Losing interest in my Sonic.

[2012SilverLS]

Don't get me wrong, my Sonic is a great little car. Recently I'm looking at 2011 - 2013 Scion tCs (hate how the 2014 refresh looks). I'm finding more now my Sonic does not have the trunk space I need, I need more inteior length The after market for tC is much better too. I love how the tC has coupe body lines, but is really hatch back-ish. Love all the OEM performance options. Also the gas cap is the drivers side like sane cars. The problem is I still have a lien on my Sonic. Can I trade my Sonic it with a lien on it still?

What I mean by the hatch back-ish body.

 

[carsNskis]

You can trade with a lien, but your loan value is probably higher than the trade value. Get your "payoff" from the lien holder and check for trade value with KBB or NADA.

If you owe more than it's worth that's called negative equity. Let's say it's $2500. Divide that by the new payment terms of 60mo and it would add $41.60 to each payment.

A bank may not loan the extra money on top of the Scion (not worth $2500 extra to them)

All just depends on how your numbers work out

it's not the size, it's how you drive it....

 

[JustSonic]

I was looking at a Crew Cab Frontier yesterday and was considering giving my Sonic to my wife and using our Spark as a trade in. When asked about the Sonic, I still owe 17,000 and its KBB is 8500 (2014, LTZ, 10,000miles).

These small econo boxes do not hold their value well at all. My 2006 work truck Colorado with 140,000miles was worth about what this one is.

Your best bet is to wait 2 years into owning the car. If you still cant stand it, then trade it in. Yes, you will have some negative equity but you will understand the full decision you are making. Plus negative equity isnt terrible, it just isnt good either.

 

[2012SilverLS]

You can trade with a lien, but your loan value is probably higher than the trade value. Get your "payoff" from the lien holder and check for trade value with KBB or NADA.

If you owe more than it's worth that's called negative equity. Let's say it's $2500. Divide that by the new payment terms of 60mo and it would add $41.60 to each payment.

A bank may not loan the extra money on top of the Scion (not worth $2500 extra to them)

All just depends on how your numbers work out

it's not the size, it's how you drive it....

I just went on Canadian Black Book (Canada's version KBB), it showed the avg trade value is $5000-$5900. I also checked the AVG asking price is $10,100. If anything I'll do a private sale, my Sonic will be a hard sale. It is a base model with a manual, no AC, no cruise control. I might be better taking it to auction.

 

[Palmaris]

It is a base model with a manual, no AC, no cruise control.

Oooo, that's rally car material!

 

[2012SilverLS]

Oooo, that's rally car material!

Like this one? I found it on Aveoforums.
Rally Sonic RS

 

[RMinNJ]

The hatch sonics look so much more exciting than the scions..just saying.
I have not lost interest in my sonic yet and would get another.

 

[2012SilverLS]

The hatch sonics look so much more exciting than the scions..just saying.
I have not lost interest in my sonic yet and would get another.

My friend has a 2011 tC. He out on TRD springs (lowers the car 1"), the TRD short throw shifter, TRD exhaust. TRD intake. It drives pretty good. I need something with more interior length. I might wait till Chevy starts selling the Cruze hatch back.

 

[Palmaris]

Yup, that's a rally Car. RayPiloto had put a bit of a thread on here as well. Glad to see he's actually got the car to do some racing! Go Sonic!