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Honda Civic 2007 Lx help?

Is it apt to sell my Honda Civic 2007 now?

  • Hello friends, I bought a 2007 Honda Civic Coupe LX in Mar'07 and now it has close to 31,000 miles. I still have a $10,500 loan on it. My purchase price was close to $19,000. I am planning to sell the car now but unable to decide whether I am making the right decision. I checked the market price on KBB and it shows -close to $14,500. So, Is it good to sell it now and make around $4K or sell it after I have cleared the loan amount? How much will I make in both cases? I know that I will be paying more on Car Insurance these 2 years... so Is it worth keeping the car for 2 more years? Please share your thoughts and help me decide.. Appreciate everyone's effort..!!! Thanks.

  • Answer:

    Just check Craig's List in your area. Research what the car sells for and figure out whether or not you can sell it for a profit. KBB isn't dependent on the market. It's based on number of miles, condition of the car, and year of manufacture. It'll be tough to sell it for KBB value unless it's in great condition. Remember, buyers are always trying to save money while you, the seller, is trying to make money. It's not gonna be so easy. If you want an honest opinion... sell your car, pocket the cash, and get a used car. Buying a new car isn't all it's cracked up to be. With a loan, you end up paying way more than the car is even worth. Think about it - after owning the car for a year and a half, the depreciation is almost $5000. Get a used car in good mechanical condition and use the money to open a savings, money market account, or buy some bonds. If you're that concerned on making a profit, don't gamble on new cars. Always buy with cash if you can. It's the only way to make money.

rajubhay... at Yahoo! Answers Visit the source

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Other answers

why sell it hondas run forever and civics r good for gas. gas sippers r high in demand so it will sell no matter what you do what you should think on what you will drive now. keep it till it dies (15 years)

danmansut903

SELL SELL SELL SELL SELL

charlie

well if I was you, I will think about the situation. do you still love the car or your taste and love for it is gone and second do you have a second car that you can use for transportation. well since you had that in mind, here is my opinion, first of all, if i were you and I have another gas sipper like your CIVIC, probably than I will sell it but the question is why sell it? its Honda and it meant to last forever. if you going to sell it. you should at least get 16000 for it because you only had it for a year and 8 month so because that car is still new only depends on how you took care of the car, did you change the oil regularly every 3K miles, did you wash it and kept the interior and exterior clean, did you not had an accident with the car. so if the car still in a perfect and excellent condition than you should get more than KBB estimate. like the guy above said, KBB only determine the condition of the car and the mileage and the year so don't depend on that, sell it privately. if I were you, I'll keep that car and think carefully about it, you had it for less than two year and you paid off over $8500 on your loan, now do you want that 8K grand to go for nothing only for two year or just finish up the car in about less than 2 year and you have the car completely yours and you own no body than you can trade it in after you paid it off and get a new car or sell it for like 14K and keep the money. so its your choice but for me I will keep the car if I can afford to pay it off in time because it will be a waste, wasting half of the car loan for just two year. so keep the car and don't EVER take it in for trade until you paid it off because the dealers sell person will confuse you and make you sign another contract which will put you way deep in Debt and start another 5 to 6 year contract. keep that in mind. well I hope this help and good luck with your decision. enjoy.

Francise M

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