Leo
08-18-2016, 05:41 PM
More specifically here's what I'm looking at. My car is worth somewhere $22,500 (below what I will accept) to $24,850... So I'm expecting something around $23,500, if they offer me less than $23,000 I walk, simply as that and wait until next year most likely.
New car is $21,463
Destination is $895 (estimated)
Tag is $45
Sales Tax (3.0%) is $672.09
Registration is $40
Total new car is $23,115
Unpaid Car Loan is $31,879.03 adjusted for this Saturday
Trade-in is $23,000 minimum, $23,500 expected, $24,000 preferred
Leaves a negative equity of $8,419
New car loan will be $31,494 and basing that on a higher than expected interest rate of 6% with 60 months brings my payment down slightly to $608.87 using all those figures. I can make the payment lower by going with a 72 month loan but I think aiming to pay it off sooner is best with having more flexibility to refinance later on, make principal payments and so on.
The whole mess started in 2009. I had a real gas hog, Mercury Grand Marquis and gas was $4.79 and then they had the cash for clunkers program and ended up trading in a clunker for a shit box Pontiac G3... I almost had it paid off and it was also worn out, was pretty much done at 101,000 miles. Had to trade that in for the Prius c. Again, the Prius c was fine, didn't have anything major, did have to take it back for warranty work once but beyond that it was fine, just a very small vehicle that was missing some "essentials." Then I left a very stressful job and for whatever reason I decided I needed to go buy a sports car and ended up with the Challenger. I did that while in the midst of changing jobs, bad idea, especially not knowing how much I will be bringing home and not being used to being paid once a month. Now I have made it work, but I still have a bad taste in my mouth with everything that went on with it and well the wow factor is gone too. It's fun to drive but expensive in everything else. I could have bought 2 sets of tires for the Prius.
I mean I pretty much have my mind made up. I will hopefully be able to pull it off, unless they offer me crap for the car which isn't happening, not desperate, just unhappy and I'd bet on a Prius lasting longer 5-6 years over the Challenger any day.
New car is $21,463
Destination is $895 (estimated)
Tag is $45
Sales Tax (3.0%) is $672.09
Registration is $40
Total new car is $23,115
Unpaid Car Loan is $31,879.03 adjusted for this Saturday
Trade-in is $23,000 minimum, $23,500 expected, $24,000 preferred
Leaves a negative equity of $8,419
New car loan will be $31,494 and basing that on a higher than expected interest rate of 6% with 60 months brings my payment down slightly to $608.87 using all those figures. I can make the payment lower by going with a 72 month loan but I think aiming to pay it off sooner is best with having more flexibility to refinance later on, make principal payments and so on.
The whole mess started in 2009. I had a real gas hog, Mercury Grand Marquis and gas was $4.79 and then they had the cash for clunkers program and ended up trading in a clunker for a shit box Pontiac G3... I almost had it paid off and it was also worn out, was pretty much done at 101,000 miles. Had to trade that in for the Prius c. Again, the Prius c was fine, didn't have anything major, did have to take it back for warranty work once but beyond that it was fine, just a very small vehicle that was missing some "essentials." Then I left a very stressful job and for whatever reason I decided I needed to go buy a sports car and ended up with the Challenger. I did that while in the midst of changing jobs, bad idea, especially not knowing how much I will be bringing home and not being used to being paid once a month. Now I have made it work, but I still have a bad taste in my mouth with everything that went on with it and well the wow factor is gone too. It's fun to drive but expensive in everything else. I could have bought 2 sets of tires for the Prius.
I mean I pretty much have my mind made up. I will hopefully be able to pull it off, unless they offer me crap for the car which isn't happening, not desperate, just unhappy and I'd bet on a Prius lasting longer 5-6 years over the Challenger any day.
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