I understand the whole deal with everyone wanting more fuel efficient cars and all, but I think I am at a loss. I want to sell my 2004 Chevy Trailblazer, but from all the estimates I have seen- I am going to actually OWE money to the bank! In fact, we paid $33,000 for it, and they saying Private Party price is $19,000! What do I do? Hold on to it for another year, or get out while I still can?
Thanks!
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Favorite Answer
All new cars depreciate (lose value) rapidly in the first few years after purchase. Your situation is not unusual, but I don't think that selling your Trailblazer is the answer. Trading down to a smaller car may save you a few $$ in fuel mileage, but it would take a long time to pay back what you will lose by selling your Trailblazer for less than you owe on it.
You're better off just holding on to the vehicle you have until it's paid for, and then go shopping for a more fuel efficient vehicle for your next one. While you're waiting, try to conserve fuel where ever you can with your present vehicle. Don't speed, plan your trips to do the least amount of driving possible, Keep the car's engine tuned up and operating as efficiently as it can.
Good luck!
sarge927
Before you sell, call the company that financed the loan on your Trailblazer and ask them for a pay-out amount (how much it would cost right now to pay the loan off 100%). Then check your local newspapers or your local auto sales magazines like Auto Trader or Tradin' Times and see what the asking price is on a 2004 Trailblazer. If it looks like you're going to lose money on the deal, hold off for at least another year. In the meantime, see if you can save money on gas by carpooling, using public transportation, ANYTHING.
lugnutz59
Not trying to be a jerk, but you bought a vehicle that you couldn't afford. When you buy a new vehicle, you should not buy anything that you can't pay off in 2 years, otherwise, you'll be in the situation you are in now. Believe me, I know there's a big thrill in buying a new vehicle, and most people care only about "How much a month", and that's the wrong way to buy a car. OK, now I'll get off my soapbox and say this. You can take the loss now and trade/sell the vehicle, or drive it a couple more years until you can get the full value out of the vehicle. JMHO, sorry if I offended you.
mye77
Sorry to say, but yes you are going to bite the bullet if you sell that car. Trailblazer's have very poor resale value. That is why I would always recommend something like a Toyota 4Runner because their residual values are top of the line and should you decide to sell the car a year or two down the road, you won't be upside down on it. WIth a TBlazer, you will almost always be upside down, unless you put down a pretty good down payment when you bought it.
chuck
Call Zero Down Motors 1-888-356-7030 they sold my 2004 Trailblazer for $25,000 and it took 2 weeks. I will never sell a car another way. Good Luck