Trade in or sell?

[Anonymous]

I have a 2003 Jeep Grand Cherokee (original owner) with an engine light that won't stay off (I think there's a coolant leak, but I've thrown too much money at the problem with no resolution that I've given up) and a rear window that has a bum regulator and the window slides down on its own. I was quoted $500 to get that fixed, which I clearly didn't do because that's a ridiculous price. No other issues that are unresolved that I'm aware of.

Two dealers have offered me $500 and $300 for the car as a trade-in.

WWYD? Make the window repair and try to get the coolant issue resolved by another mechanic, and then try to sell it privately or just dump it as a trade in? I can probably negotiate it up to $1000 and $800, respectively. Or would someone buy it as is for more than $1,000? KBB value as a trade in is $1500, private $3000, FWIW.

I've put a lot of money into it this last year with a new battery and a new computer (2! the first one failed but the first was under warranty so I only had to buy one). I'm irritated but realistic about not getting top dollar at a non-Jeep dealer. Thanks!

[Anonymous]

donate it to Habitat for Humanity, get a tax break

[Anonymous]

Anonymous wrote:donate it to Habitat for Humanity, get a tax break

We probably won't itemize next year.

[Anonymous]

If you do donate, vehicles for change. They fix cars and sell them, auction, or fix and give to a needy family. It maximizes deductions. A dealer offered me $1000 for my car/money pit, they fixed it and sold it for $7K, which was my deduction.

[Anonymous]

I’ve been in a very similar situation - in my case a 12 yo SUV with high mileage and a lot of issues - and I ended up trading it in for just $500. On one hand I felt a bit ripped off; on the other hand, I knew darn well that car had a lot of issues and I couldn’t, in good conscience, do a private sale without telling them about the issues, which probably would have nixed most deals. It just wasn’t worth the hassle and worry for me to try to get a little bit of additional money. (Though with my current 10 yo SUV- which is still running great - I would try to sell on the open market to get top dollar, since I wouldn’t feel any guilt about that sale)

So if I were in your situation, I’d just trade-in or donate as is. There’s a $1000-$1200 difference between the offers that you’ve gotten and the kbb trade-in value, but you could easily spend just that amount trying to fix up the Jeep. I’m betting that the coolant fix alone is about $1k

You could also do a quick Craigslist search to see what similar vehicles are actually selling for around here - that would help corroborate the kbb estimate. Heck, if you have time, you could even go ahead and list your car awhile to see if you get any nibbles

[Anonymous]

Selling is a hassle. For that low amount of $$$ I suggest you just go ahead and trade it in.

[Anonymous]

I would trade it in. KBB is all well and good but it assumes you will find a buyer for your car and you may not or it may take a long time for you to find a buyer and in the meantime you have carrying costs for the car such as insurance.

I would search completed Ebay auctions for cars similar to yours to see what the actual price of the car should be. CL won't be accurate because people list the asking price high knowing it will get bargained down.

[Anonymous]

Anonymous wrote:donate it to Habitat for Humanity, get a tax break

If money is concerned she is better off trading in. Donating this car might net her about $75 in tax savings, assuming she can even itemize under the new law.

[Anonymous]

Selling privately is the smart thing to do for a used car in good condition. Yours is not. Nobody else wants to take on your deferred maintenance.