Thread: What To Do...
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Old 09-06-2012, 11:00 AM   #20
Tanuki
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I didn't read all of the posts, so I am sorry if some of this was covered.

Here is what I would do in your situation:

Go in and get paperwork from the dealer showing what they would give you on a trade. Have their used car manager or whoever write it up. If they are willing to go close to the value, go ahead and order the car. Keep in mind that in most if not all states, your trade in value also detracts from total sales tax on the vehicle, so it really is all an equation you will have to work out and see if it is worth it to you.

The other option is to order the car and just try selling yours. I didnt look up the value of your car, but NADA is what most banks go off of. I would see what similar examples of your car go for in the local classifieds as well. Where that is a really common car, it may be hard to sell privately though. BUT I would try to sell it private party while the new car is on the way. If you find a buyer close to your arrival date of the FRS, you can do an in and out with the vehicle which will also save you the sales amount of the car from the taxes you will pay on the FRS.

When it comes down to it, this is not about the money, it is about the opportunity cost and what it is worth to you. If the rollover from your car offsets the price "X" amount of dollars, it really depends on if that car is what makes you happy for that $ amount. Don't worry about how much my payment is, or your buddy's payment, just look at your budget and see if it is worth it to you.

In the end, there are practical people and car people. Practical people look at a car as a tool and nothing more. They worry about MPG's, Heat, AC and maybe luggage room. Car people love cars. They may not always be practical about what they have, but the car is an obsession/ love. I always set a car budget and realize that the car budget will detract from the hobby budget as well because the hobby is the car.

Anyway, the choice is up to you and really just depends on how bad you want it. Anyone telling you to be patient for financial reasons are also slightly hypocritical because what makes financial sense, is to wait for a used version of the car. You just have to draw your own line as to what really is "Worth it" in your eyes.

Oh and if you are doing rollover from the trade in, just make sure you get GAP insurance enough to cover the value of the rollover, many will.
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