I want to sell my 2004 Chevy Trailblazer, but am I going to lose money?

[Southern Belle]

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!

 

[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.

 

[Justin K]

see if someone will take over the payments

 

[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.