It's over... have to sell the EVO.
Jul 12, 2007, 06:25 PM
#17
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Sh***y situation. If you like your old man then keep paying it until you can't pay it anymore and then try to sell it. Or just sell it now and try to get most of your cash back.
On the other hand if you don't care about your pops, as far as anyone here including myself is concerned, you just got the keys to a free evo. SOLID!
On the other hand if you don't care about your pops, as far as anyone here including myself is concerned, you just got the keys to a free evo. SOLID!
Jul 12, 2007, 06:47 PM
#19
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Go to the bank and explain to situation to a loan officer. Like others have said, you'd be surprised at what a bank will do for a military member. Offer to have the loan paid via an allotment so they know it will come directly from dfas the 1st of every month. The bank would rather continue to get their money back then risk having to repo it. You could try NFCU if your a member, but they have a pretty tight debt to pay ratio, which usually only favors officers or senior enlisted. Good luck!
Jul 12, 2007, 06:49 PM
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What the heck kind of post is this? Who needs the opinions of others in a personal situation like this? If you cant afford the car then sell it.Only you know your options.Maybe you needed posts or something I dont get the thread.
Last edited by ImJoey; Jul 12, 2007 at 09:52 PM.
Jul 12, 2007, 07:26 PM
#21
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Relax, guy. If you really want to ask me questions about my butt you can PM me I guess.
This is just a weird situation for me and I'm curious what my options are. Thanks to all of you who offered something constructive.
On keeping the evo: I would really love to, but I wasn't planning to pay the entire remaining 30-some months left on the loan. I can't afford all of that and I'm not sure what kind of financial situation I'll be in by then. I was originally planning to just hold it for my father and enjoy it while I had it, for the time being. But now it's just here in my possession.
On my dad's credit: I doubt he gives a **** about his credit because he's never coming back to the states. Not sure if I just want to ride around in the car like I stole it though..
On parting the car out: Are you guys talking about taking it back to stock or actually chopping it up? That sounds kind of shady (not ruling it out, but just saying...)
This is just a weird situation for me and I'm curious what my options are. Thanks to all of you who offered something constructive.
On keeping the evo: I would really love to, but I wasn't planning to pay the entire remaining 30-some months left on the loan. I can't afford all of that and I'm not sure what kind of financial situation I'll be in by then. I was originally planning to just hold it for my father and enjoy it while I had it, for the time being. But now it's just here in my possession.
On my dad's credit: I doubt he gives a **** about his credit because he's never coming back to the states. Not sure if I just want to ride around in the car like I stole it though..
On parting the car out: Are you guys talking about taking it back to stock or actually chopping it up? That sounds kind of shady (not ruling it out, but just saying...)
Jul 12, 2007, 09:11 PM
#22
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Sorry about the situation, but look at it this way. You got to rent a Evo with no money down, and no ties to the loan. I'd say beat the hell out of it until your sick of paying monthly, then let the bank repot it. And your never gonna get anything from the payments you made, other than getting to drive an Evo.
Jul 12, 2007, 09:37 PM
#23
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you better ****ing enjoy that free car. if not, strip it completely, sell of all parts you can get off of it, and make some money from the car (engine, seats, ect ect)... then let the bank repo it. They cant touch you for it... and your dad obviously could care less... lol
J/K
Jul 12, 2007, 11:59 PM
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I'm amazed (but not really surprised) at some of the suggestions in this thread. The most responsible thing to do is to sell the car, and attempt to get any money above what the payoff is.
If it's a 60 month loan at 9% (assuming your father has ****ty credit) the amortization schedule would show you still owe about $19,000 on the car. That would also equate to an approximately $700/mo payment. That's assuming he put no money down on the car also. If he put 2,000 down on the same car it would put you at about $664/mo and $17,700 owed. You could easily get 24-25k for a IX MR, put that extra money in your pocket, buy another EVO and have a monthly payment in the $400 range if that's what your looking to do.
Good luck,
Dan
$34500.00 $716.16 9.0000% $8469.60
If it's a 60 month loan at 9% (assuming your father has ****ty credit) the amortization schedule would show you still owe about $19,000 on the car. That would also equate to an approximately $700/mo payment. That's assuming he put no money down on the car also. If he put 2,000 down on the same car it would put you at about $664/mo and $17,700 owed. You could easily get 24-25k for a IX MR, put that extra money in your pocket, buy another EVO and have a monthly payment in the $400 range if that's what your looking to do.
Good luck,
Dan
$34500.00 $716.16 9.0000% $8469.60
Jul 13, 2007, 06:21 AM
#27
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Sorry to hear that man. Good luck with whatever you choose. Can be tough when family is involved like that. I would look into some of the suggestions others gave you. Good luck.
Jul 13, 2007, 06:46 AM
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Strip off all identification things VIN# so on and so forth.. and race it. What do you think they do with bikes when they steal them. strip them down sell the parts and sometimes even race them. Just kidding.