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Location: Lakewood NJ/Murrells Inlet SC/ N. Naples FL/Swainton NJ
4,026 posts, read 6,543,837 times
Reputation: 3531
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I have a 2002 Pontiac Grand Prix 2 door sedan with 73,000 miles on it. I have always love the car from the day I bought it new. It has spent a good deal of it's life either in a garage or under a car cover. I has a few minor issues that I thought about fixing. But I was also thinking of trading it in on a 2013. However this past Saturday running around on a tight schedule in the NJ traffic (and wet roads) I rear ended another vehicle. My Pontiac is still drivable (but not currently totally legal due to the loss of the driver's side head light assembly (actually the lights still work, there is just no "seal" beam). Just about all the damage is cosmetic. I dropped collision a while ago.
Before the accident I figured it might be worth $4 to $5K as a trade in. Now I guess I might settle for $2,000.
Should I try to trade it? Should I take it to an auto salvage? Should I donate it? Looking for my best option.......
You won't get $2K on trade. The dealer might "show" you that much, but in reality he'll give you maybe $500 and jack the price of the car you're trading for by $1500 or so.
Private party sale is probably your best bet. Someone who does bodywork might see an opportunity to have a nice car cheap once it's fixed up, or fix it and sell it at a profit. Or someone who doesn't care about how it looks will see it as a great deal on a mechanically sound car.
If you want the least amount of hassle sell it to a salvage yard or donate it.
No way......You could spend $1500 to get $2500 on a trade/sale.
4-5K was never going to happen on a 11 year old Pontiac. Sell it as is, you may get $1500 for it. Collision is tough to value on a forum, you may have damage that can't easily be seen. Car is now ideal for a kid's first car or a winter beater for someone.
What is overlooked here is that Pontiac is a dead brand so the car you have is now an orphan meaning that it's worth very little no matter it's condition.
My advice is donate is to get out from under it and buy yourself a nice used car.
Location: Lakewood NJ/Murrells Inlet SC/ N. Naples FL/Swainton NJ
4,026 posts, read 6,543,837 times
Reputation: 3531
Well I think I will continue to drive it until I see the right deal/incentive on a new vehicle (probably a 2013 Malibu). I like the no-interest financing promotions which aren't happening right now. I plan to wait until August or September.......
What is overlooked here is that Pontiac is a dead brand so the car you have is now an orphan meaning that it's worth very little no matter it's condition.
My advice is donate is to get out from under it and buy yourself a nice used car.
You are completely WRONG again!
Do a little research on the late model Pontiac G8/GTO's and you will find some in demand/expensive used cars. Of course any of the big block stuff from the late 60's/early 70's is not suffering from being an orphan either!
The car is worth less than 2k with that major damage, per edmunds.com
Trade it in for the right deal.. but you may get less than $500 at trade in and like another poster said - it will only "look" like you'll get that much.
I hate to bring it up but you do know that if you buy new car and have to buy collision insurance the rate will be HIGH due to your accident. This sort of thing would take financing a new car off of the table for me. I would fix it and drive it until my insurance rates go back to where they are now and then shop for another car. sorry for the bad luck
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