I have a 2015 Mustang with a kbb range of $17.9k - 19.7k (private sale) and I owe around $22k. I made the mistake of buying a replacement car too early, in hopes that'd I'd sell quick and to avoid my wife not having a vehicle to drive.
So now the Mustang has been on the market for 2 months and I am paying for 3 cars, including insurance, and I am beginning to worry about it actually selling. We live in an area where snow isn't uncommon during the winter months and Mustangs are somewhat seasonal cars.
My question is:
Do I keep paying for insurance and a car payment on the Mustang (nearly $600 a month) and wait for someone to hopefully purcahse it around 18k? ($4000 loss)
Or
Do I sell it to a dealership for cash at around 15.5k today? This would save me about $400 a month in payments after accounting for the loan I'll be paying on to make up the difference.
Submitted September 21, 2018 at 08:35AM by relaxitsaninternet https://ift.tt/2xthfBu
