Help? I have 2 cars both w/ loans how do I sell them & buy one?

I just separated and need to reduce my expenses on both 2006 cars and get one car. Both loans are still pretty high-15000 and 20000. Whats the best way to do this and get the best deals?

Sell one car and keep one car.

You always lose money when you sell a car JUST to buy another car.


Good Luck...

First you will want to calculate your Personal Resell value on the cars. This can be done easy from KBB.com. simple answer the questions they have there and you'll know your target sale price. Next you will want to see if maybe the dealer would be willing to take both cars in on the purchase on a used or new car. if the dealer will not give you anything for the other cars (They will not pay off the loans and want you to put in a down payment) then simply advertise the cars on the Internet or through your local newspapers. good luck and Happy car hunting.

if you sell them they'll both HAVE to be paid out immediately, unless it's an unsecured loan, or they are not the security. Watch out if it's the house! You prob won't get enough to pay them out, so perhaps you can get someone to take over terms, if the financers will allow it, or perhaps you can arrange with ex to take over one of them? Do it formally, via the financer so the ex has the debt, not you, or you will be toast if/when she stops paying. Sad to see it happen.......again.