mention is selling the vehicle yourself - if you did, you would be able to sell it for a profit and apply that to the new purchase

5 people found this helpful.
Mark helpful
15

Jashou answered 8 years ago

Thanks all, I decided to keep it for 1 more year and see how it goes..

1 people found this helpful.
Mark helpful

F_O_R answered 8 years ago

Dealers give you bottom dollar for trade-ins. You might break even if you sell it private party.

1 people found this helpful.
Mark helpful
845

garenad answered 7 years ago

If u keep it 4 another year make sure that u have a good technician to maintain assuming that u have no obligation to go to the dealer 4 maintenance.

Mark helpful

Your Answer:

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