Trading in FRS questions
 

I have a 2014 Automatic White FRS with around 27k mileage on it, and I'm getting bored of the transmission and was wondering if there was anyway possible that I could head to the dealership to get another used manual subaru brz? I have ownership to the car, but my mother was the original person that purchased it. I am a college student with no credit, is this possible?

is the title in your name?

First: Call up the used car factory and have them build / deliver the vehicle to your dealer of choice.


Second: Call Mom to have her meet you there and co-sign.


Third: Instantly regret the first two decisions. If mom and dad bought you a nice car.... continue driving happily through college until you get a job and build your own credit.

Yes it is in my name

I actually do have a job as a server, but it's for some reason under the table so no credit..

Nope it's your mom's car. Now if you took mom and she signed over the title and signed a new one yes. By yourself no

I have a piece of paper that says I have the title under the car.. do I still need her to be around for me to trade it?

All you, but I wouldn't have bought it if I were still a college student. A $8k Corolla or Civic would have outperformed this car in college.

My recommendation is pay it off, graduate, then get a new car. By then BRZ's will be like $10k or the new refresh models will be out.

If you really want to get rid of it, then be prepared to either:

I. Get a huge APR like 10%+
II. Hurt your mom's credit

Go to a credit union, then refinance if you can. Save $2-3k to do this. Get your mom off the title. Then do whatever you want.

Now, if you want to build some credit, keep the car for a year (IMO). In the mean time, get a part time job or work study job, open 2-3 credit cards, use them until you owe $250 on each and make minimum payments for approx 8 months. Should have a decent credit history and score by then.

The cars fully paid for! Thats why I have ownership to the car haha. Makes sense though, I've just been interested in driving a stick because my first car was a stick and I'm just bored of it haha didn't mean to anger anyone.

or Find someone who has a similar model in manual and trade?

Then yeah, just trade it in. Be prepared to be ripped off. No offense to dealerships, but thats how it is. I'd save about $2k still for a down payment in paying some of the difference of the car 'trade.'


You'll regret it some day. I've always regretted going from auto to manual and vice versa for one reason or another. LOL it is what it is.

If it's a no loss trade for the dealership, I suppose you could if no cash is owed and your free and clear. I'd at least ask my gracious parents about it first before I did something underhanded but it is your car. Wax over this though. You would be driving a sweet ride like that just by working as a server. Be grateful

I think his car is paid for

If mom and dad are cool, you should have no problem trading. You may have to settle for more milage but you won't get a new one. I bought my manual for 15 but it also had 43k on it and it's a 2013. I get bored as hell too. Good luck and I can't believe you don't know any more about business being in college. WTF are they teaching yall today!

I used to sell cars. It is super easy. They give you ~10K for your current car (my guess) then you pay ~20K for a used one (but still owe 10K on the first one let say) so you end up financing 30k at 6-10% having no prior credit. You will build your credit and get the car you want, its only money.

Yeah, you might want to not work there anymore.

Also, find a credit card with no annual fee. ONLY use it for stuff you would buy anyways--groceries, gas, etc. Never use it to buy something you can't afford to buy with cash right then and there. Pay it off every month. Start building that credit.

TAKE HIS ADVISE!!! I owe like 14k in debts currently + the car I still owe money on. That being said I couldn't be happier with my car :lol:

You are making a right choice,,i am proud of you.

talk with your mom about it,,you probably can trade it without down pay anything.
Cus you said you have the ownership, i hope you mean paid off.

A decent way to build credit is to get financing on something stupid like a Panasonic microwave. Finance it and clear it in one lump sum after making a few payments, that's normally a good credit boost to start.

That's how I end up with guitars and car parts though :)

I should've taken my own advice before going to grad school. $96k in student loans later...

LOL mines all car parts. I gota get on that ramen diet @Guff is on so I can afford to feed my addiction now that all my cards are maxed out

Shit man!! I am glad I got my student loans paid off. I only did 2 years and dropped out so I got nothing to show for it lol

No verifiable income? Good luck on getting a car loan for any amount.

I wouldn't do it. If the car is paid off like you said their is no reason to go back into debt. Just save your money and enjoy the car. Save your money and maybe your next car can be a manual

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Nothing against you OP, but I want to facepalm the shit out of myself.

Yep, I agree, I just wanted to reinforce this thought.......:)


humfrz

If you really want a manual, sell your current car in the private market. Fair estimate will be 16-18k and used that cash to buy a used manual BRZ. If you do go the dealership route be prepared to loss about 5k in net worth.

But you have a good career right?....ehhh right?

Save up a bit and buy a cheap beater (e30/36, Miata, etc) to satisfy your want for a 3rd pedal. I love my AT FRS but missed shifting occasionally sk went and got a 2005 MR2 Spyder to go along with it. Best choice I could have made (granted this was me gaining debt when I think you should just buy something outright given the circumstances or wait and buy a $10k car to build your credit)

I think everyone is missing the point that the op is debt free of this car. Mommy and daddy bought it for him and he's not happy with it. I'd be very happy with it if I was in his shoes. Bet not many folks in college drive brand new cars, but they probably do. College has definitely changed. Our parking lot was full of beaters except for a few rich kids, who also had boats attached to their cars lol. I'm pretty sure mom and dad would smack him around if he traded that car without their knowing. Sure the insurance is in their name. My question, why not buy a manual in the first place

after some sputtering, mostly yeah. not what I expected, but yeah.

definitely not the best place for financial advice as I am reading this...IMO I say keep it and enjoy it then when you're out of college then get something else. Just enjoy, no point in trade in headaches and getting hurt on low appraisals, and then a new payment. just rock what you have.

keep the car and build up your own credit once you've graduated from college. you're fortunate to have parents who bought the car for you. you'll have a car payment even though you do a trade in for a new one. the car will always be there. be responsible and grateful that you have a new car. not many college age kids out there get a freebie new car. then again if your parents are loaded with millions of bucks to burn then that's another story. just saying.....

this ^^^ all day

"Mommy and daddy"? Do you even know how I got this car and the reason why It was automatic in the first place? I had no credit as a college student, needed a car because my car broke down, took a loan out and used my moms credit to buy this car. I have fully paid for this car on my own, so don't treat me as an inferior just because I had my mom sign for me. I got an automatic is because I assumed when I was living with my mother, she would need to use the car too, but in reality, she didn't. I do not live with her anymore, got bored of the car and decided to trade it. But after reading these posts it does seem extremely tedious, and I will probably wait until I graduate college to do anything.

My apologies. I thought you were just another spoiled brat.
Trade it in on older one, you should experience no loss

I would still say trade it man, even add little money. Because you are missing all the fun. My past few years were driving an automatic and i think its a waste.

Might this have been RichardsFRS's ...... college car ?? ....... :D




humfrz

That was mine while attending college!

And I was about 20 pounds lighter too!