what to do with a used car

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  #1  
Old 06-24-06, 10:45 AM
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Smile what to do with a used car

I have a '96 Jeep Cherokee with 120k+ miles on it. I still owe 2400 on it and the kbb value is less than that. Not only that, it needs work the cost of which most likely exceeds the worth of the car. I have just purchased another vehicle but I'm stumped on what options I have for the jeep. Can I donate it even though it's not paid off? give it to a junkyard? I just want it off my hands because I have no place to store it ie. a garage. Any advice much appreciated.
 
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  #2  
Old 06-24-06, 11:00 AM
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Since it is not paid off, there isn't a whole lot you can (legally) do in regards to getting rid of it. You could pay it off and then donate it. Be aware that they are closing the loopholes on how much tax write-off you can get for vehicles now. Without a clear (paid-off) title, you cannot sell it unless you make arrangements to pay it off before a title would be transferred to a new owner. Good luck.
 
  #3  
Old 06-24-06, 12:55 PM
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Thanks for the immediate response. I guess I really have no real option other than to hang onto the car until it's paid off.
 
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Old 06-24-06, 05:42 PM
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Just curious, but what ails it?
 
  #5  
Old 06-25-06, 03:57 PM
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It has a slow transmission leak (refill about every 2-3 mos), needs a new catalytic converter but has passed emissions w/in the last year and shakes rather violently at high speeds when going around curves which I have yet to determine the cause. It is my daily driver so the engine is still good.
 
  #6  
Old 08-01-06, 08:41 AM
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You have the 4wd Cherokee? It'd make a perfect trail rig to take offroading! You might check w/ some 4x4 forums and try to sell it if you aren't interested in keeping it.
 
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