[PerryJ]

Everyone,

I need your help real bad. I want a 2002 IS very bad! But I have one tough problem I am having trouble getting around... Here's my story...

I have a '99 Black Regal GSE. I still owe 22k on the loan. I owe so much because my previous trade-in was in an accident and I got raped on that. The only thing I have going for me is my interest rate is only 1.9%. Now, any dealership I've been too, I can't get anything close to my payoff as a trade-in. I can afford as much as $525/month. I don't wanna put anymore than 2k down, and only if I have to. My Buick is in great shape with no problems etc. I don't care if I lease or buy the IS300. Do you guys have any thoughts on what I can do about my dilemma. I really want to get into this 2002 IS300 with a manual tranny. Any insight on this is greatly appreciated...

Thanks.

 

[Badman Forever]

Those Buicks are pretty fast. Ever think about supen dat sucka up?

 

[soulstalker]

The 2002s won't be available for a while, and you probably will not want to pick one up for a month or two (unless you enjoy paying MSRP or higher).

So with that in mind, why don't you try and sell your car yourself? Dealerships always rape you in trade-in's, your best bet is to sell it yourself (or get the buyer to assume your loan).

 

[merlin3008]

you're paving the way for big time debt problems. be careful whatever you do. if you still owe 22k on a car that's not worth 22k, you made a mistake when you bought that car. don't make the same mistake again. auto loans are not like home loans. when you borrow on a car you're financing an asset that loses value. much like now, you want to avoid having more debt that value.

 

[rseifer]

Originally posted by merlin3008:
you're paving the way for big time debt problems. be careful whatever you do. if you still owe 22k on a car that's not worth 22k, you made a mistake when you bought that car. don't make the same mistake again. auto loans are not like home loans. when you borrow on a car you're financing an asset that loses value. much like now, you want to avoid having more debt that value.

Merlin--this is probably the single most important item that has ever appeared on this website. It should be a "read & heed"
for all, and particularly for the younger guys who aren't as experienced at managing
longterm finances.

 

[PerryJ]

That's the best you guys can do? No more ideas?

I have thought about adding some mods to my regal, but I have decided against it. My car is a piece of crap and I will never buy a DOH-Mestic again. Never!

 

[Herzog]

You don't take Debt very seriously ...do you.If you owe that much on a Buick, your already in too deep.Trading in for a Lex of any kind will certainly bring you into a deeper hole.Anyhow, The smartest way to get rid of your car is a Private sale. You will get the most for your dollar this way.Good Luck