A question for any dealers. I have a 2000 Chevy Blazer 2-dr 2WD Sport with the 4.3Vortec, auto, cloth interior, loaded, Cd player, very nice shape, black with grey interior. It's just like an Extreme, only not lowered. My wife is getting tired of our daughter having to push the front seat forward to get into the back. She also hates the large blind spot where the pillar is. I just looked at Kelly Blue Book, and it lists the value of the truck at only $1950!@! Really? This truck runs great with no problems whatsoever. She wants a 4-door Blazer or Suburban, but we still owe $3K on the truck. Will it do any good trying to sell, or should I just keep it and say, "live with it". I would buy her an older -burban and fix it up, but I'm trying to keep the Fairmont first on the list. I'm thinking with the economy, it probably won't sell anyway. Everyone wants econo-boxes or crossovers. Yuck!!
You don't say what the mileage is, and that can make a big difference. I went to the NADA site just now and threw in 100,000 miles, which wouldn't be unreasonable for a 10-year old car. The "average" trade-in on your car is listed as $2,625. That includes a $600 premium because 100K is considered low. If it's 150,000, there's a $500 penalty, and the value is $1,525. A mileage of around 130,000 doesn't lead to a premium or a penalty, so that presumably is what NADA considers a normal mileage amount on a 10-year-old car. For a 130,000 mile 2-door, 2WD Blazer, the average trade-in is $2,025, which is pretty close to the $1,950 you came up with. If you still owe $3,000, it would seem unlikely you could get enough on a trade-in to pay off your loan. It would certainly seem unlikely that you would have any equity in it. What about selling it yourself? NADA shows a "clean retail" value of a 2000 Blazer like yours of $4,550. If you can sell it for that much, you could pay off your loan and still have $1.5K for a down payment.
I certainly wouldn't trade it in. And I think that the B.B. value is low. But that being said, it might be hard to get what you owe on it. There is a 2000 chivy S-10 blazer 4 door for sale up the street from my house. Asking $3000. Looks straight. It's been sitting there for months. At least when it snows they may have a chance to sell it then since it's 4wd. I dunno, seems that rigs like that just don't hold their value well.
It's probably because people expect them to be driven hard and thus likely, if you get one used, to require spending significant money to keep it going.
I have a 91 Suburban that I'm going to finally sell. I don't need it but have kept it because you just can't get anything for them anymore. With gas prices as they are, people shy away from trucks and the market shrinks and the price goes down. It's a shame too. Take my burb....the last of the big boys and a Missouri car. So what. Can't get anything for it. I was hoping to trade privately for something but I doubt that will be any better. It would apear that you are a little upside down in that truck, DR. You can try to sell it on the street and see what happens. Now days, the market for trucks & burbs is really small.
I don't now what you were expecting to get, but I wouldn't get too upset. You are talking about a vehicle that is nearly 20 years old. It isn't exactly going to set anyone's heart a-throb.
Oh, thanks, jaunt...your advice is important to me. Like the advice you gave back seat about the average mileage of used cars. You told him it's 12K miles...incorrect...it's been 15K miles since the 90's.
I wasn't posting advice, and I couldn't care less what you think of what I post. You posting something, and I commented on it. You don't want people to comment, don't post. Oh my god, shoot me dead. Such an egregious error. If this is the worst mistake I ever make in my life, I'll die a very happy man. And where did you get this from, anyway? The NADA site puts it at 13,000 per year.
Everyone says this about station wagons, or so conventional wisdom has it. But I've found that I get a pretty good number of people, including young people (under 30), coming up to me and commenting positively on mine when I'm out with it. I'm going to toss a wild guess out there and say that this is because people that young did not grow up with station wagons. They don't recall the day when wagons were everywhere and minivans didn't exist because either they were too young then or because they weren't yet alive. To them, a station wagon is something Chevy Chase drove in "Summer Vacation." (I do get that reaction sometimes.) To see one in real life is unusual, and they're curious about it. I like that.
The truck has 133K on it. It's a good truck, but not so practical anymore. I wouldn't mind a good 'burban but I'll have to save some money up.
That's right on the average for a 10-year-old Blazer, at least according to NADA. They say the trade-in value is about $2000. Of course, it might be interesting to take it to a dealer and see what they actually offer you.
Those later 2-door Blazers didn't retain their value very well. Initial purchase price was quite a bit less than the 4-doors, though. Not sure you're going to come out in the positive even selling it yourself. You may have to 'pay down' your loan some...... The alternative is trading it in with a bit chunk of negative equity and being REALLY upside-down on your next vehicle. Don't do that.
Not sure how this would work. The typical case is to use the equity in a trade-in as the down payment on the new vehicle. With negative equity in the trade-in, they would have to ADD the debt leftover from the old vehicle to whatever loan he took out on the new. He would thus owe more than 100% of the vehicle's value if he didn't bring any cash to the deal. And if he has cash, why not put it toward paying down the existing loan? In any event, I can't see a finance company permitting a loan on a vehicle that exceeds its value. He'd maybe have to take out a separate personal loan to cover the difference, and the interest rate on that would probably be considerably higher than that on a car loan. I think the OP is stuck with his Blazer until he can pay off or at least pay down the current loan until he's above water.
Yeah, I'm pretty much stuck. I have had dealers tell me before that they could pay off no matter how much you owe. They just tack the negative value onto your next loan. I'm not gonna do that. The Blazer is a good truck. I'll just keep it and keep my eye out for a good Suburban.
