We need to sell our 2013 Prius C (basic package). The problem is, we have "negative equity" in it - meaning we still owe a few grand over what we'd likely get offered by a dealer or Carmax or wherever. Any suggestions on how to get the best deal possible? We don't want to trade it in. If we take it to a dealer, are they just going to tell us we need to pay off more of the loan to get into "positive equity" before they'll buy it? Any advice is appreciated. It's only got 40K miles and is in good shape. KBB puts the value around 7700 trade-in. Thanks!
? Can't sell a car you don't have the title for. Wells Fargo has the title; the only way to do it is to convince the buyer to pay off your loan, or pay off the loan before you can hand over the title. And like I said, it's not worth as much as is owed on it. Hoping someone will be willing to take over payments
Pay off the loan if you have the cash, if not borrow short term and pay it off. Then sell it private where you will get the most money for it. Selling private should get you about $1500 to 2000 more for your Prius c. That is what I would do.
I would also check with WF Bank. WF Auto Lending may be willing to send the Title to your local branch. You and the buyer could meet at the local WF Branch. The Buyer hands WF Bank the money, and your local WF Bank hands over the title. You would need to see what types of payment would be acceptable to the bank. There has to be a procedure by WF Bank for a private party purchase title exchange. This is a common routine transaction.
This forum has a buy/sell sub-forum. It's possible that somebody in Brooklyn might want to buy your C and work the deal through WF. At the risk of being told to mind my own business, why would you be interested in going to a dealer unless you "needed" to sell your Priussy to get another new car? Here's the think. A dealer ABSOLUTELY WILL sell you another car if you're in negative equity on your present car. It happens all the time, which is how many people get into negative equity in the first place. Right now, many people are driving about as much car as they can afford to, and new car sales are starting to decline. This means that it's a lot easier to get a bad car loan than it was before. Sound familiar? Your best bet is to gut it out in the C until you're able to sell it at neutral equity. If you absolutely have to sell it, then a private sale to a person who would be willing to have their bank/credit union work with your bank is absolutely the best way to go....even if you have to sell it at trade-in plus a little on the side. Car dealers can smell desperation from 3 counties away. If you trade in now, then in 3 years you'll be further upside down on your next car......almost guaranteed. Good Luck!
At risk of seeming daft, I can’t find the buy / sell forum despite looking in all of the different model web navigation lists.
toward the bottom of the main forum page, 'prius chat marketplace', then 'private sales'. then, at the top, 'private cars for sale'. don't ask me why it's so convoluted, but i want to say that's the nature of software/hardware/internet
It might be worth it to check with carmax or caravana just for an actual quote. The caravana quote i got was 3k more than dealer trade in - of course I don’t know if they’d actually stick to the offer after inspecting the car but it’s possible you’d get over the kbb.
