Should we sell our 2020 SUV?

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phinanciallyfit
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Should we sell our 2020 SUV?

Post by phinanciallyfit »

We bought a new SUV right before the pandemic hit and we regretted it pretty quickly. It isn't a bad car, but I think we should have done a bit more research. We have a loan for the car, which is a 4-year loan ($850/month) at 0.9%. Now with prices for used cars so high, we are wondering if we should take advantage of the situation and sell the car. The problem is that we'd have to commit to not having a second car for a while, because we likely would have to pay too high of a price for a new car. I imagine we'd want to get a second car in a year or so, but it would not be the same vehicle as this one (I'm not even sure what it would be).

We are mostly okay with being a 1 car family for now, but our other car is a honda civic. We have 2 kids (in carseats) and a medium size dog, so if we all wanted to go somewhere (like hiking) it will be tight (but doable). In the day-to-day, we really don't go to many places all together. The kids' schools are nearby and even if I decide to go into the office (I won't have to most of the time), my husband will not need to (he was remote even before the pandemic). We like to camp, but I think we could rent a car for the few weekends where we are planning to do this.

Is there anything I'm not thinking of with this situation? Would you sell and hope prices on new/slightly used cars come down in a year or two? I doubt I'd get a raise if inflation goes up (higher ed isnt generous on this front), so we may end up paying a lot more for a car. But of course, this is speculation, who know what will happen. Thoughts?
manuvns
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Re: Should we sell our 2020 SUV?

Post by manuvns »

how much you paid for it( including TTL) and how much will you get when you sell ? if you only make 1-2k it might not be worth it .
Topic Author
phinanciallyfit
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Re: Should we sell our 2020 SUV?

Post by phinanciallyfit »

We would probably get about the same amount as our loan which included tax, interest, and a warranty (interests low, but not all would need to be paid when we paid off the loan early). I'm not sure if we'd get money back for the warranty or if it is transferable. So basically, we'd 'earn' back all our past payments. I haven't gotten an official quote, but did look at comparable cars on carvana.

I'm not really looking at this as a way to make money, but rather an opportunity to undo a decision, just not sure of the cost that may incur down the road.
livesoft
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Re: Should we sell our 2020 SUV?

Post by livesoft »

When you sell a car, you may have to pay sales tax, but certainly when you bought the car the seller collected sales tax from you.
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hudson
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Re: Should we sell our 2020 SUV?

Post by hudson »

phinanciallyfit wrote: Thu Jun 10, 2021 11:07 am We bought a new SUV right before the pandemic hit and we regretted it pretty quickly. It isn't a bad car, but I think we should have done a bit more research. We have a loan for the car, which is a 4-year loan ($850/month) at 0.9%. Now with prices for used cars so high, we are wondering if we should take advantage of the situation and sell the car. The problem is that we'd have to commit to not having a second car for a while, because we likely would have to pay too high of a price for a new car. I imagine we'd want to get a second car in a year or so, but it would not be the same vehicle as this one (I'm not even sure what it would be).

We are mostly okay with being a 1 car family for now, but our other car is a honda civic. We have 2 kids (in carseats) and a medium size dog, so if we all wanted to go somewhere (like hiking) it will be tight (but doable). In the day-to-day, we really don't go to many places all together. The kids' schools are nearby and even if I decide to go into the office (I won't have to most of the time), my husband will not need to (he was remote even before the pandemic). We like to camp, but I think we could rent a car for the few weekends where we are planning to do this.

Is there anything I'm not thinking of with this situation? Would you sell and hope prices on new/slightly used cars come down in a year or two? I doubt I'd get a raise if inflation goes up (higher ed isnt generous on this front), so we may end up paying a lot more for a car. But of course, this is speculation, who know what will happen. Thoughts?
It depends on your income. The $850 per month would give me massive heartburn. If you have plenty of income or assets, keep it.
Maybe put an attractive price on it and put it on the market.
Maybe replace it with another used Civic? I would have a hard time sharing one vehicle.
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lthenderson
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Re: Should we sell our 2020 SUV?

Post by lthenderson »

phinanciallyfit wrote: Thu Jun 10, 2021 11:07 am It isn't a bad car... we regretted it pretty quickly.
Why?

I drove a Honda Civic for 22 years and wouldn't want to be saddled with just it with a family of five including the dog, especially with kids in car seats. Right now, there is no telling what is going to happen to the car market in the immediate future. Most experts say it will take until next year for the chip shortage to work out. I think it will take much longer than that for the market to stabilize as people needing vehicles will be snapping them up as they arrive for awhile after that.

You have a vehicle that meets your needs and "isn't a bad car". I wouldn't roll the dice on this one.
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Watty
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Re: Should we sell our 2020 SUV?

Post by Watty »

phinanciallyfit wrote: Thu Jun 10, 2021 11:07 am We like to camp, but I think we could rent a car for the few weekends where we are planning to do this.
Rental cars are in very short supply and very expensive when you can find one. People have posted about having a reservation for a car only to show up and find out that they do not have one in stock.
phinanciallyfit wrote: Thu Jun 10, 2021 11:07 am Is there anything I'm not thinking of with this situation?
...
Thoughts?
About a month ago I got quotes from CarMax and several others and the quote I got for a 2018 Corolla was for more than I paid for it, excluding tax and licence. The details are not important but I ended up trading it in for a new car so I basically got to use the Corolla for three years for free except for the normal operating costs.

It would be good to get some quotes from CarMax, Carvana, Vroom, etc to see what sort of price they are offering for your SUV.

What is the model of the SUV?

Some new cars still have a decent supply on dealers lots. If your SUV is in short supply and dealers have other cars in inventory then you might be able to work out a decent deal to trade in your SUV for and car you would like. At least in my state that would save you the sales tax on the trade in amount.
knowledge
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Re: Should we sell our 2020 SUV?

Post by knowledge »

What about selling the civic? At least that way you won't be capacity constrained by your 1 car.
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leeks
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Re: Should we sell our 2020 SUV?

Post by leeks »

If you don't like it, and can afford (and find in stock) whatever you would get to replace it, then just trade it in and replace it now with one you like better. Don't worry too much over any perceived loss of money. You still got use out of it since you bought it. I see no reason to keep it if you don't like it.
Last edited by leeks on Thu Jun 10, 2021 3:02 pm, edited 2 times in total.
delamer
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Re: Should we sell our 2020 SUV?

Post by delamer »

The Carvana retail prices aren’t going to be what you’d realize if you sold the car to them. You can get an estimare on edmunds.com for selling to a dealer. Or just contact Carvana directly.

Hsve you considered selling the Civic instead? It wouldn’t rid you of the monthly payment, but your one vehicle would be larger and newer.
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pshonore
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Re: Should we sell our 2020 SUV?

Post by pshonore »

delamer wrote: Thu Jun 10, 2021 2:59 pm The Carvana retail prices aren’t going to be what you’d realize if you sold the car to them. You can get an estimare on edmunds.com for selling to a dealer. Or just contact Carvana directly.

Hsve you considered selling the Civic instead? It wouldn’t rid you of the monthly payment, but your one vehicle would be larger and newer.
You can also get a "sell price"
https://www.carvana.com/sell-my-car?
UpperNwGuy
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Re: Should we sell our 2020 SUV?

Post by UpperNwGuy »

I would keep the SUV and sell the Civic.
sureshoe
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Re: Should we sell our 2020 SUV?

Post by sureshoe »

phinanciallyfit wrote: Thu Jun 10, 2021 11:44 am We would probably get about the same amount as our loan which included tax, interest, and a warranty (interests low, but not all would need to be paid when we paid off the loan early). I'm not sure if we'd get money back for the warranty or if it is transferable. So basically, we'd 'earn' back all our past payments. I haven't gotten an official quote, but did look at comparable cars on carvana.

I'm not really looking at this as a way to make money, but rather an opportunity to undo a decision, just not sure of the cost that may incur down the road.
If you're not happy with it and can dump a 1 year old car without losing money, I'd strongly consider it - especially if you don't "need" the car. $850/month is a lot of money for something you're not happy with.

I'm sure someone on here will prove me wrong, but if this thing is 1 year old, I still think you're going to lose money... right? Assuming you paid about $40k. I'm finding it hard to believe you're going to get that much on trade or selling online - the market isn't THAT insane is it? I was more curious and see a 2020 Honda Pilot EX-L for sale around $33k. so the initial 10-15% haircut is on that.

Anyway, I would dump it if I could do it and not get smacked, but I find it hard to believe you won't get smacked.
Broken Man 1999
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Re: Should we sell our 2020 SUV?

Post by Broken Man 1999 »

These type buy offers seem legit.

The Acura dealer has approached DD a couple of times when she has visited the dealership.

She has a 2018 Acura MDX, very nice SUV. It is black, I sure wouldn't want that color in sunny Florida, but a lot of people do.

I told her to ask them for a firm offer, that will determine if there is any serious offer on the table.

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lthenderson
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Re: Should we sell our 2020 SUV?

Post by lthenderson »

sureshoe wrote: Thu Jun 10, 2021 3:30 pm I'm sure someone on here will prove me wrong, but if this thing is 1 year old, I still think you're going to lose money... right? Assuming you paid about $40k. I'm finding it hard to believe you're going to get that much on trade or selling online - the market isn't THAT insane is it?
My brother sold his 2019 Camaro he paid $41k for brand new back to the dealer for $45k three days ago. It is now sitting on their lot listed for $51k. Until he told me this, I would have said the market isn't that insane too.
Topic Author
phinanciallyfit
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Re: Should we sell our 2020 SUV?

Post by phinanciallyfit »

hudson wrote: Thu Jun 10, 2021 2:33 pm
phinanciallyfit wrote: Thu Jun 10, 2021 11:07 am We bought a new SUV right before the pandemic hit and we regretted it pretty quickly. It isn't a bad car, but I think we should have done a bit more research. We have a loan for the car, which is a 4-year loan ($850/month) at 0.9%. Now with prices for used cars so high, we are wondering if we should take advantage of the situation and sell the car. The problem is that we'd have to commit to not having a second car for a while, because we likely would have to pay too high of a price for a new car. I imagine we'd want to get a second car in a year or so, but it would not be the same vehicle as this one (I'm not even sure what it would be).

We are mostly okay with being a 1 car family for now, but our other car is a honda civic. We have 2 kids (in carseats) and a medium size dog, so if we all wanted to go somewhere (like hiking) it will be tight (but doable). In the day-to-day, we really don't go to many places all together. The kids' schools are nearby and even if I decide to go into the office (I won't have to most of the time), my husband will not need to (he was remote even before the pandemic). We like to camp, but I think we could rent a car for the few weekends where we are planning to do this.

Is there anything I'm not thinking of with this situation? Would you sell and hope prices on new/slightly used cars come down in a year or two? I doubt I'd get a raise if inflation goes up (higher ed isnt generous on this front), so we may end up paying a lot more for a car. But of course, this is speculation, who know what will happen. Thoughts?
It depends on your income. The $850 per month would give me massive heartburn. If you have plenty of income or assets, keep it.
Maybe put an attractive price on it and put it on the market.
Maybe replace it with another used Civic? I would have a hard time sharing one vehicle.
The payment isnt a big deal for us. I would not say that we have a massive income ($170k), but we are saving 37% of our gross income and manage to live comfortably. We opted for a shorter loan term and higher payment because it gave us a low interest rate and we could handle it. It has not been a stressors for us.
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phinanciallyfit
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Re: Should we sell our 2020 SUV?

Post by phinanciallyfit »

Watty wrote: Thu Jun 10, 2021 2:50 pm
phinanciallyfit wrote: Thu Jun 10, 2021 11:07 am We like to camp, but I think we could rent a car for the few weekends where we are planning to do this.
Rental cars are in very short supply and very expensive when you can find one. People have posted about having a reservation for a car only to show up and find out that they do not have one in stock.
phinanciallyfit wrote: Thu Jun 10, 2021 11:07 am Is there anything I'm not thinking of with this situation?
...
Thoughts?
About a month ago I got quotes from CarMax and several others and the quote I got for a 2018 Corolla was for more than I paid for it, excluding tax and licence. The details are not important but I ended up trading it in for a new car so I basically got to use the Corolla for three years for free except for the normal operating costs.

It would be good to get some quotes from CarMax, Carvana, Vroom, etc to see what sort of price they are offering for your SUV.

What is the model of the SUV?

Some new cars still have a decent supply on dealers lots. If your SUV is in short supply and dealers have other cars in inventory then you might be able to work out a decent deal to trade in your SUV for and car you would like. At least in my state that would save you the sales tax on the trade in amount.
Good to know about rentals,. While it isnt critical, it is part of our safety net plan.

It is a Subaru Ascent. I dont find it as comfortable as I expected and since we usually keep cars a long time, I hate to think of having this car for 10 years or so. I find my back is sore after just driving an hour or so. I also had planned to use it to tow a small camp trailer (which we wont be buying for a few years due to the crazy trailer market) and now I worry that we may kill the transmission by towing often (this was a pre-pandemic plan, not a pandemic reaction). It is rated to tow 5k, but we rented a small trailer (about 2k lbs) and it really struggled with it.

I'll get actual quotes, but it does look like we may be able to get exactly what we paid, including taxes, title, registration, and warranty.
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phinanciallyfit
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Re: Should we sell our 2020 SUV?

Post by phinanciallyfit »

leeks wrote: Thu Jun 10, 2021 2:58 pm If you don't like it, and can afford (and find in stock) whatever you would get to replace it, then just trade it in and replace it now with one you like better. Don't worry too much over any perceived loss of money. You still got use out of it since you bought it. I see no reason to keep it if you don't like it.
This would require us to figure out what we actually want, lol. It may be the smarter option though.
anoop
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Re: Should we sell our 2020 SUV?

Post by anoop »

phinanciallyfit wrote: Thu Jun 10, 2021 5:42 pm This would require us to figure out what we actually want, lol.
Just follow this flow chart
https://www.aoamerch.com/product-page/u ... xe-t-shirt
manatee2005
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Re: Should we sell our 2020 SUV?

Post by manatee2005 »

anoop wrote: Thu Jun 10, 2021 9:53 pm
phinanciallyfit wrote: Thu Jun 10, 2021 5:42 pm This would require us to figure out what we actually want, lol.
Just follow this flow chart
https://www.aoamerch.com/product-page/u ... xe-t-shirt
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makingmistakes
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Re: Should we sell our 2020 SUV?

Post by makingmistakes »

You get to undo a decision you aren’t happy with and will be out nothing? And you can get by just fine without a second car while you do better research this time? Seems a no-brainer to me. I’d sell in a heartbeat.
gator15
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Re: Should we sell our 2020 SUV?

Post by gator15 »

Sell the car you don’t like. Try living with one car for a few weeks, and if it doesn’t work, buy a second car you like. Maybe you pay $4k to $6k more than you would have if we didn’t have the chip crisis. I could live with it because at least I’m driving a car I enjoy. I drove a car I didn’t want for awhile because I didn’t want to take the depreciate hit among other things. In hindsight it was a bad decision.
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hand
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Re: Should we sell our 2020 SUV?

Post by hand »

phinanciallyfit wrote: Thu Jun 10, 2021 5:39 pm
It is a Subaru Ascent. I dont find it as comfortable as I expected and since we usually keep cars a long time, I hate to think of having this car for 10 years or so. I find my back is sore after just driving an hour or so.
If the car is uncomfortable sell now, whatever the financials. Life is too short to spend 10 years driving an uncomfortable car if you have the means.

Living as a single car family for a couple months is likely to pay for whatever transaction fees / upgrade you end up deciding on eventually.
Wanderingwheelz
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Re: Should we sell our 2020 SUV?

Post by Wanderingwheelz »

lthenderson wrote: Thu Jun 10, 2021 4:23 pm
sureshoe wrote: Thu Jun 10, 2021 3:30 pm I'm sure someone on here will prove me wrong, but if this thing is 1 year old, I still think you're going to lose money... right? Assuming you paid about $40k. I'm finding it hard to believe you're going to get that much on trade or selling online - the market isn't THAT insane is it?
My brother sold his 2019 Camaro he paid $41k for brand new back to the dealer for $45k three days ago. It is now sitting on their lot listed for $51k. Until he told me this, I would have said the market isn't that insane too.
Last week I sold a vehicle for $85,500 that I bought for $67,000 exactly 24 months prior. I put 23,000 miles on it, too. In this insanely Covid manipulated market I’m a seller. I make no apologies.

I’d advise anyone who Is in a similar situation to do the same thing. Opportunities like this are once in a lifetime.
3 Fund Portfolio. 70/30 AA. No mortgage. Simplicity is key.
02nz
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Re: Should we sell our 2020 SUV?

Post by 02nz »

livesoft wrote: Thu Jun 10, 2021 11:45 am When you sell a car, you may have to pay sales tax, but certainly when you bought the car the seller collected sales tax from you.
The buyer pays the sales tax if it's a private transaction. If selling to a dealer (traditional or Carvana/Vroom), no sales tax is due, it's due when it's sold to the next person who titles it. At least that's how it works in most states.
Tingting1013
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Re: Should we sell our 2020 SUV?

Post by Tingting1013 »

Wanderingwheelz wrote: Fri Jun 11, 2021 8:26 am
lthenderson wrote: Thu Jun 10, 2021 4:23 pm
sureshoe wrote: Thu Jun 10, 2021 3:30 pm I'm sure someone on here will prove me wrong, but if this thing is 1 year old, I still think you're going to lose money... right? Assuming you paid about $40k. I'm finding it hard to believe you're going to get that much on trade or selling online - the market isn't THAT insane is it?
My brother sold his 2019 Camaro he paid $41k for brand new back to the dealer for $45k three days ago. It is now sitting on their lot listed for $51k. Until he told me this, I would have said the market isn't that insane too.
Last week I sold a vehicle for $85,500 that I bought for $67,000 exactly 24 months prior. I put 23,000 miles on it, too. In this insanely Covid manipulated market I’m a seller. I make no apologies.

I’d advise anyone who Is in a similar situation to do the same thing. Opportunities like this are once in a lifetime.
What car?
manatee2005
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Re: Should we sell our 2020 SUV?

Post by manatee2005 »

Wanderingwheelz wrote: Fri Jun 11, 2021 8:26 am
lthenderson wrote: Thu Jun 10, 2021 4:23 pm
sureshoe wrote: Thu Jun 10, 2021 3:30 pm I'm sure someone on here will prove me wrong, but if this thing is 1 year old, I still think you're going to lose money... right? Assuming you paid about $40k. I'm finding it hard to believe you're going to get that much on trade or selling online - the market isn't THAT insane is it?
My brother sold his 2019 Camaro he paid $41k for brand new back to the dealer for $45k three days ago. It is now sitting on their lot listed for $51k. Until he told me this, I would have said the market isn't that insane too.
Last week I sold a vehicle for $85,500 that I bought for $67,000 exactly 24 months prior. I put 23,000 miles on it, too. In this insanely Covid manipulated market I’m a seller. I make no apologies.

I’d advise anyone who Is in a similar situation to do the same thing. Opportunities like this are once in a lifetime.
What did you replace your vehicle with?
manatee2005
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Re: Should we sell our 2020 SUV?

Post by manatee2005 »

phinanciallyfit wrote: Thu Jun 10, 2021 5:39 pm
Watty wrote: Thu Jun 10, 2021 2:50 pm
phinanciallyfit wrote: Thu Jun 10, 2021 11:07 am We like to camp, but I think we could rent a car for the few weekends where we are planning to do this.
Rental cars are in very short supply and very expensive when you can find one. People have posted about having a reservation for a car only to show up and find out that they do not have one in stock.
phinanciallyfit wrote: Thu Jun 10, 2021 11:07 am Is there anything I'm not thinking of with this situation?
...
Thoughts?
About a month ago I got quotes from CarMax and several others and the quote I got for a 2018 Corolla was for more than I paid for it, excluding tax and licence. The details are not important but I ended up trading it in for a new car so I basically got to use the Corolla for three years for free except for the normal operating costs.

It would be good to get some quotes from CarMax, Carvana, Vroom, etc to see what sort of price they are offering for your SUV.

What is the model of the SUV?

Some new cars still have a decent supply on dealers lots. If your SUV is in short supply and dealers have other cars in inventory then you might be able to work out a decent deal to trade in your SUV for and car you would like. At least in my state that would save you the sales tax on the trade in amount.
Good to know about rentals,. While it isnt critical, it is part of our safety net plan.

It is a Subaru Ascent. I dont find it as comfortable as I expected and since we usually keep cars a long time, I hate to think of having this car for 10 years or so. I find my back is sore after just driving an hour or so. I also had planned to use it to tow a small camp trailer (which we wont be buying for a few years due to the crazy trailer market) and now I worry that we may kill the transmission by towing often (this was a pre-pandemic plan, not a pandemic reaction). It is rated to tow 5k, but we rented a small trailer (about 2k lbs) and it really struggled with it.

I'll get actual quotes, but it does look like we may be able to get exactly what we paid, including taxes, title, registration, and warranty.
I would sell the Subaru. Look into CRV, RAV4, CX-5.
Wanderingwheelz
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Re: Should we sell our 2020 SUV?

Post by Wanderingwheelz »

manatee2005 wrote: Sat Jun 12, 2021 2:21 am
Wanderingwheelz wrote: Fri Jun 11, 2021 8:26 am
lthenderson wrote: Thu Jun 10, 2021 4:23 pm
sureshoe wrote: Thu Jun 10, 2021 3:30 pm I'm sure someone on here will prove me wrong, but if this thing is 1 year old, I still think you're going to lose money... right? Assuming you paid about $40k. I'm finding it hard to believe you're going to get that much on trade or selling online - the market isn't THAT insane is it?
My brother sold his 2019 Camaro he paid $41k for brand new back to the dealer for $45k three days ago. It is now sitting on their lot listed for $51k. Until he told me this, I would have said the market isn't that insane too.
Last week I sold a vehicle for $85,500 that I bought for $67,000 exactly 24 months prior. I put 23,000 miles on it, too. In this insanely Covid manipulated market I’m a seller. I make no apologies.

I’d advise anyone who Is in a similar situation to do the same thing. Opportunities like this are once in a lifetime.
What did you replace your vehicle with?
I didn’t replace it. It wasn’t a daily driver so until prices normalize I’m out of the market.
3 Fund Portfolio. 70/30 AA. No mortgage. Simplicity is key.
manatee2005
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Re: Should we sell our 2020 SUV?

Post by manatee2005 »

Wanderingwheelz wrote: Sat Jun 12, 2021 5:58 am
manatee2005 wrote: Sat Jun 12, 2021 2:21 am
Wanderingwheelz wrote: Fri Jun 11, 2021 8:26 am
lthenderson wrote: Thu Jun 10, 2021 4:23 pm
sureshoe wrote: Thu Jun 10, 2021 3:30 pm I'm sure someone on here will prove me wrong, but if this thing is 1 year old, I still think you're going to lose money... right? Assuming you paid about $40k. I'm finding it hard to believe you're going to get that much on trade or selling online - the market isn't THAT insane is it?
My brother sold his 2019 Camaro he paid $41k for brand new back to the dealer for $45k three days ago. It is now sitting on their lot listed for $51k. Until he told me this, I would have said the market isn't that insane too.
Last week I sold a vehicle for $85,500 that I bought for $67,000 exactly 24 months prior. I put 23,000 miles on it, too. In this insanely Covid manipulated market I’m a seller. I make no apologies.

I’d advise anyone who Is in a similar situation to do the same thing. Opportunities like this are once in a lifetime.
What did you replace your vehicle with?
I didn’t replace it. It wasn’t a daily driver so until prices normalize I’m out of the market.
Ok, all of my cars are unfortunately used daily. I was thinking one option would be to upgrade to 2021 model and maybe only pay 2-3k, depending how desperate they are to get my 2019.
aqan
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Re: Should we sell our 2020 SUV?

Post by aqan »

makingmistakes wrote: Fri Jun 11, 2021 5:10 am You get to undo a decision you aren’t happy with and will be out nothing? And you can get by just fine without a second car while you do better research this time? Seems a no-brainer to me. I’d sell in a heartbeat.
Exactly what I wanted to say. I’d certainly get rid of it and get something that I can make peace with.
bubbadog
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Re: Should we sell our 2020 SUV?

Post by bubbadog »

Tingting1013 wrote: Fri Jun 11, 2021 8:33 am
Wanderingwheelz wrote: Fri Jun 11, 2021 8:26 am
lthenderson wrote: Thu Jun 10, 2021 4:23 pm
sureshoe wrote: Thu Jun 10, 2021 3:30 pm I'm sure someone on here will prove me wrong, but if this thing is 1 year old, I still think you're going to lose money... right? Assuming you paid about $40k. I'm finding it hard to believe you're going to get that much on trade or selling online - the market isn't THAT insane is it?
My brother sold his 2019 Camaro he paid $41k for brand new back to the dealer for $45k three days ago. It is now sitting on their lot listed for $51k. Until he told me this, I would have said the market isn't that insane too.
Last week I sold a vehicle for $85,500 that I bought for $67,000 exactly 24 months prior. I put 23,000 miles on it, too. In this insanely Covid manipulated market I’m a seller. I make no apologies.

I’d advise anyone who Is in a similar situation to do the same thing. Opportunities like this are once in a lifetime.
What car?
My guess it was a 911.
smitcat
Posts: 7954
Joined: Mon Nov 07, 2016 10:51 am

Re: Should we sell our 2020 SUV?

Post by smitcat »

bubbadog wrote: Sat Jun 12, 2021 1:45 pm
Tingting1013 wrote: Fri Jun 11, 2021 8:33 am
Wanderingwheelz wrote: Fri Jun 11, 2021 8:26 am
lthenderson wrote: Thu Jun 10, 2021 4:23 pm
sureshoe wrote: Thu Jun 10, 2021 3:30 pm I'm sure someone on here will prove me wrong, but if this thing is 1 year old, I still think you're going to lose money... right? Assuming you paid about $40k. I'm finding it hard to believe you're going to get that much on trade or selling online - the market isn't THAT insane is it?
My brother sold his 2019 Camaro he paid $41k for brand new back to the dealer for $45k three days ago. It is now sitting on their lot listed for $51k. Until he told me this, I would have said the market isn't that insane too.
Last week I sold a vehicle for $85,500 that I bought for $67,000 exactly 24 months prior. I put 23,000 miles on it, too. In this insanely Covid manipulated market I’m a seller. I make no apologies.

I’d advise anyone who Is in a similar situation to do the same thing. Opportunities like this are once in a lifetime.
What car?
My guess it was a 911.
No...RV.
Outer Marker
Posts: 1808
Joined: Sun Mar 08, 2009 8:01 am

Re: Should we sell our 2020 SUV?

Post by Outer Marker »

makingmistakes wrote: Fri Jun 11, 2021 5:10 am You get to undo a decision you aren’t happy with and will be out nothing? And you can get by just fine without a second car while you do better research this time? Seems a no-brainer to me. I’d sell in a heartbeat.
+1. This seems like a very easy call.
Topic Author
phinanciallyfit
Posts: 164
Joined: Mon Jul 27, 2020 12:33 pm

Re: Should we sell our 2020 SUV?

Post by phinanciallyfit »

Wanderingwheelz wrote: Fri Jun 11, 2021 8:26 am
lthenderson wrote: Thu Jun 10, 2021 4:23 pm
sureshoe wrote: Thu Jun 10, 2021 3:30 pm I'm sure someone on here will prove me wrong, but if this thing is 1 year old, I still think you're going to lose money... right? Assuming you paid about $40k. I'm finding it hard to believe you're going to get that much on trade or selling online - the market isn't THAT insane is it?
My brother sold his 2019 Camaro he paid $41k for brand new back to the dealer for $45k three days ago. It is now sitting on their lot listed for $51k. Until he told me this, I would have said the market isn't that insane too.
Last week I sold a vehicle for $85,500 that I bought for $67,000 exactly 24 months prior. I put 23,000 miles on it, too. In this insanely Covid manipulated market I’m a seller. I make no apologies.

I’d advise anyone who Is in a similar situation to do the same thing. Opportunities like this are once in a lifetime.
Thanks. I think ours has about 6000 miles! We haven't been going anywhere, except camping periodically.
Topic Author
phinanciallyfit
Posts: 164
Joined: Mon Jul 27, 2020 12:33 pm

Re: Should we sell our 2020 SUV?

Post by phinanciallyfit »

anoop wrote: Thu Jun 10, 2021 9:53 pm
phinanciallyfit wrote: Thu Jun 10, 2021 5:42 pm This would require us to figure out what we actually want, lol.
Just follow this flow chart
https://www.aoamerch.com/product-page/u ... xe-t-shirt
Lol. I actually really like minivans. We test drove the odyssey when we were buying and was surprised that the seats weren't more comfy. But I appreciate the gear space and enough space for grandma and/or cousins to join us. If only they had a better towing capacity and a bit more clearance for those rough mountain roads (we are in the intermountain west), I imagine we'd be able to find one that is more comfortable.
Lucien786
Posts: 31
Joined: Wed Aug 01, 2018 3:16 pm

Re: Should we sell our 2020 SUV?

Post by Lucien786 »

Lol what's the SUV you want to sell?
stoptothink
Posts: 9499
Joined: Fri Dec 31, 2010 9:53 am

Re: Should we sell our 2020 SUV?

Post by stoptothink »

smitcat wrote: Sat Jun 12, 2021 1:48 pm
bubbadog wrote: Sat Jun 12, 2021 1:45 pm
Tingting1013 wrote: Fri Jun 11, 2021 8:33 am
Wanderingwheelz wrote: Fri Jun 11, 2021 8:26 am
lthenderson wrote: Thu Jun 10, 2021 4:23 pm

My brother sold his 2019 Camaro he paid $41k for brand new back to the dealer for $45k three days ago. It is now sitting on their lot listed for $51k. Until he told me this, I would have said the market isn't that insane too.
Last week I sold a vehicle for $85,500 that I bought for $67,000 exactly 24 months prior. I put 23,000 miles on it, too. In this insanely Covid manipulated market I’m a seller. I make no apologies.

I’d advise anyone who Is in a similar situation to do the same thing. Opportunities like this are once in a lifetime.
What car?
My guess it was a 911.
No...RV.
Yup, wanderingwheelz has talked about it several times. I have a friend who built (themselves) a class B out of Ram promaster. They were renting it out, but recently decided to sell; sold for approximately twice what they paid all-in within a few days.
Topic Author
phinanciallyfit
Posts: 164
Joined: Mon Jul 27, 2020 12:33 pm

Re: Should we sell our 2020 SUV?

Post by phinanciallyfit »

Lucien786 wrote: Tue Jun 15, 2021 4:57 pm Lol what's the SUV you want to sell?
Subaru ascent
terran
Posts: 2116
Joined: Sat Jan 10, 2015 10:50 pm

Re: Should we sell our 2020 SUV?

Post by terran »

If you only owned the Civic right now would you buy the SUV at the price you can sell it for or would you stick with one car for now or buy something else? If you wouldn't buy it then you should sell it.
DoubleComma
Posts: 359
Joined: Sun Aug 23, 2020 2:23 pm

Re: Should we sell our 2020 SUV?

Post by DoubleComma »

phinanciallyfit wrote: Tue Jun 15, 2021 4:15 pm
anoop wrote: Thu Jun 10, 2021 9:53 pm
phinanciallyfit wrote: Thu Jun 10, 2021 5:42 pm This would require us to figure out what we actually want, lol.
Just follow this flow chart
https://www.aoamerch.com/product-page/u ... xe-t-shirt
Lol. I actually really like minivans. We test drove the odyssey when we were buying and was surprised that the seats weren't more comfy. But I appreciate the gear space and enough space for grandma and/or cousins to join us. If only they had a better towing capacity and a bit more clearance for those rough mountain roads (we are in the intermountain west), I imagine we'd be able to find one that is more comfortable.
You’ve mentioned towing a couple times. I’m afraid to tell you that you are likely to continue running into a similar issue focusing on smaller SUVs. To get a capable tow vehicle, it won’t be a mid-size SUV or minivan. Sure both can tow a small low profile trailer, think pop-up, but any type of hard side camping trailer, even a hybrid, will overwhelm small/mid-size SUV. Lots of people will argue with me because “their neighbors cousin” has been towing XYZ with ABC and never had any issues. But it sounds like you know what it’s like to tow a miss-matched combination, so rely on your personal experience and math. By the way, a good combination in smaller vehicles is less about weight as it is frontal area and wind resistance.

When you look for the replacement vehicle pay particularly close attention to the campers “loaded tongue weight” and the vehicle cargo carrying capacity. You will quickly be looking at full size SUZ built on a 1/2 ton frame. If you start getting bigger than 20-22’ campers you will exceed even a full size SUV…it’s not a coincidence campgrounds are packed with 2500/250 pickups.

So to that point, sell the Subaru if you don’t like it, but really do your homework on the next vehicle. In fact, the wise choice would be to get the camper first, then match the tow vehicle. In the long run it will be the cheapest route.

This is something I know from first hand experience. Couldn’t get the trailer we wanted with our Tahoe, settled on trailer (Jayco 26BH). Second real trip in the Sierra realized we were way to close to the vehicles limits to be safe and comfortable. Tahoe was sold, was never going to have that experience again, so we bought the 2500 Silverado. All of a sudden I have the tow vehicle I needed for the originally desired camper (Jayco 29QBH), so we sold the initial trailer and replaced it. All this happened over 14 months…it was very Non-BH based on the amount these transactions cost us.

Good luck to you.
helloeveryone
Posts: 831
Joined: Sun Sep 04, 2016 5:16 pm

Re: Should we sell our 2020 SUV?

Post by helloeveryone »

knowledge wrote: Thu Jun 10, 2021 2:58 pm What about selling the civic? At least that way you won't be capacity constrained by your 1 car.
This is a good idea. You're likely to get good money for the civic and will feel better about the situation
Topic Author
phinanciallyfit
Posts: 164
Joined: Mon Jul 27, 2020 12:33 pm

Re: Should we sell our 2020 SUV?

Post by phinanciallyfit »

DoubleComma wrote: Tue Jun 15, 2021 7:32 pm
phinanciallyfit wrote: Tue Jun 15, 2021 4:15 pm
anoop wrote: Thu Jun 10, 2021 9:53 pm
phinanciallyfit wrote: Thu Jun 10, 2021 5:42 pm This would require us to figure out what we actually want, lol.
Just follow this flow chart
https://www.aoamerch.com/product-page/u ... xe-t-shirt
Lol. I actually really like minivans. We test drove the odyssey when we were buying and was surprised that the seats weren't more comfy. But I appreciate the gear space and enough space for grandma and/or cousins to join us. If only they had a better towing capacity and a bit more clearance for those rough mountain roads (we are in the intermountain west), I imagine we'd be able to find one that is more comfortable.
You’ve mentioned towing a couple times. I’m afraid to tell you that you are likely to continue running into a similar issue focusing on smaller SUVs. To get a capable tow vehicle, it won’t be a mid-size SUV or minivan. Sure both can tow a small low profile trailer, think pop-up, but any type of hard side camping trailer, even a hybrid, will overwhelm small/mid-size SUV. Lots of people will argue with me because “their neighbors cousin” has been towing XYZ with ABC and never had any issues. But it sounds like you know what it’s like to tow a miss-matched combination, so rely on your personal experience and math. By the way, a good combination in smaller vehicles is less about weight as it is frontal area and wind resistance.

When you look for the replacement vehicle pay particularly close attention to the campers “loaded tongue weight” and the vehicle cargo carrying capacity. You will quickly be looking at full size SUZ built on a 1/2 ton frame. If you start getting bigger than 20-22’ campers you will exceed even a full size SUV…it’s not a coincidence campgrounds are packed with 2500/250 pickups.

So to that point, sell the Subaru if you don’t like it, but really do your homework on the next vehicle. In fact, the wise choice would be to get the camper first, then match the tow vehicle. In the long run it will be the cheapest route.

This is something I know from first hand experience. Couldn’t get the trailer we wanted with our Tahoe, settled on trailer (Jayco 26BH). Second real trip in the Sierra realized we were way to close to the vehicles limits to be safe and comfortable. Tahoe was sold, was never going to have that experience again, so we bought the 2500 Silverado. All of a sudden I have the tow vehicle I needed for the originally desired camper (Jayco 29QBH), so we sold the initial trailer and replaced it. All this happened over 14 months…it was very Non-BH based on the amount these transactions cost us.

Good luck to you.
Yes, we are thinking maybe a truck, but we aren't sure yet if we will like it. I do appreciate the added seats of the SUV, but we have to give somewhere. We are aiming for a smaller trailer (under 20') and I have spent considerable time looking into these, so I have a good sense of layouts and weight of the trailers, but we did learn exactly what you noted... we need to assume a much lower tow capacity than the vehicle lists.
duuuuuude
Posts: 55
Joined: Mon Dec 12, 2016 11:42 pm

Re: Should we sell our 2020 SUV?

Post by duuuuuude »

Used car market craziness is real.

December 2019, tried to sell a leased Infiniti QX60 when we got a new car. Offers were $6k under our buyout price. That much under water, it was cheaper for us to keep the car until the end of the lease than to lose the $6k right away.

Fast forward to last month, with 5 more months of the lease remaining, new offers via Carvana and Vroom were $6k OVER our buyout price. VROOM came to pick up the car too, making everything super easy. So not only did we not have to pay the final 5 months, but also avoided $400+ registration due in June and $400+ disposition fee at the end of the lease if we were to keep the car.

So we pocketed $6k and avoided another $2200+ in payments and fees if we were to keep the car for the term of the lease.

If you’re not a fan of the car, consider yourself lucky that you have a chance now to get out of it now.

Pocket the extra cash and take you’re time finding a new one that you’ll enjoy.
User avatar
pointyhairedboss
Posts: 449
Joined: Fri Mar 02, 2007 10:47 pm

Re: Should we sell our 2020 SUV?

Post by pointyhairedboss »

Another reason to sell the Subaru Ascent is because it is unreliable. It made Consumer Reports ten least reliable cars list. It is a new model for Subaru and they still haven't worked out all the kinks.


https://www.torquenews.com/1084/why-sub ... hould-know
SavinMaven
Posts: 21
Joined: Fri Sep 25, 2020 3:55 pm

Re: Should we sell our 2020 SUV?

Post by SavinMaven »

Outer Marker wrote: Sat Jun 12, 2021 1:50 pm
makingmistakes wrote: Fri Jun 11, 2021 5:10 am You get to undo a decision you aren’t happy with and will be out nothing? And you can get by just fine without a second car while you do better research this time? Seems a no-brainer to me. I’d sell in a heartbeat.
+1. This seems like a very easy call.
+ another. I see no downside to selling as outlined.
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