I am currently own a 2019 Accord 2.0T that is still on a lease for another 1.5 years. However, I am interested on trading my car since I am sitting on $3,000 profit at the moment. The new car will take approximately 6 weeks to get delivered. I need to have a car available while the new car gets delivered. I am just afraid that my car loose its value during those 6 weeks. Any advise or ideas on what to do in these situation?
This has been discussed a thousand times recently. As always it’s a personal decision whether to take the current equity or wait, since nobody knows the future. In your case, do you really have a choice? You need the car so keep the car.
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No internet stranger can tell you what to do.
If you need a car keep the Accord. If you plan to get a new, what car would you get? Have you already negotiated a deal? If yes, what are the terms? Are you planning to spend that $3k “profit” on the new car?
Just came from a couple of auto enthusiast sites and those members definitely noticed a slight decline in offers lately from all the big online buyers. In addition, while there used to be tons of these cars already in the purchase phase and unavailable, (though still listed) those are few and far between now. So there are no inventory issues now, while there used to be in the recent past. That only makes sense as these online buyers are snatching up all that they can. The inventory probably changes all of the time, but the pricing according to many has peaked. At least for their vehicles.
This insane pricing cannot go on forever, but with the new car shortage, the end is longer than 6 weeks away. You may not make $3000 when your new car arrives, but you’ll still have a profit.
Of course on the flip side you could make $4000 by then. Curious, what are you replacing the Accord with? I only ask because I had a 2019 Accord 2.0 Sport and regretted the purchase the first onramp I took. It replaced a 2017 VW GTI and that was a HUGE mistake in my opinion.
Looking to get a Wrangler 4xe. No. I am not planning to put all the profit into the new car.
Ah, completely different purchase.
Very different. If it was for another sedan I would wait until lease was over. But with the lease deals available on the 4xe its difficult to overlook those deals.
If you’re getting a great deal then absolutely can’t blame you. And I just don’t see a huge change in pricing or a big market between now and 6 weeks. I mean the economy in general is doing well. A lot of these companies are smashing earnings. We’re not in 2008. However this housing bubble or whatever you want to call it is just as insane as the car pricing. Or more since prices in many areas are above 2008 pricing now. But that market is not crashing in 6 weeks either.
I personally think you’re good waiting. But I’m just an internet user with a butt and an opinion, just like everyone else.
Good luck!
How close are FL dealers coming against this month’s offer?
Dealers in Florida are very far from these numbers. More than double the monthly payment. I am considering working with a broker to get the deal. Go to the Jeep forums and you will see the kind of deals you can get on the 4xe.
What type of deals are dealers offering in your area?
The deals for that vehicle in Florida have an extremly high payment, and they are also selling above MSRP. To get a good deal I am working with a broker to find an out of state deal. I believe many LH members have done the same.
Care to share the type of pre-incentive discount you are being offered?
I appraised my car Acura MDX one month ago and today they are offering me $3,300 more. I’m in the same predicament, sell or wait?
What does the disclosure say?
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Definitely option 3.
I suggest you visit the discussion on the link below and contact that guy. He can work a good deal for you.
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Thanks, but I was not looking to lease a Jeep or any car at the moment. Just thought you would post your deal for others to chime in.
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