Keep SUV or Sell?

[DistilledRose]

I would say either trade it in for something more efficient or sell it and buy something smaller. If you really don't use all the amenities an SUV provides then you are dragging around dead weight.
Gas prices are only going up and I think the value of SUV's is going to plummet.

[khorrell]

Rose brings up one good point...where are the values of SUVs going? It seems to me that they've already fallen, which may change the math for you.

[Jason830]

MoneyMatters has the best idea IMO. I would sell it yourself and buy a compact.

[dmca99]

Im also in the mist of trying to figure out what to do with my 2005 jeep grand cherokee with only 27K on it. Kelly Blue Book says its worth $14,000 but Carmax will only give me $9,000 for it. I still owe $6000 but gas is killing me because the jeep is a v8 engine. The rep at Carmax stated that Kelly Blue Book values are 5 months behind in their pricing of SUVS and the value of my jeep is going to only decrese as times goes by. He was very apologetic and stated my car was in excellent condition just no one wants them anymore. So do i suck it up and continue paying big dollars at the pump? Or just take the $3000 (after paying off the $6000) and apply it towards a 4-cylinder sedan? Its sad because the jeep is practically brand new and sticker price was $33,000.

[antiver]

Dump the SUV. You don't have to buy a compact eco-green car though.. its not WHAT you drive but HOW you drive it.