Forgive me if this is a stupid idea. I'm really clueless about this stuff. And if this is the wrong space to post this, somebody please move to the approproate spot...

In Dec. 2004 I bought a new 2005 Honda Civic. I really don't drive much at all. It only has 6000 miles and is in perfect condition except for a small spot (1 inch long) on the bumper where the paint is slightly scraped. No dent, just a little bit of paint kinda curled off. I can get the whole bumper replaced for $600.

The car is Bluebooked at about $4K more than I owe (private sale). Dealers are selling lesser cars for $8-9K more than I owe.

Is there some kind of opportunity here? I'm fine with keeping the car. I'm not really that concerned with what I drive. I just want something reliable. you know, like a Civic.

I mean, if I could sell the car for $4K more, apply the $4K to a different car... Is this worht it? Is this stupid?

I got a real deal on the interest rate... 2.9% Maybe I should wait until this December to see if the companies run similar deals...

I appreciate any thoughts on this. It's probably a stupid idea since I'm satisfied with the car. It just keeps nagging at my head that I could somehow make $4K...

What are you trying to do, eliminate debt or move up in car?

Hmmm, good question!
Well, I'm not interested in moving up in cars although I don't want to move down. Meaning, I want a new/ish small, reliable car with a good resale value that won't break down, etc... basically, exactly what I have now.
I'd like to eliminate debt. Yes, yes i would! I'm not hurting. I don't need the money per se, but if I'm sitting on $4K that I could somehow cash in, well, that would be nice.
But once I sell the car for a $4K profit, well, I'm stumped as to what I do at that point. I'll just end up losing that $4K, right? I guess I could buy another Civic, a 2007, and gain the added re-sale value? But chances are I won't get the 2.9% interest deal...
Guess I'm just thinking out loud. Trying to figure out if I could gain from this situation...

The only way to "make" 4K is to sell the car, pocket the equity and not stick it into another car purchase.
Car's dont normally appreciate, they depreciate. If you spend the 4K on a different car, you are merely exchanging your equity in this car for something newer. But that's going to drop in value as well every day you own it as well.

If you are thinking of getting a newer car anyway, using the equity as a down payment is a good idea.
Selling it, pocketing the 4K and then buying another car isn't. You'll essentially be repaying that 4K to the lender for the new car- with interest.

You're right, I know it. It was a stupid question! Thanks for taking the time out to respond. Somehow, I just couldn't work it all the way out it my head and I just wanted to make sure i wasn't missing something.

It's not a stupid question at all . There is nothing wrong with trying to find a creative way to round up "free" money
I can't think of a way to do it in your situation though. Doesn't mean it's impossible- there are others who are more creative in that respect than I am.

I kept thinking "Well, sure, if you can find enough 'suckers' to buy it to time after time."

Sorry I just couldn't help it. I agree with radi8, though. It's probably not the best way to get money if you don't need it.

Selling a car at $4K less than you owe on it is not making a profit. You're ignoring the present value of all of the car payments you've made since last January.

If you could sell the car for $4k more than you bought it for, then you'd be making a profit.

Unless you want to trade down, there is no good reason to sell your car.

OP,

Take it to Carmax and let them appraise it, you won't be locked in a deal with them or anything. I've seen where Carmax has offered people insane amounts of money for vehicles that weren't even close to being worth that amount, I'm not talking about a "Trade in allowance" either, I'm talking about a "hand over your keys we're cutting the check right now!!!" deal. So it may be worth a try, just make sure that you have about an hour to spend in that place before you go. Hope this helps out

The OP did not state anywhere that they would be in the hole by $4k. Much to the contrary, she stated that she owes $4k LESS than the car is worth. She would, if she could sell it for blue book value, walk away with $4k in her pocket.

The unfortunate thing is, she would then have to buy another car with that $4k.

Yup! Tx Quiltgirl.... ya gotta'it right. The real problem with the whole scenario is the whole needing a new car factor.
I know that cars don't generally apreciate in value. No reason to think I'm any diferent. Just checking.

I think this so right.
You got a good reliable car almost paid for that will last for years if it is a typical Honda.
I think your best bet is to take advantage of having a paid for car and use the money from car payments for some other need.