to sell or not to sell

[preddy brian]

Hey guys, I need some advice. I have a 2009 Touring blue color with 22k miles. It has premium running boards with lights, 2.5 years/38k miles left on factory warranty that was purchased with Pilot. Book value says it is worth something like $31,800. My question is, is $30,000 - $31,000 reasonable price to sell at? My wife ssays if we can't get $30k we'll keep it.

[N_Jay]

Why do you want to sell?

[preddy brian]

We could sell it and pay some things off and get a new one in the next 6 months or so. Thats what we did with our 05 pilot when we bought this one. We really like this Pilot, but want to get somethings paid off and redo our bathroom. Selling it will give us enough money to do that because of how much we owe on it. We would definately get another new Pilot.

[jl_ss]

Edmunds is showing a trade value of $26.2K and a private sale value of $27.8 for a 4wd 2009 Trg with 22K miles in outstanding condition. Running boards don't really add to the value. A quick search of cars.com in the Cincinnati Ohio zip code (not sure if that is where you are or not) shows the highest asking price listing for the same vehicle is for a CERTIFIED Used 2009 Trg with 34K miles for $28,900 with a clean carfax report. So I would say you are not going to break $30K.

[mike_engr]

I agree with your wife. Try to sell it. Maybe you will find a highly motivated BUYER. If you don't get a high enough offer then keep it.

FYI: in Oct I bought my private party '09 2WD Touring with under 17k miles for under $29k, but prices depend on the local market, the sellers motivation, and maybe your Pilot is 4WD?

[xGS]

If you're near a CarMax location (Cincinnati, Columbus or Dayton), see what price they would offer you for it.

[rocky]

If you are valuing it as I think you are at the price being asked by dealers, then you need to know that's not why you will get unless you get lucky. Throw it up on Craigslist locally with a few good pictures and see what happens. Hope you get lucky!

[N_Jay]

I don't see how selling and then buying another gets you ahead financially.

[jl_ss]

Originally Posted by preddy brian

We could sell it and pay some things off and get a new one in the next 6 months or so. Thats what we did with our 05 pilot when we bought this one. We really like this Pilot, but want to get somethings paid off and redo our bathroom. Selling it will give us enough money to do that because of how much we owe on it. We would definately get another new Pilot.

Sounds like you are trying to pull money out of the vehicle to do other things and buy another vehicle with less down and a higher payment. If you sell and rebuy you get to pay sales tax twice (original and re-purchase). However, there are banks/credit unions that will refinance your current vehicle. Usually your original lender will not refinance the original loan. I assume you do not want to or can't do a home equity loan. There may be some fees in the origination of the new auto loan, but probably not equal to sales tax.

[xGS]

Another question is what will you be using in its place for the "next six months, or so"?
If the answer is nothing, then do you really need two vehicles?

[preddy brian]

Yes our Pilot is 4wd. If we can get $30k out of it, we can put @ $13k towards other things. We only kept our other Pilot @ 3.5 years and did the same thing and made abot 7k on it. I work for Honda and do get somewhat of discount on new purchase. We are thinking of the craigslist (sold many other cars on it) If we don't get what we want we will keep. We really like it. Tahnks all. May put add on craigslist later this week.