Dilemma: sell my car to get a van now or after I'm out of debt?

[Staying Put]

Here tentatively is my plan:&nbsp; to be out of debt completely within the next year and a half (I turn 62 next summer) and then sell my car (2006 Scion xA RS 4.0 with less than 60,000 miles by then) and use the proceeds to get and fix up a van.<br><br>My currently evolving thinking:&nbsp; Kelly currently has the private party value of my car in the neighborhood of $10,000 (in fact they just sent me an email to say its value went up 4%).&nbsp; I was thinking that maybe it might be better to sell my car now, albeit a year or so earlier than planned, when I will get a better price for it.&nbsp; It is going to be summer and nice and people would more likely be in a car buying mood, plus only working 2 1/2 miles from work I could easily bike if I was without a vehicle for awhile.<br><br>I like to approach things methodically and this flips around my original thinking, but it's possible that I might actually come out ahead selling my car now rather than in another year or more.&nbsp; If I get a good price I would have money to retire my debt early and maybe still have enough for a van or enough to save for a little while and get a van.<br><br>The bottom line is with this new approach in a year and a half I could not only have by debt retired, but also have a van.&nbsp; Am I missing any flaws or does this idea have merit?<br><br>TIA

 

[offroad]

anything with high value sell now, as it will decrease more than you will get in gain.<BR><BR>You will get in shape with the bicycle, which will reduce your medical costs

 

[Lostinspace]

What he said.&nbsp; Get the debt off your back.&nbsp; You'll feel so much better.

 

[James AKA Lynx]

Car prices are best -<br>After Graduation<br>Christmas<br>Right before Taxes due.<br><br>I suggest that you get out of debt. Get the Van. SLOWLY make mods AFTER sleeping in it some days. Study what people have done from VERY Basic to extensive and find out what makes you happiest in regards to what you want to do. <br><br>You will also have time to fix what ever you want/need to.<br><br>James AKA Lynx

 

[Staying Put]

If I sell the car I will have the money to get totally out of debt now, likely with a couple of grand left over.&nbsp; I can then use the money I intended for paying off the debt ($500/month) to save for a van.&nbsp; But this way (selling the car now) I could be all out of debt AND have a van within a year and a half rather than just be out of debt and about to find a van, having to sell the car then.<br><br>I thought I had the order I was going to accomplish these things in place, but now I think it might be better to sell the car now since it has the potential to do more of what I eventually want to do and in less time.

 

[VanLifeCrisis]

If you can sell the car and get out of debt sooner, especially if you plan to sell it anyway, do it now.&nbsp; Why pay more and drag it out?<br><br><br>The only downside might be you are unable to find a van right away and thus vehicle-less

 

[Staying Put]

I have no problem with being vehicle-less for 4 months or even longer.<br><br>I haven't sold a car for years and to be honest I'm not keen on the process.&nbsp; Is it kosher to set a reasonable (and I do mean "reasonable" because I don't need to squeeze every nickel I can get out of the sale but I also don't intend to give it away) price for the car and have it be a take it or leave it proposition, no dickering.<br><br>My car is a 2006 Scion xA RS 3.0 (RS means "Release Series" meaning it is a special model for that year.&nbsp; In 2006 they only made 2100 RS 3.0s and mine is badged #1049.) and it has about 53000 miles, is an automatic,&nbsp; and is at least in good condition.&nbsp; I have seen it listed for $8800 and $9400 for ones with more miles than mine and I've seen regular xAs with comparable mileage going for upwards of $10,000 or more.&nbsp; My goal would be to sell it and be done with it so I could get on with finding a van.<br><br>Any ideas or opinions?&nbsp; TIA

 

[James AKA Lynx]

Clean it up, inside and out and under the hood. Clean the tires of all rocks, Balance and rotate. Change the oil and fill the tank, high test if needed and keep it at least 3/4 full. Get all smells out of it.<br><br>Post adds ASAP. <br><br>James AKA Lynx

 

[Staying Put]

James wrote:<br>"Clean it up, inside and out and under the hood. Clean the tires of all rocks, Balance and rotate. Change the oil and fill the tank, high test if needed and keep it at least 3/4 full. Get all smells out of it."<br><br>I can do that.&nbsp; Just had the oil changed, have run synthetic since the 1st year.&nbsp; Tires are only a couple of years old and I can get them rotated for free where I bought them.&nbsp; I'm about the only person who has regularly been in the vehicle and I'm a nonsmoker, so smells are mellow and odors are not bad either.&nbsp; I have the stuff to detail it with, now, just what to ask for it.<br><br>I'll be glad when it's over.

 

[Lostinspace]

Check Kelly Blue Book and NADA.com for pricing.&nbsp; I can't remember which one, maybe kelly BlueBook, but they will give you a private sale price.&nbsp; Don't expect to get the dealer retail, but don't post it out there for wholesale either unless it doesn't move quickly enough.&nbsp; You can always go by the dealer and see what they will give you also.&nbsp; It will be wholesale though.&nbsp; So somewhere between wholesale and retail is where you want to be when you advertise.<br><br>Also check and see if you are upside down on value versus what you owe.&nbsp; If you are break even or upside down you could list it as take over payments.<br><br>It's a 2006.&nbsp; You are still making payments?&nbsp; My 2006 Tundra was paid off over a year ago.&nbsp; You may be upside down.<br><br>Hope some of this helps.&nbsp; Good luck with it.

 

[Staying Put]

My car was paid off a year ago, so that's no problem.&nbsp; Having been mostly out of work for 2 years I ran up some credit card debt and when the car was paid off I applied that amount to one card and paid it off and now have just one left which without selling the car I would have paid off in just over a year and then be debt free.&nbsp; That was my original plan, but if I sell my car now I'll have enough to pay off my debt with some left over.<br><br>Kelley has my car solidly in the $9000s with its mileage and condition for a sale to a private party.&nbsp; It would be solidly in the $8000s for a trade-in to a dealer.&nbsp; I am not desperate to sell my car but then again I don't want to drag out trying to sell it for weeks and weeks over a few hundred dollars.&nbsp; I just started to think about what might happen to a car in a year or a year and a half and that it's worth more money now even if I have the inconvenience of being vehicle-less for awhile.

 

[wagoneer]

sell the car try to hold on to what is left over craigslist like a banchie. gas more common if you plan on a LOT of hiway miles look for a bubble top diesel. E250-E350 under 300K miles. by the way welcome.

 

[Lostinspace]

I sorry I thought I saw above where you were still making payments on it.<br><br>Clean it up as advised above and list it on Craigslist and see what happens.&nbsp; Maybe even eBay.<br><br>Good luck with it.

 

[Ballenxj]

I agree, sell it now, or soon, while it's still worth a bit. Who knows what tomorrow will bring. <br>-Bruce