mdx is 3 months old with slight scratches at the rear door. driven for 2500 miles|||MDXs (unfortunately) do NOT hold up well in the books. If you only bought it 3 mo nths ago, you are likely well upside down too. did you put any cash down? did you trade in a car you were upside down on?
If you answered "no" to 1, and "yes" to 2, you are an owner for the long forseeable future
go to www.kbb.com - look up the TRADE IN value for your car - and evaluate it as being in average condition. then take $2000 off that and you will have approximately what your car is worth on trade.
EDIT - ah if it is a 2008, go to Edmunds.com and build an invoice for your car. Then deduct abouut 20% off invoice. That will get you close to the trade in value.
The problem with trading a current-year car is that the depreciation is greatest in the first year. As a buyer, there has to be a financial incentive to purchase a pre-owned 08 with 2500 miles and scratches. So, the resale value needs to be under current new value, therefore the big hit on first-year depreciation.
I know gas is high - but you will be taking a HUGE financial hit to sell out of the car now. The loss of value is biggest at this point.
Taking into account the difference in fuel economy, price of gas, and miles you drive, how long will it take you to break even, and recover the financial loss?
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment