I'm thinking about selling my '05 AT w/ 10k on the odometer for a '06 MT (I know I'm an idiot it's practically brand spanking new, biggest regret I've made is not getting the MT from the start). How does it work if I'm still making payments on the car? Would I lose a lot of money? What do you all recommend? Any personal experiences? Is it worth it? Thanks in advance!

Any offers?

 

Prepare to be ripped a new one. I traded in my 04 AT for an 04 MT with roughly the same mileage. Cost me $1100.

You may be better off selling privately.

 

Uh, well, basically you have to pay off the balance of the loan. So if you can sell your car for enough to do that, then you won't owe anything extra; if not, you still have to pay the balance. Pretty obvious.

 

You may well be able to get the balance of your old loan (minus your trade-in value) transferred to the new loan if you do a trade-in though. If you don't want to sell privately you can ask your dealer about that.

Selling privately will vastly increase the chance that you end up above water on the loan. According to Edmunds, but an 05 silver AT+nav (had to guess on some of the details you didn't post) in my zipcode (Northern VA) should get a $21.8k tradein or $23.2k from a private party. Figure out what you still owe on your loan -- if it's more than you can expect to get back from the car, you can tack the difference onto the price of a shiny new 06.

 

just dont get upside down on your loan

 

Im in the same shoe..my biggest regret. I have decided to hell with it...and buy the 06 MT Navi by the end of April...after I deal with Uncle Sam.

But my corcern is the 2008, will Acura put a Turbo? Sports 4? ...but then its life...

 

Im going through similar thing right now, except the car im selling is an '05 Scion TC. I owe $10500 on it. All toyota is interested in is getting a check from me for that amount. So if I sell it to a private party for 14k, I will pocket $3.5k and give the rest to toyota. If I trade it in for 14k, I can either get the remainder as a check or apply towards a brand new TSX AT w/ Navi.

 

1) I did it before, and its not worth it, especially if you are upside down on the loan, dont be a sucker

2) even if u own more than owe, thnk of the value u will loose when trade in and all the new tax and charge and everything that will be tagged onto the new car, you will owe more. If you really gotta owen, get an IS or G or something... most up some more

 

You don't seem to be in a rush sin you are still in the thinking stage, so why don't you just put a for sale ad out there and see what you can get. 9 times out of 10 you're gonna get the higher dollar amount with a private sale.