I bought a used 2017 Chevy Bolt EV earlier this year, and now need to get rid of it. Long story short… I moved from a walkable city to a car-requiring city to be with a partner, and she has since betrayed every aspect of our relationship, and now I’m in a terrible individual financial position where I have a car I don’t want or need. It’s truly been the worst year of my life, and I need to get rid of this car before I can move on, both financially and emotionally. You know how sometimes guys will say whatever the woman wants to hear in order to be with her, and then not follow through on any of it once the woman is committed? Imagine the opposite of that… so before you judge me for being in this hole, please understand that I was completely blindsided.
KBB says it’s worth $14,000, while I have $24,000 left on the loan. My savings were used to move here, and so I’m trying to get the absolute most money for it. I’m thinking that I should sell the car and then refinance the loan, and pay off the loan monthly with the car-sale money, and then hopefully when that runs out, I’ll be in a more stable financial position to afford the payment regardless (I’m 26 right now). I’m currently located in TN. Do you have any tips for how I can get the absolute maximum dollar amount for my EV/if there’s a better time to sell than not?
Thank you so much in advance.
Get a personal loan, pay off the car with that, and trade it in to a Chevy dealer or CarMax. Get a job back in the walkable city you were used to. It may take five years but you will be able to pay off that 10 grand loan. Every month you wait to get rid of the car is another month it depreciates. I’m sorry the relationship didn’t work out, but that happens. Just learn and move on
with the extra interest on an unsecured loan, its probably not worth it.