Current Events > Fix or sell my car? I am so stressed and need advice =/

(+) Yeah! (+)

I have a 2012 Honda Accord EX-L with 70k miles worth 10,000 (lets say) if it were in good condition. My auto loan still has $7,000 on it.

But it doesn't run - it will need $2000 worth of work (lets say). It has a bad engine basically.

I'm also moving out of state in 2 months, so I need to either A) fix the car in order to sell it, or B) try to sell it as is to a mechanic or something.

If I go with A, then I risk it still not being totally fixed after spending $2k and that's a lot of money to spend only to immediately sell the car.
If I go with B, then I only get a fraction of what it's worth potentially. I'm not even sure anyone will want my car that doesn't run.

I've been getting by by riding my bike and taking the bus with the occasional friend or family member giving me rides, so I'm doing ok transportation wise.

What would you do in my situation?

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How much do you expect it'd sell for as-is? If the difference is less than $2000, there's no point fixing it up. If it's a lot more, say, $3000 or more, it's probably worth it.

If it's a close call - say, $2000 to fix, and it'd add $2500 to sale price - this really comes down to a judgement call - is the time you'd spend arranging a fix, as well as other costs incurred (eg. transport to a mechanic), worth the $500 extra you stand to get?

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You should sell it. It's a liability, especially if you are moving.

You are better off renting a U-Haul and driving it out of state.

Sell it and finance your move. It's already a burden.

Just don't expect to get a whole lot for it.

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100% sell it

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It also depends on what is wrong with it. Is it a cracked block? Blown cylinder head gasket? Leaking oil? What exactly is the problem? It all depends on what it is to see if it is worth fixing. Also, 70 miles (pretty sure this is a typo) on a 2012 and you already have engine problems doesn't bode well and will be a money pit.

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Thank you for the responses, friends. All things to consider. I updated to add that I currently owe $7,000 on the car still, which complicates things even further. I would like to pay off my loan if I can, but I don't know where to go about getting offers for a car that doesn't run. I'm going to call more car dealerships and mechanics.

I want to sell it as-is.

Also, what's wrong with it is that, apparently, the piston rings are leaking and it has a fouled spark plug. I'm getting mis-fires as well as a p0420 code on the cattalytic converter, which is probably from the fouled spark plug. Honda would charge $2700 to fix, and a mechanic said it might be worth it to replace the whole engine.

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Check with the car dealers in your area-- a lot of them are suffering from shortages of cars & are trying to buy used cars right now, so you might get more for it as a trade in than you might think.

Never ever ever go to a dealership to get your car fixed unless it was under warranty.

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pfh1001 posted...

Check with the car dealers in your area-- a lot of them are suffering from shortages of cars & are trying to buy used cars right now, so you might get more for it as a trade in than you might think.

This. Especially if the problem is something mechanical and not electric right now.

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Idk where you live but if you have an Enterprise Sales office near you use it as a trade in with them. They'll give you KBB value pretty much no matter the condition of the car. You'd have to pay for it to be towed to them, but that's probably it.

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