[USER]

Hi everyone, My ex husband left me with vehicle that I don’t know what to do with it (for various reasons I had to keep it) so I’m looking for some advice on whether I should sell my 2021 Jeep Grand Cherokee.

I currently have a balance of around $41k on it with an interest rate of 4.2% and monthly payment of almost $900.

However, I’m finding that I need a more affordable vehicle, and I’ve noticed that the Jeep has depreciated significantly.

I understand I might take a big loss if I sell it now, but I’m weighing my options.

What do you think? Should I go ahead and sell, or is there a better strategy?

Also, if I decide to sell, could anyone recommend a reliable SUV or van that is more budget-friendly?

I’d really appreciate your thoughts and suggestions!

Thanks in advance!

[Joe]

Sell car, visit ex grave to repent. get a lexus ct 200h 2014-2017 for under 12k clean title. throw entire savings in an ETF (tech/energy heavy)

[Lester]

when you say he left you with the car, were you a co-signer?

[David]

This is more of a “Dave Ramsey” question and less of a FI/RE topic. Seems like you owe $10,000 more than what 2021 Grand Cherokees are selling for right now (given we don’t know which options / trim you have).

In other words, you are upside-down on your car loan. If you did sell it, are you in a position right now to make the bank whole?

Are you in a position to sell it, pay off the remaining balance, and pay cash for a replacement vehicle? That would be ideal.

Recommendations for replacements are a 5 or 6 year old Toyota Sienna or a Honda Odyssey.

Absolutely do not get into a scenario where you trade the vehicle and finance the outstanding balance of this loan into your next loan.

[Karthik]

Depending on the city you live in, you can consider renting out on Turo to cover the car payments while not having to take a huge loss due to depreciation.

[Dennis]

if you sell, use Carvana to get top dollar for it. Obviously check with CarMax or even a dealer for a trade in value, private seller if you’re up for it.

But from my experience, Carvana provided the highest offer last time I had to sell a car

[Graham]

We got a new ford escape which has been great and they offered 2.9% at the time about a year ago when we got it.

[LloYd]

Look in to leasing one. Toyota is the most reliable car brand.

[Author]

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