What makes more sense keeping the evo or selling it
Nov 14, 2006, 08:06 PM
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What makes more sense keeping the evo or selling it
Ok here is my situation, i currently have a 2005 gsr with 27,000 miles .
I put 6,000 down on the car and have been paying 680 a month not even including insurance for the past 18 months. I also have invested over 4,000 in mods and maintenance. I owe 25,000 on the car and dealer trade in is very close to that .
So i have 21,840 of money i have spent on the evo in the past 18 months.
Now the car needs tires , clutch , brake pads , about 2500 more
I really wanna keep the evo but everyone around me ( wife , family , freinds , ) wants me to get rid of the thing . Most expensive car i have ever had in terms of maintenance. And paying 13.9 interest doesnt help either .
I was gonna get another honda again and put a k20 in it and go from there .
Figure that a motor swap would be 3,000 - 4,000 installed and the car itself maybe 5,000- 7,000. So i would be looking at 8000- 11,000 for a 12 sec civic thats paid for in cash with no payment . Help me out on this guys what should i do pay close to 1,000 a month for my evo including insurance . Or get a car cash and save my extra 1,000 a month and maybe get a house
I put 6,000 down on the car and have been paying 680 a month not even including insurance for the past 18 months. I also have invested over 4,000 in mods and maintenance. I owe 25,000 on the car and dealer trade in is very close to that .
So i have 21,840 of money i have spent on the evo in the past 18 months.
Now the car needs tires , clutch , brake pads , about 2500 more
I really wanna keep the evo but everyone around me ( wife , family , freinds , ) wants me to get rid of the thing . Most expensive car i have ever had in terms of maintenance. And paying 13.9 interest doesnt help either .
I was gonna get another honda again and put a k20 in it and go from there .
Figure that a motor swap would be 3,000 - 4,000 installed and the car itself maybe 5,000- 7,000. So i would be looking at 8000- 11,000 for a 12 sec civic thats paid for in cash with no payment . Help me out on this guys what should i do pay close to 1,000 a month for my evo including insurance . Or get a car cash and save my extra 1,000 a month and maybe get a house
Last edited by EVOIX4me; Nov 14, 2006 at 08:12 PM.
Nov 14, 2006, 08:10 PM
#2
Sell the thing and get a beater and clean up your mess. How in the world are you paying $680/month on a GSR when you put $6k down? I'm assuming you were upside down bigtime on your trade-in?
Nov 14, 2006, 08:13 PM
#3
Tough situation there...that is one hell of a monthly payment and you're getting raped on the interest.
HOWEVER, $4,000 in mods and maintenence is quite a chunk of change. You've obviously put a lot of time and money in the car and I would imagine you enjoy the car very much? I vote to keep it because if you do get rid of it, you'll just think about how much you loved it and you'll wish you had it back. It's only until you get rid of it and start driving something else, that you will realize you should have kept it.
Who cares if your friends/family want you to get rid of it, it's YOUR car...KEEP IT!
Good Luck with the decision
HOWEVER, $4,000 in mods and maintenence is quite a chunk of change. You've obviously put a lot of time and money in the car and I would imagine you enjoy the car very much? I vote to keep it because if you do get rid of it, you'll just think about how much you loved it and you'll wish you had it back. It's only until you get rid of it and start driving something else, that you will realize you should have kept it.
Who cares if your friends/family want you to get rid of it, it's YOUR car...KEEP IT!
Good Luck with the decision
Nov 14, 2006, 08:16 PM
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Originally Posted by Yodobashi
Sell the thing and get a beater and clean up your mess. How in the world are you paying $680/month on a GSR when you put $6k down? I'm assuming you were upside down bigtime on your trade-in?
Last edited by EVOIX4me; Nov 14, 2006 at 08:18 PM.
Nov 14, 2006, 08:22 PM
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Originally Posted by MasterNater
Tough situation there...that is one hell of a monthly payment and you're getting raped on the interest.
HOWEVER, $4,000 in mods and maintenence is quite a chunk of change. You've obviously put a lot of time and money in the car and I would imagine you enjoy the car very much? I vote to keep it because if you do get rid of it, you'll just think about how much you loved it and you'll wish you had it back. It's only until you get rid of it and start driving something else, that you will realize you should have kept it.
Who cares if your friends/family want you to get rid of it, it's YOUR car...KEEP IT!
Good Luck with the decision
HOWEVER, $4,000 in mods and maintenence is quite a chunk of change. You've obviously put a lot of time and money in the car and I would imagine you enjoy the car very much? I vote to keep it because if you do get rid of it, you'll just think about how much you loved it and you'll wish you had it back. It's only until you get rid of it and start driving something else, that you will realize you should have kept it.
Who cares if your friends/family want you to get rid of it, it's YOUR car...KEEP IT!
Good Luck with the decision
Yes i do love my evo , probably more than my wife sometimes
. And i agree that it would suck to say i had a evo and miss it and i know i wish i would have it back . And i hate having to watch my evo everynight worrying about it getting jacked
Nov 14, 2006, 08:24 PM
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I have sunk alot of money in my EVO and my payments and insurance suck. I am starting to have tranny problems (car has been drag raced alot) and have thought about selling it, but everytime I drive it I change my mind. I am just going to get a Shep tranny and keep it. I think you will regret it if you sell it. I vote keep it, to hell with a Honda. It's your decision. Good luck with whatever you decide.
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Nov 14, 2006, 08:28 PM
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Originally Posted by EVOIX4me
My credit score was only about a 580 and was about 2,000 upside down on trade in. I also had a paid repo on my credit back from 1997. I sell cars for a living so 13.9 with my credit situation is very fair . I guess i could have saved a few thousand more though off msrp
Nov 14, 2006, 08:32 PM
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Um wow...ok... couple options I'd suggest....(assuming debt is your issue)
1. you keep the car, spend every dime paying down your debt in order to raise your FICO, get a credit union acct rapid rescore and refinance. Thats a really high APR/pmt but looking at your mods, you can afford it.
2. I would definitely be careful if you plan on selling it for the reason of your losses. A cheaper car would may save you some hurtin but you'd be adding to the problem with the debt.
3. A house is WAY more beneficial to own and if you REALLY can afford it (youre probably gonna get SCREWED with that FICO) go for it. But if you refi that you may be better off a few years from now. Do A LOT of research before you choose this option. (i cant emphasize this pt enough)
EDIT... seeing the post above...apparently debt isnt your issue
1. you keep the car, spend every dime paying down your debt in order to raise your FICO, get a credit union acct rapid rescore and refinance. Thats a really high APR/pmt but looking at your mods, you can afford it.
2. I would definitely be careful if you plan on selling it for the reason of your losses. A cheaper car would may save you some hurtin but you'd be adding to the problem with the debt.
3. A house is WAY more beneficial to own and if you REALLY can afford it (youre probably gonna get SCREWED with that FICO) go for it. But if you refi that you may be better off a few years from now. Do A LOT of research before you choose this option. (i cant emphasize this pt enough)
EDIT... seeing the post above...apparently debt isnt your issue
Last edited by boostless; Nov 14, 2006 at 08:35 PM.
Nov 14, 2006, 08:36 PM
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Originally Posted by EVOIX4me
Ok here is my situation, i currently have a 2005 gsr with 27,000 miles .
I put 6,000 down on the car and have been paying 680 a month not even including insurance for the past 18 months. I also have invested over 4,000 in mods and maintenance. I owe 25,000 on the car and dealer trade in is very close to that .
So i have 21,840 of money i have spent on the evo in the past 18 months.
Now the car needs tires , clutch , brake pads , about 2500 more
I really wanna keep the evo but everyone around me ( wife , family , freinds , ) wants me to get rid of the thing . Most expensive car i have ever had in terms of maintenance. And paying 13.9 interest doesnt help either .
I was gonna get another honda again and put a k20 in it and go from there .
Figure that a motor swap would be 3,000 - 4,000 installed and the car itself maybe 5,000- 7,000. So i would be looking at 8000- 11,000 for a 12 sec civic thats paid for in cash with no payment . Help me out on this guys what should i do pay close to 1,000 a month for my evo including insurance . Or get a car cash and save my extra 1,000 a month and maybe get a house
I put 6,000 down on the car and have been paying 680 a month not even including insurance for the past 18 months. I also have invested over 4,000 in mods and maintenance. I owe 25,000 on the car and dealer trade in is very close to that .
So i have 21,840 of money i have spent on the evo in the past 18 months.
Now the car needs tires , clutch , brake pads , about 2500 more
I really wanna keep the evo but everyone around me ( wife , family , freinds , ) wants me to get rid of the thing . Most expensive car i have ever had in terms of maintenance. And paying 13.9 interest doesnt help either .
I was gonna get another honda again and put a k20 in it and go from there .
Figure that a motor swap would be 3,000 - 4,000 installed and the car itself maybe 5,000- 7,000. So i would be looking at 8000- 11,000 for a 12 sec civic thats paid for in cash with no payment . Help me out on this guys what should i do pay close to 1,000 a month for my evo including insurance . Or get a car cash and save my extra 1,000 a month and maybe get a house
13.9% holy ****!! thats kinda high
Nov 14, 2006, 08:45 PM
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Originally Posted by EVOIX4me
Ok here is my situation, i currently have a 2005 gsr with 27,000 miles .
I put 6,000 down on the car and have been paying 680 a month not even including insurance for the past 18 months. I also have invested over 4,000 in mods and maintenance. I owe 25,000 on the car and dealer trade in is very close to that .
So i have 21,840 of money i have spent on the evo in the past 18 months.
Now the car needs tires , clutch , brake pads , about 2500 more
I really wanna keep the evo but everyone around me ( wife , family , freinds , ) wants me to get rid of the thing . Most expensive car i have ever had in terms of maintenance. And paying 13.9 interest doesnt help either .
I was gonna get another honda again and put a k20 in it and go from there .
Figure that a motor swap would be 3,000 - 4,000 installed and the car itself maybe 5,000- 7,000. So i would be looking at 8000- 11,000 for a 12 sec civic thats paid for in cash with no payment . Help me out on this guys what should i do pay close to 1,000 a month for my evo including insurance . Or get a car cash and save my extra 1,000 a month and maybe get a house
I put 6,000 down on the car and have been paying 680 a month not even including insurance for the past 18 months. I also have invested over 4,000 in mods and maintenance. I owe 25,000 on the car and dealer trade in is very close to that .
So i have 21,840 of money i have spent on the evo in the past 18 months.
Now the car needs tires , clutch , brake pads , about 2500 more
I really wanna keep the evo but everyone around me ( wife , family , freinds , ) wants me to get rid of the thing . Most expensive car i have ever had in terms of maintenance. And paying 13.9 interest doesnt help either .
I was gonna get another honda again and put a k20 in it and go from there .
Figure that a motor swap would be 3,000 - 4,000 installed and the car itself maybe 5,000- 7,000. So i would be looking at 8000- 11,000 for a 12 sec civic thats paid for in cash with no payment . Help me out on this guys what should i do pay close to 1,000 a month for my evo including insurance . Or get a car cash and save my extra 1,000 a month and maybe get a house
Nov 14, 2006, 08:46 PM
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Originally Posted by boostless
Um wow...ok... couple options I'd suggest....(assuming debt is your issue)
1. you keep the car, spend every dime paying down your debt in order to raise your FICO, get a credit union acct rapid rescore and refinance. Thats a really high APR/pmt but looking at your mods, you can afford it.
2. I would definitely be careful if you plan on selling it for the reason of your losses. A cheaper car would may save you some hurtin but you'd be adding to the problem with the debt.
3. A house is WAY more beneficial to own and if you REALLY can afford it (youre probably gonna get SCREWED with that FICO) go for it. But if you refi that you may be better off a few years from now. Do A LOT of research before you choose this option. (i cant emphasize this pt enough)
EDIT... seeing the post above...apparently debt isnt your issue
1. you keep the car, spend every dime paying down your debt in order to raise your FICO, get a credit union acct rapid rescore and refinance. Thats a really high APR/pmt but looking at your mods, you can afford it.
2. I would definitely be careful if you plan on selling it for the reason of your losses. A cheaper car would may save you some hurtin but you'd be adding to the problem with the debt.
3. A house is WAY more beneficial to own and if you REALLY can afford it (youre probably gonna get SCREWED with that FICO) go for it. But if you refi that you may be better off a few years from now. Do A LOT of research before you choose this option. (i cant emphasize this pt enough)
EDIT... seeing the post above...apparently debt isnt your issue
Nov 14, 2006, 08:50 PM
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Originally Posted by EVOIX4me
If we did decide on the house it would be in my wifes credit wich is excellent so im not worried there. And no she wont refi my car for me cause she hates the dam thing
j/k, good luck with whatever you decide to do.
Nov 14, 2006, 08:51 PM
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Originally Posted by EVOIX4me
If we did decide on the house it would be in my wifes credit wich is excellent so im not worried there. And no she wont refi my car for me cause she hates the dam thing
Nov 14, 2006, 08:53 PM
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dont mean to thread jack, but im kind of in the same pickle. I got my evo this feb, and MITSU is raping me on the interest, 12.9%. Im paying 600 a month for the evo. The dealer has failed to keep their promise of fixing my rear bumper(9 months now) and everytime i go to service dept. they ignnore me, puente hill! suks!
anyways, you think i would be able to trade in my car for another? i will have a year with the car on feb. The car needs a new tranny, and the dealer has denied warranty.
Evos are nice, but the warranty sucks1 service sucks! PUENTE HILLS SUCKS!
anyways, you think i would be able to trade in my car for another? i will have a year with the car on feb. The car needs a new tranny, and the dealer has denied warranty.
Evos are nice, but the warranty sucks1 service sucks! PUENTE HILLS SUCKS!