Well, I'm starting to think I made big mistake buying new. Actually I did make a mistake buying new. But anyway, I'm trying to think of a way to fix that mistake. I'm thinking I might be able to lower my payment a bunch if I do the following:

I owe around 17k on mine. So I'd want to find a 2000-2001 RS for $8000-9000. Trade my car for $13-14000, and finance the earlier model RS for 11-12k, depending on what I can get for mine. Sure, I'm losing money in the long run, and I'm in debt for a longer period of time, but I'm thinking I could cut my monthly payment almost in half.

So, am I crazy for thinking about doing this? Any financial gurus out there? Thanks..

-Ryan-

 

you are upside down by 3k and your payments are too high?

 

Yup... 430 a month... I'm one of those "Credit sucks + desparately needs a car x Zero down/19% interest = sucker" types...

 

why not refinance your car?

 

I was thinking about that too... But I was thinking selling and buying an older model would help even more. I'd like my payments around 250/mo. The re-fi options I've looked at keep payments in the high 300 range.

 

well in the game of finances its all about freeing up money, not making more.

If you can get your car payment to a high 300 range lets say 370, thats a saving of 70 a month.

Try freeing up money elsewhere. Like paying off a credit card of higher interest with a lower fixed one.

I think the range for you to purchase and finance an RS of lesser value, the difference will be 20 a month.

 

Hmm... I'll have to do some more searching on the re-fi option... thanks for your input guys.

 

Well Fin and Ferdie keep talking about a kick *** lease for the legacy GT which is around $250 some a month. Look into that also since the lease is for 48 months.

 

supose to end on 28th tho, must hurry >.<

 

did you get yours already?

 

im guessing he is in the toyota still

 

yeh he wants to keep the corolla for himself
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Fordsons F.C.