I purchased a 2016 Acura TLX in 2017 for ~$28,000 (2k down, 26 financed at 4.45%). I now owe ~$4,600 on the car. The car has a few damages to it (dented hood tip, cracked windshield, cracked taillight, dented fender) but has no functional problems and I was offered $16,500 for it.
I know that recently used car prices have spiked and so now may be a good time to sell if I would like to. I have always been frustrated that I purchased such an expensive car (instead of getting a regular Toyota or Ford) and so am I wondering if I should be selling.
Is there an equation that can tell me when/if it is financially advisable to sell? Taking into account value given above normal depreciation, cost of getting another car (now or in the future after prices have come down), etc...? Not sure what I should be taking into account when making this decision.