SkyWitit23

Hey guys I haven't posted in a while, hope is all well with everyone! I have some things rolling thro my head and need some opinions. I've been eyeing the 5.0 for awhile now the problem is some dealer ships I spoke to want to offer me 13K!! My car does have 60K on it but I think 13 is deff a low ball, to me at least. I owe about 22ish, so my negative equity would be crazy. I found this 5.0 11k 2013 for 24,900, good price I guess but they want to offer me 13K which I can't do. Is my car really worth that value am I missing something here lol I look on their lot and see a 2005 4.0 with 68K for 12,900, something is wrong here...Anyway or I was also thinking supercharger possibly? Would that be a lot of money to thro at a car with 60K worth in dealerships minds 13-15k? Or just wait make more payments and go from there? I had the. At for about 2 1/2 years now. I want more power! Thanks guys

Nuke

Believe it or not, your trade in value is about $14k and private party sale is about $16k, which surprises the hell out of me.

After 2 1/2 years, how the heck do you still owe $22k on a car you paid $24.9k for???

IMO, you're already underwater and with a 5.0, you'll be chin deep to a giraffe.

SkyWitit23

What's up nuke!

Yes after looking on KBB I do see that, still mind blowing that I see these dealers selling the 3.7 for 18 and up.. Actually nuke I financed 33k I had rolled negative equity in this car, plus the extended warranty and gap and all the good stuff. I thought honestly near the 3 year mark I would have caught up a lot on what I lost from my last car. My interest rate on this was a lot lower, new 3.7 from my 4.0. So I thought by trading it in It would make a better out come down the line then sticking with the 4.0, but looks like that didn't work lol..

I really do love the 5.0 but looks like it's out of reach for now. Like I said I was thinking of supercharging but I don't know if that would be a good financial move on my car? Maybe take that money and out it down on the 5.0? What's your take?

outceltj

6 year loan????????

outceltj

Keep the car ur digging urself into a hole

SkyWitit23

8 year loan (I know holy ****) 6% my payment is 505 I give around 560-570 a month sometimes more if I can. I wasn't worried about the duration because I'm paying more each month so that would decrease as time go on and the goal was to have a better trade when the time came rather then my 4.0.. In any case I'll have negative equity not as much as I thought would be there.. So option one would be get a Supercharger or two make more payments for how ever long and put money Down to get a 5.0 which by that time will be a 2015.

BKamp613

No offense, but I'm curious...how old are you?

You rolled neg equity from a previous car into your '12 and now want to roll more neg equity into another car? This had bad news written on it from before you bought your '12. Have you owned a car outright or been above water at all...ever? Not trying to be a d!ck.

Forget the 5.0 for a few years and get your finances in line.

SkyWitit23

Hey BK, it's cool dude, I'm 27. Yes I did, but your kinda missing the point, what I'm trying to say Is I wasn't trying to roll negative equity into another car (5.0) I thought the plan I had set before getting the 12 from my 10 would have put me in a good position to get a 5.0 with some cash down to start or near clean slate again or very close near it, I thought my 4.0 would have really taking a hard hit when the 3.7 came out, plus the better rate and so forth. That's why I made the choice of doing what I did before hand, to NOT be in the position I am in now. But unforchanlty it is what is. So I'll just keep trucking along

And no I have not been above water I've been playing the catch up game lol I made the mistake when I traded in my 08 for the 10, that's is where I screwed up, so being financially better, smarter, I thought by getting into the 12 new motor higher package then my 4.0, older motor, base package, better rate and paying more monthly would have put me back above water in a sense.

BKamp613

Your intent/plan to not be in a bad spot financially doesn't change the fact that you are. If your plan wasn't working with the '10, then the '12, ditching that for a GT and being further in debt isn't worth the power of a 5.0 and certainly isn't helping your plan of being smarter financially.

I know the feeling of being in the "I like what I have...but I could get this" position. It's hard to shake. But being in that much debt on a car when you're under 30 (I'm 28) doesn't make sense to me.

wekenav8r

I think the smart move would be to take the 3.5K - 4K cost of the supercharger and put it against your car loan. Getting above water would be my first move, and this would equal about 7 or 8 months of payments. This would get you much closer to the 5.0