hi, now im considering selling my IX mr. When i bought it i thought i could afford it, Well i can afford it im just getting to the point where im kinda strapped down with the payments and everything else...my payments are 650 a month....i know terrible.........I have been paying on it for almost a year now and have owned it for a little over a year. I love this car so much its pretty much my dream car....And i dont know what 2 do now.....its just getting to hectic for me to keep up these payments...can anybody give me any advice on lowering my payments...would refinance be the only option....and if so how much can it lower the payments....thanks for the help i really dont wanna get rid of it....please help....

 

Sell the car. Refinancing unless you have very high interest is not going to help.

 

^^^ I agree. Sell it.

At least you got to enjoy it for a year.

 

how long did you stretch the payments out for ?

 

Whats the point of having a fun car if you have to spend all of your time making money to make the payments?

If you can't afford it, you are letting the car own you, not the other way around. So sell it and get another whenever you can afford it.

 

thanks for the advice guys...i know deep down thats what i need to do...its just kinda hard to let it go...but i think im gonna have too...thanks again

 

my payments went from 550ish for 6 years (no downpayment, no trade in. financed everything at 8.9%). it was my first car ever, financed by myself. when i refinanced 1 year later, it took the payments down to 495 as well as reducing the number of payments i had to make by 2 (i'm now at 4.5%). maybe that will give you an idea of what refinancing will do for you.

 

Sell it and buy a used 2003 EVO 8. I bought mine 10months ago with only 23,000miles on it for $22,500 and my payments with no money down at 6% were only $390.