Need advice selling a car with $17k payoff but offers are only around $10k — what are my options?
Hi everyone, I’m looking for advice because I feel stuck with my car situation.
I have a 2021 Toyota Corolla that I still have a loan on through GM Financial. My current payoff is about $17,000. I’ve gotten offers from places like CarMax around $10,000, which would leave me with about a $7k difference that I don’t have available.
My car payment is about $460/month and insurance has become really expensive because of my driving history (tickets + 2 accidents). The car is honestly putting me behind financially and I’m trying to figure out the smartest way out.
Are there any other places I should try selling it?
Has anyone dealt with selling a car while upside down on the loan?
Is private sale worth trying for a Corolla?
Has anyone worked with GM Financial on surrendering a vehicle, and what was that process like?
I’m trying to avoid making the situation worse, but I need a realistic solution. Any advice is appreciated.
I will most likely cross post btw