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Old 01-17-2019, 05:52 PM   #15
oslouie
 
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That is also TRADE IN value. FWIW...
Right, that is why I was thinking $14k private party since that's the high end of the trade in value.
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Old 01-17-2019, 09:33 PM   #16
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It's gonna be a tough sell in January. You could expect a few more $ if you wait until March.
If you are shopping homes now, you probably still have 6-8 weeks until you close.
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Old 01-17-2019, 10:55 PM   #17
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It's gonna be a tough sell in January. You could expect a few more $ if you wait until March.
If you are shopping homes now, you probably still have 6-8 weeks until you close.
But he has to get loan prequalified with that car loan off the credit record before any house negotiations can happen. He would likely get more $ off the price of the house in this season than the $ lost in car sale due to season and depreciation that never stops on a car. The housing market is mostly slow now so you should be at an advantage there.
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Old 01-18-2019, 08:15 AM   #18
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I completely glossed over the wanting to buy a house bit the first time and only saw you were going to get hosed on selling price. If your debt to income is that high you don't need to buy a house right now, you need to pay off debt right now and save some money for when "Murphy" comes knocking at your door. If you bought the car with wrecked credit and it's killing you, chances are your getting a high interest, low to no down payment loan with a long term and that's not financially wise. For loans with greater than 80% loan to value ratio you'll pay PMI, private mortgage insurance, which covers the bank if you default. It's an extra $75 per month pet $100k borrowed roughly. In other words you're giving the bank an extra $75 every month on a $100k loan just for them to loan you money. Additionally, run the math on a 15yr fixed rate mortgage payment vs a 30yr fixed rate mortgage payment. You'll find you pay almost HALF on the 15yr payment total what you would have paid on the 30yr.

Good luck OP. I wish you the best of luck. Just remember to stay away from variable rate mortgages or ARMs, they'll absolutely kill you on increased interest rates.
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Old 01-18-2019, 08:50 AM   #19
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Take KBB value and multiply by 0.9. You will then be in the ballpark. Like mentioned above, dealers use NADA or Black Book.
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Old 01-18-2019, 08:52 AM   #20
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How did you get "a ton of door dings" from him saying "some door dings, not horrible"?
One is a ton! (in my world)
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Old 01-18-2019, 08:48 PM   #21
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NADA's average condition trade-in value is right at $13k. Thanks for all your opinions. I believe a house is more important than my car at this point of my life. There's a ton I want to do to my car like the audio upgrade I never got around to doing. I also thought about forced induction at one time but I figured maybe a couple years after buying my house, I'll be back in the game. Next time, with a ZL1.
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Old 01-20-2019, 07:59 AM   #22
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If your money is that tight loosing a car which is a find for someone else is not wise; so consider you would get what one pays for a lowliest of ford fiesta, or spork price for a car that was 40k not too long ago. Having a good down payment may be hard to save for also being your credit, but buying when the market is high for houses you most likely will get hosed two ways when the market drops...……..

Its much better to buy in a down market when its just starting to go up, and believe me the bubble will burst some ….some time, not enough good regs.; out there to protect and still overrated house prices as Gov't loves to tax you.....and increase the valuation for property taxes sake a yearly rip off to feed local bonds voted on by those who desire to screw home owners to build or fix schools or etc etc....


So you should go outside and look at your car and say; would I pay 14k for this car used..if you answer yes your insane from new house fever, take a chill pill or relocate ….find a way to cut expenses to save and refinance through a good credit union...yes it does happen on car loans...…… oldster motorhead here, not the first rodeo...…


though mortgage rates have grown they may fall someday, paying off in excess of the monthly payment also helps to pay down the mortgage and avoid interest, and the deal is the FED is stupid and feeds zero interest to Obama who doubles our debt, but now with Trump who kicks butt on economy they jack the rates repeatedly and should be spanked ; being independent they are still steered by politics and its BS to screw us all with higher rates over and over and over until like a roller coaster it has to go down because they have screwed the pooch....God wish they could fire the turds.

Complete Friggin partisan crap is reality, take it from a guy whos worked in govt for; school district 4 jobs, state like 6 jobs, county 1 job, city three jobs..... construction trades etc... then prior Military and in the DOC now, cyclical things do happen, market on housing due to dip especially if power switches to the left, BTW people hate big cities higher taxes, always make sure to not buy there they want your money desperately for their newest stupidest projects like the tram to nowhere riding the same amount of people as 1970 while giant bike lanes screw the entire down towns up...……. people cant afford their agenda and leave in droves...…….. away from the fake news of how wonderful it is to live there with Antifa/socialist..communists, and gangs , and homeless who need their$$$$$$ Living in the big city is not cool its stupid, consider buying a "cheap" 2 million dollar 4 bedroom home in Seattle, compared to a really Cheap larger 4 bedroom home for $250k with a larger yard in a more urban area...the difference; suckers are born every minute....its worth what you get someone to pay for it...same with anything; and in a big city they have you over a barrel and renting....they know the comps they price you; starvation in big cities to live for what...….to look down on the homeless and think how wonderful it is to pay so much not be and have enough to eat...…. Not everyone is college graduate who gets the perfect job, and earns big bucks to easily afford even rent there, and govt they want their slice just like the landlord.... And the Micro second the economy gets better you can bet the first hand out for raise is a teacher pimping kids with signs on the street corner to get money though it has nothing to do with a quality education just with their being able to afford 3 months off and buying a house and boat and the good life waiting for public paid retirement. crap another ramble...…...LOL happy Sunday, good football coming on...…..
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Old 01-20-2019, 08:17 AM   #23
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Totally agree with Pyro guy and christianchevell.
OP, if you sell your SS, what would you do for transportation? Do you have another vehicle?

A home is priority...sell the SS, continue building up your down payment...then buy.
Best of luck
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Old 01-21-2019, 08:36 AM   #24
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Am I off base thinking that is fairly low pricing for a 5th Gen 2SS. Although it may stand out if you set it at that price point, most the ads I see at least locally (i.e. albeit I haven't looked that hard) have 5th Gen SS cars still in the mid to high teens. I will agree with the wheels but with only minor scratches or a dent or two I am not sure that I see the market being $13k. If that is true I am glad to say I stuck with the GTO instead of settling for a standard model Camaro.
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Old 01-21-2019, 12:59 PM   #25
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>My question is, how accurate is KBB when it comes to pricing?


Is this a serious question? KBB is not credible at all, sell that on CL or Ebay and get some real money for it.
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Old 01-21-2019, 07:21 PM   #26
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christianchevell, I'm not selling it because I'm strapped for cash for a house. The main reason I want to sell her is to open up my debt to income ratio for a nicer home. I've been renting all my life and the last 3 years got me thinking and working hard on my credit. I'm ready to buy because at this point, I'm paying too much for someone else's mortgage. My lease is over in June and I just don't see myself resigning another year lease.

Joecruiser, I do have another vehicle. It is not nearly as nice ar the Camaro but it'll get me from point A to point B.

96SS390, you are correct. In my area, they are all in the mid to high teens if anything. I guess you can say I'm selling this at a bargain.

It's going to be freezing for the next couple of weeks but when it warm up a little, she'll get a cleaned up and ready for CL. Thanks for all your opinions guys, whether it be negative or positive, all is welcomed and seriously, some of you even had me thinking twice about selling her!
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