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Hi all,
I bought a Nissan Pathfinder SV on July 30, 2015 and we dislike it..It's too big for our daily commute and a smaller car would have been better. We need more than 5 seats periodically (when our families visit and stay with us for weeks) so Nissan Rogue with family package might have been a better option.
I got a good deal on the Pathfinder and paid 21% off MSRP ( I do believe, MSRP is just jacked up to show consumers they are getting a deal when dealers knock off prices)
Anyways, I know we made a foolish mistake. (So, save the energy and don't repeat that to me, please)
My question is - how does depreciation work? When would be the best time to get rid of this car (after how many months/years)? Or, should we just stick with the car and not sell it for at least a year? I don't want to lose a lot of money but know will have to lose some money due to my mistake.
Hi all,
I bought a Nissan Pathfinder SV on July 30, 2015 and we dislike it..It's too big for our daily commute and a smaller car would have been better. We need more than 5 seats periodically (when our families visit and stay with us for weeks) so Nissan Rogue with family package might have been a better option.
I got a good deal on the Pathfinder and paid 21% off MSRP ( I do believe, MSRP is just jacked up to show consumers they are getting a deal when dealers knock off prices)
Anyways, I know we made a foolish mistake. (So, save the energy and don't repeat that to me, please)
My question is - how does depreciation work? When would be the best time to get rid of this car (after how many months/years)? Or, should we just stick with the car and not sell it for at least a year? I don't want to lose a lot of money but know will have to lose some money due to my mistake.
Thanks
AJ
The best time is now. Place an add and sell it. It is near new and under warranty. Tell prospective buyers that your needs changed and you are downsizing. Say it is in new condition.
Offer at least a 2K savings (or more savings from new). Go to Carmax and see if they have any late model units price it similarly.
OR if you can swallow another Nissan/Infiniti (maybe a QX56?) then call the sales manager where you bought it and tell him you want to trade it on a smaller vehicle - you will have to be careful with your negotiation because they love those kind of deals.
You basically threw 4 or 5 thousand bucks down the toilet the moment you drove it off the lot.
I wouldn't trade it in at a loss... buyer's remorse is common on a big purchase and you may learn to like the vehicle. Go do something fun in it; a long road trip and/or camping trip involving dirt roads or something else that you think is fun. Making good memories related to the vehicle will go a long way towards changing your opinion of it.
If nothing else, keep it until you can trade it in for something else without incurring any negative equity to minimize your "oopsie".
Get it's current value from the online places, maybe a Carmax offer, and see what kind of trade deal you can work on a smaller one.
Whatever the value is, will be what it is. If it really does not work for you and you feel you must replace it, then there is no time like the present. The older it gets, the higher the mileage, the less it is going to be worth.
Do you own it or are you renting it from the bank?
If you have the title selling it private party might be the easiest. It would also open you up to the possibility of a private party trade which could help on sales tax.
You can sell it private party if you are financing it is just a little tougher since the bank is involved.
If you are trying to deaden the financial blow sell it private party.
I can pay off the auto loan and will be doing so in the next couple weeks so I can sell the car without the loan issues.
Checked CarMax and they have the exact model for the exact amount I paid to dealer (without taxes) so maybe I can negotiate the price there? Looks like CarMax has a Nissan dealership in White Marsh, MD so I am thinking of talking about the Rogue with them.
Private Party sales is a good idea and I will post on Craigslist and Autotrader (Untill it sells option)
I paid $29k + taxes and MSRP was $36,800..
I am hoping to minimize my losses.
Thanks all.
Savvy buyers will research this gen's Pathfinder and come across 2014 and 2013 models having CVT issues, and sometimes real soon into ownership. Now, it remains to be seen if Nissan has fixed this up, even partially in the 2015 Pathfinder, but only time can tell and you obviously don't want to keep the vehicle. So yes, just cut your losses and sell it now.
Some say it's 15% depreciation the very moment you crossed the door. That's for sticker value. Then calc in tax you paid and fees.
I'd bite the bullet and get used to the car. Too much financial loss to my taste to sell her right away. No one in sane mind will pay you what you wish for it. No one cares what "books" say, everyone cares about paying as little as possible.
That car may as well open on you. One never knows. I'd also pay it off asap, no need to add interest charges to the loss. Then you have equity in it and it's easier to sell, than for someone to assume lien and all that.
I can pay off the auto loan and will be doing so in the next couple weeks so I can sell the car without the loan issues.
Checked CarMax and they have the exact model for the exact amount I paid to dealer (without taxes) so maybe I can negotiate the price there? Looks like CarMax has a Nissan dealership in White Marsh, MD so I am thinking of talking about the Rogue with them.
Private Party sales is a good idea and I will post on Craigslist and Autotrader (Untill it sells option)
I paid $29k + taxes and MSRP was $36,800..
I am hoping to minimize my losses.
Thanks all.
You minimize your losses by getting over your irrational dislike for the size of the vehicle that you obviously liked when you drove it for your test drive, and let yourself get used to it.
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