Shall I sell it now or drive for another year?

15

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

5 Answers

8,515

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.
198,505

Find out what the payoff would be, check the going prices around your area for what they are selling for and see if you can make a profit by selling it yourself, some places do have other fees for early payoff, so make sure you cover your bases. Or if you just want out you can advertise it to take over payments, then your totally done with the car.

2 people found this helpful.
15

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

1 people found this helpful.
260,615

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

1 people found this helpful.
725

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.

Your Answer:

C-Class

Looking for a Used C-Class in your area?

CarGurus has 1,823 nationwide C-Class listings starting at $3,090.

Postal Code:

Mercedes-Benz C-Class Experts

  • #1
    Lorne Grandison
    Reputation
    8,660
  • #2
    PPC123
    Reputation
    4,620
  • #3
    zabi
    Reputation
    4,130
View All

Find great deals from top-rated dealers

Search

Related Models For Sale

Used Mercedes-Benz E-Class
54 Great Deals out of 843 listings starting at $4,998
Used Mercedes-Benz CLA-Class
28 Great Deals out of 586 listings starting at $15,999
Used BMW 3 Series
216 Great Deals out of 2,568 listings starting at $2,495
Used Mercedes-Benz S-Class
13 Great Deals out of 251 listings starting at $7,900
Used Mercedes-Benz CLS-Class
12 Great Deals out of 166 listings starting at $6,980
Used BMW 5 Series
57 Great Deals out of 663 listings starting at $2,966
Used BMW M3
12 Great Deals out of 72 listings starting at $9,999
Used Ford Mustang
45 Great Deals out of 1,845 listings starting at $5,750
Used Audi A4
82 Great Deals out of 1,021 listings starting at $1,995
Used Dodge Charger
56 Great Deals out of 922 listings starting at $4,900
Used BMW 4 Series
62 Great Deals out of 589 listings starting at $17,888
Used Mercedes-Benz CL-Class
17 listings starting at $7,499

Used Cars For Sale

2018 Mercedes-Benz C-Class C 300 4MATIC For Sale
80 listings starting at $31,500
2017 Mercedes-Benz C-Class C 300 4MATIC For Sale
4 Great Deals out of 46 listings starting at $25,950
2016 Mercedes-Benz C-Class C 300 4MATIC For Sale
8 Great Deals out of 121 listings starting at $22,910

Content submitted by Users is not endorsed by CarGurus, does not express the opinions of CarGurus, and should not be considered reviewed, screened, or approved by CarGurus. Please refer to CarGurus Terms of Use. Content will be removed if CarGurus becomes aware that it violates our policies.