Sell car still in financing?

caribmike

Gold
Jul 9, 2009
6,808
202
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Hi,

my 2014 Tucson "Full" goes into its 3rd year of financing in October.

I am eying something bigger now and would like to check (tentatively) how I would / could have to proceed if I sell it.

Not sure how much I could ask for. Price was 1.6 million DOP.

Any tips?
 

IEatTravelnCode

New member
Oct 29, 2014
246
0
0
Hi,

my 2014 Tucson "Full" goes into its 3rd year of financing in October.

I am eying something bigger now and would like to check (tentatively) how I would / could have to proceed if I sell it.

Not sure how much I could ask for. Price was 1.6 million DOP.

Any tips?

You can transfer it to the buyer.
and the current price on the market is around 22 ~ 23K USD
 

caribmike

Gold
Jul 9, 2009
6,808
202
63
19-22 K USD only?

New it was 37000 USD. So worth half after only 2 years? Hard to believe. Wow...
 

caribmike

Gold
Jul 9, 2009
6,808
202
63
19-20 is the value DGII put on it. Probably closer to a dealer value. They get you on taxes anyway. They don't hold their value like the big boys.

By the way, the most expensive new Tuscon is 1.4m pesos (31,500 usd) brand spanking new.

http://www.supercarros.com/carros/c...cia/Hyundai/Tucson/?YearFrom=2014&YearTo=2014

What you guys mention is the "sencillo" the normal model with nada included.

My one has leather seats, electrical sunroof, 4x4 etc. It is the Limited and was 37000 USD for the 2014 model. No offers for this model in supercarros...
 

caribmike

Gold
Jul 9, 2009
6,808
202
63
There are lots of NEW 2016 Tuscon Limited's for 31500. The most expensive is 31995 USD.

Really? Now, then we finally have a car what is cheaper in the DR than in the US...

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I was told when buying my one that "Limited" here is usually a "semi-full", so still not all extras included and my "full" was one of very few "real" full ones what Magna had.

But I see it will be difficult to resell...
 

Cdn_Gringo

Gold
Apr 29, 2014
8,671
1,133
113
First rule for selling anything: It's only worth what you can get for it at the time you want to sell it.
Second rule for selling anything: If taxes are due, the Govt will assign it's own value regardless of what you paid.
Third rule for selling anything: If you still owe on what you are selling, there will be a penalty to pay off/transfer the loan.
 

caribmike

Gold
Jul 9, 2009
6,808
202
63
GLS 4dr SUV
(2.0L 4-cyl. AWD 6-speed Automatic)
Next Step Get Dealer Quote
Invoice
$23,843MSRP
$24,905
$21,710


True Market Value? Pricing
DescriptionInvoiceMSRPTrue Market Value? Base Price $22,047$22,950$19,948 Remote Start $316$350$304 Option Group 01 $0$0$0 Cargo Net $41$50$43 Cargo Tray $80$100$87 Carpeted Floor Mats $100$125$109 Cargo Mat $76$95$83 Mudguards $80$100$87 Roof Rack Cross Rails $184$205$178 Beige $0$0$0 Ash Black $0$0$0 Wheel Locks $44$55$48 Destination Fee $875$875$875 Advertising Fee Unavailable* Regional Adjustmentfor Zip Code:
31602
Update ($52) Color Adjustment $0 Total Price $23,843*$24,905$21,710*
*DisclaimersNext Step Get Dealer Quote
 

william webster

Platinum
Jan 16, 2009
30,247
4,329
113
When the fat Lady sings, my guess is that it will be easier to trade the car, roll over the financing and drive off the lot.

Like many things RD - doing it yourself can be an obstacle course.
 

dv8

Gold
Sep 27, 2006
31,266
363
0
TUCSON IX35 4X2 S US$26,900.00
TUCSON IX35 GAS FULL US$36,900.00
SANTA FE SPORT STD 4X2 US$38,900.00

i don't know much about cars but i kinda feel that maybe it was not the best choice to buy a full model which is 10k dollars more than the basic and only 2k dollars less than santa fe which is much bigger, has a third row of seats and is more of a car. many used cars buyers do not look at the extras but rather on vehicle's value on the whole. i think trading in for a santa fe may be a good idea. it's a decent car.
 

caribmike

Gold
Jul 9, 2009
6,808
202
63
i don't know much about cars but i kinda feel that maybe it was not the best choice to buy a full model which is 10k dollars more than the basic and only 2k dollars less than santa fe which is much bigger, has a third row of seats and is more of a car. many used cars buyers do not look at the extras but rather on vehicle's value on the whole. i think trading in for a santa fe may be a good idea. it's a decent car.

Yes, I am thinking about the Santa Fe or the new Ford Explorer...
 

caribmike

Gold
Jul 9, 2009
6,808
202
63
What interest rate do you have on your loan? Just curious if its better than the 3% per month that the used car places want to charge.

3% per month? Jeez...

I did the financing with BanReservas Auto Expo. I don't know exactly, I think I pay around 11% / year.
 

caribmike

Gold
Jul 9, 2009
6,808
202
63
Well, I think I will ask BR and Magna Motors what my options are...

@JDJones: Hey, what's wrong with that? :ermm: Wouldn't that be what WW recommends to avoid "doing it yourself can be an obstacle course."???

BR is who is financing my car and it is from Magna Motors...
 

caribmike

Gold
Jul 9, 2009
6,808
202
63
That's what it will boil down to - what they have in stock. I've never heard of ordering one from the factory.

What really mucks things up is when they bring in a whole bunch of them, then spread them out all over the country in every dealer in every town.

You may want one they don't have, but does exist in the country - SOMEWHERE, but they don't know where or know and don't want to tell you.

That was the case with my one. When I bought it I was living in Bavaro and bought at El Tanque motors when BR had its "Auto Expo" feria. The one I wanted was coming from Magna Motors in Santo Domingo...