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Still a market for SUVs
Posted by
Clever Dude
|
August 15, 2008 .
J. Money (formerly J. Savings) proved this week that there’s still a market, however small, for SUVs. He sold his Toyota Highlander for a loss after having it up for sale for weeks. The interesting part was the buyer paid $19,000 in cold, hard cash! I can’t imagine walking into a bank with a bag full of Benjamins like that.
Why did he sell? Read the article for the full story (he’s a good storyteller), but basically he wants to shed the expensive car payment and use that money to save towards paying a future car in cash. Same reason I still consider selling my Honda Ridgeline, but now I don’t have a fallback car since we’re selling the old Pontiac.
Congratulations J!
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6 Comments
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Clever Dude and his bride started with $113,000 in consumer debt and in just 3 short years, it's gone!
Dude,
Quality used cars are still in abundance… why not put that Ridgeline up for sale and see what happens?
@Tom, because I’d be too tempted to get something I didn’t need. Most of it is just self-control and forcing myself to practice what I preach.
As a note, I’ve already taken pictures if I wanted to sell. It’s not out of the question yet.
Better yet, sell the ridgeline, get an unsecured loan for the difference (I assume you’re upside down) and drive the pontiac until you’ve paid off the SUV and saved up enough money to buy a quality used car for cash.
@Tye, already thought of that, but I ran into resistance from the wife. She really likes having the truck, even though she’s not the one driving it. I’m not upside-down on it right now (my payments are keeping up with depreciation), but I won’t really know what the market on it is like until I put it up for sale.
I was wondering why my stats exploded a bit
Thx for the shout out, and Congrats to you too of course! Perhaps I owe you a nice lunch now? I’ll swing by in the Caddy……awww yeahhhhh.
I saw a car commercial today with Chuck Norris and the Honda Ridgeline. I thought it was hilarious. Thought of you, Clever Dude!