[Elantra GT] Selling Options

[Wayne Moses]

> -----Original Message-----
> From: elantra_gt-bounces at gwebworks.com 
> [mailto:elantra_gt-bounces at gwebworks.com] On Behalf Of Marc
> Sent: Friday, January 12, 2007 2:18 PM
> To: Elantra_gt at gwebworks.com
> Subject: [Elantra GT] Selling Options
> 
> If I were to sell now, I don't 
> think there's any way I'd make back what I owe on the 
> finance. if I sell at the end of July or beginning of August, 
> although I'll still owe less than I do now, I wonder if I'll 
> be able to make any "profit" at all.

There is usually a crossover point at which the you have some equity in the
car, i.e. the value is more than the balance owing.

The only thing that you can know for certain now is the payment schedule.
The value of the car goes down with mileage, which in turn goes up in time.
So the only thing I would suggest is go to Kelley Blue Book's site
http://www.kbb.com/kbb/UsedCars/default.aspx and figure out the value of the
car now. Check this against your payment schedule and decide on the next
step. Obviously if you lay the car up, the value will decrease slower, and
if you pay extra over and above the monthly payment that would help speed up
the attainment of equity.

Regards,
Wayne