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uh don't know about all that...all i can say is, when i got rid of my prelude, carmax offered me the generous sum of $6500 for it. when i took it to a local dealer that used to be a sponsor of ia? i got $9900 for it day of, and they turned around and sold it a week later for no less than $10500...Quote:
Originally Posted by redGT
Well i'm passing along information that I have from a reliable source that actually used to sell and buy cars there.Quote:
Originally Posted by shagwAg3n
If this were August I would have a car I would be willing to loan you for a month or so if it would help. Too bad it's June. Good luck man!
I appreciate the offer nonetheless. Thanks man.Quote:
Originally Posted by Revmaynard
Financing wise, thats a lot of a new mustang GT.
Sell your car yourself (private party) and then PM on what you want. I am a whole saler. I hook people up. Im saving my boss like 20 g on his 08 F350 Dually Diesel.
**** post up the specs of your car and Ill tell you black book (what youll get for it)
Sell the mustang yourself. If you trade it in you'll lose atleast $5K vs: selling yourself.
I don't even think a dealer will allow you to rollover $8k in negative equity, unless you buy a new car.. and carmax sucks.. they won't give you anywhere near what you owe :( i bought my xterra brand new (i, too, was young and stupid) b/c i just had to have one and now i'm stuck with it, we've tried to trade it in for something that eats less gas but it hasn't happened yet.
i think you are pretty much screwed no matter what you try.. i'm sorry! kudos to you for trying to help your girlfriend though, it's sweet!
i agree with the other person in here that said move her in with you. although i think thats a horrible idea, getting rid of a car you like is even worse. and if you do decide to get a miata for yourself hopefully youll get MSM. also another option is to go drive around in the worst traffic parts of atl during the worse time and hope someone hits you or hey dodge a deer, the best method for dodging deer is in the ditch. and that is assuming you have full coverage.
-or- go to a movie theater that is known for cars to go missing and leave your windows rolled down and hope for the best.
I had an MSM for while and loved it. However, with gas the way it is, I'd rather not get a Miata that'll get the same MPG as my Mustang and require premium fuel. I like my Mustang, but I'd be happy in Miata too. That's not an issue.Quote:
Originally Posted by redrumracer
LOLQuote:
Originally Posted by redrumracer
As desperate as I am, I don't think I want to go into insurance fraud. Knowing my luck, it wouldn't even be totalled. :lmao:
i would never directly suggest fraud or anything like that, just find some backroads and drive up and down them, your eventually bound to find a deer :D then you appropriately swerve do dodge said deer, but dont let off the gas, floor it to produce most damage.Quote:
Originally Posted by Ran
and i thought msm didnt get bad mileage as long as you didnt drive it hard.
^^ She's right, for the most part (Kelly Marie). It's not that easy to roll over that much negative equity. You have to have really good credit and find a car that will work for the deal. You can't finance a $12,000 car for $20,000. The car is the collateral for the loan and no one is going to loan you that much more than the collateral is worth. To absorb negative equity, dealers will do a lot of creative math on the paperwork and try to get you in a car that they are selling for less than the book value.
I actually worked in dealership finance, I've done it plenty of times and I'm an accountant.
What we would do is find the used car on the lot that we had a lower amount invested in. Say a Taurus that we bought for $6K but would sell for $12K and had a book value of $14K. We would sell for $12K, roll over $2K to finance the whole $14K and then give them a little more for their trade, ask for more down payment, anything we had to do to make up the remaining negative equity and still make as much as possible off the deal.
You should try to pay as much as you can on your car in the next couple of months, sell it private party and maybe buy a scooter or something if you really can't afford to put gas in it.
Taking $8K in negative equity is horrible. You will always owe more on your car than it's worth. Do you have GAP insurance? What if you get in a wreck or it's stolen? There has to be a better option than digging yourself into a huge financial hole.
BTW, Redrumracer, MSM's are 23-26 city and 29-30 highway. Premium only.
I found a 2001 Mazda about 2 miles away from my work for $9,000 at a dealership. I'm gonna go check it out. Hopefully I can work some magic. :(
i believe this is going to be an impulse decision again.
How much is still owed on the mustang??????
Dude, I know someone who is looking to take over payments on a newer sports car. PM me if interested, that way you could just start over?????
Quote:
Originally Posted by redrumracer
Yeah dude, you really need to not make another mistake dude. Seriously.
PM'd.Quote:
Originally Posted by IndianStig
lol we just bought a scooter for my hubby.. he has a dodge ram hemi and spends so much in gas...Quote:
Originally Posted by JennB
ran - that could be an option.. it was only $1500 for a brand new 2008 scooter 150cc that can go 55-60 MPH and gets 70-80 MPG.. it just depends if you can take back roads to work :)
I can't condone making payments for a car. Sell the Mustang out right, get out from under the huge payment and if you have to get a loan for the two cars than shop around for cheap miata's. Paying high interest rates oncars is such a waist of your money. :goodjob:
PM Sent
lol... and this with no pootang? damn.
Good luck trying to rollover 8k... rough situation.
so what happened?
Read the whole thread.Quote:
Originally Posted by redrumracer
I second that!
Ran how old is your gf?
ummmmmmmm i have???Quote:
Originally Posted by SlowsterCivy
Learn engrish, lawls noob. She meant she also read the thread, thus concurring with your statement.Quote:
Originally Posted by redrumracer
I'm saying I read the whole thread. And I agree with the person above me that said so what happenQuote:
Originally Posted by redrumracer
Thank you.Quote:
Originally Posted by ironchef
ohhhhhhhh so you agree with me on asking what happened, i gotcha. :DQuote:
Originally Posted by SlowsterCivy
*nods* YESQuote:
Originally Posted by redrumracer
Damn you doing all of this and no pie?
Now that's a rough situation.
uhh
sell mustang private party. or depending what value on it is, just get carmax to buy it. take the extra few grand and buy two cheap miatas.
buy another one when you can actually afford it.
keep your car and she can buy her an eg civic
p.s.....shes a GIRLFRIEND......if you aint married its not your responsibility to get her a ride...***** whipped bull**** if you ask me....
You can get 0% financing and Suzuki will pay for your gas for the summer on select models until June 30th!
Can anyone tell that I work in automotive advertising?
Carmax almost always auctions cars with the following:Quote:
Originally Posted by shagwAg3n
Modifications.
10 years of existence.
100,000 miles of travel.
Any issues with the title.
Too many pings on CarFax.
If they plan to auction your car, they will give you going auction rate for your vehicle, and not KBB/Black Book. If they plan to lot your car, they will give you Black Book Trade-in based on condition it's in. The car lot in your example made exactly $0 off of that transaction when you take into account their costs. Except that they likely financed the car, and thus made money off the finance charges.
Carmax is a fantastic company, but there are plenty of cars that don't belong anywhere near Carmax.
Well, I went over my options and decided to try and sell the car outright. It's listed on CL and I'll try to list it on E-Bay. If it sells then great, if not then I'll tough it out and try to start putting more towards my monthly note to make up the negative equity. I've gotten a bunch of calls from people wanting to take over payments, but that has too much grey area for me to really feel alright with it.
Thanks to everyone that offered advice. :cheers:
Can you sell any mods you've made to the car (if you have made any), and then put it towards your monthly note?
I got my exhaust used from Nemesis for pennies on the dollar so I guess I could do that. I don't think it'd make that big of a difference though.Quote:
Originally Posted by ironchef
i purchased a car...two cars, the teg and the maxima...i financed bothQuote:
Originally Posted by Ran
total loan:4500
teg: 130/month - 4yrs
total loan: 6500
maxima 145/month - 5yrs
w/ high ass interest rates
she should be able to handle that...or u can
go to a credit union..
Please tell me youre paying over that amount monthly.Quote:
Originally Posted by PBS