Lately, I've been seriously considering selling my car. There are a number of reasons why, but the main one being I'm having a hard time justifying spending more than half my income a month on this thing.

Don't get me wrong, I love my car, there's nothing wrong with it, and it's been a dream come true. It all started when the car got broke into last winter, and I had to take out additional financing for the car. I also wanted to buy a new daily driver a couple months ago, once again, I refinanced my car loan to get the cash.

Had I not refinanced both times, I'd have the car over half paid off by now. I was also expecting another large sum of $$ from someone I sold a car to a couple years ago, but he's since blown me off.

So here I am, looking at another 2.5 years of paycheck to paycheck life, with almost no extra spending $$. My parents are selling their home and if I didn't have the car, I would have a very good chance at financing for it.

The car was origonally supposed to be my daily driver and was for the 1st few months I owned it until winter came. The one owner, low mileage car is absolutely pristine (or will be after the paint job), and just doesn't deserve a life of parking lot & stop-n-go traffic abuse. I've put maybe 3000 miles on the car since I've baught it, never taken the track (by me anyway), and is driven rather mildly. In my opinion, that's not how a car like this should be used. It's a waste. ...but I just can't afford to be rebuilding the tranny and replacing tires all the time.

Anyone care to comment?

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06 Blue EVO 9

Can you sell it for more than the loan?

If not you might be better off keeping the car.

An article with arguments that might apply.
http://www.bankrate.com/brm/news/debt/20041201a1.asp?prodtype=auto

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1992 3000GT VR-4
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3SI Member 0660, 1753, 2038
W3SI Member 15

I can believe it's hard to justify in your current situation.

I guess you have a few options.

1. Sell the car outright. Get some cash for it and payoff the remained of the loan. Of course, if you sell, you have to ask yourself: Would you regret it and want to buy another come next summer?

2. Sell the car and buy a cheaper 3/S so you can toy around with someone but not have the burden of the loan itself.

3. Keep the car and turn it into a daily driver. Your tranny and tires won't go bad just from driving it around if you don't beat on it. You'll get a lot more enjoyment from the car by USING it than you will with it sitting and at least you'll get something out of those payments every month. If you don't plan on keeping the car for more than 1-5 years before you move on to a new project, then there's no sense in letting the car sit in a garage unused if you'll eventually sell it after a few years anyways. If you think you'd keep the car for more than 5 years and have serious long term plans, then keeping the mileage low and garaged is probably the better plan.

4. Keep the car as a summer ride only. Make payments begrudgingly and realize unless your income or lifestyle changes in the next 2.5 years, you'll be mumbling under your breath every 1st of the month. That grumbling will probably go away every spring and summer, but come back in fall and winter.

Either way, sounds like a tough situation. Keep us informed.

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Best in Show - NG07
2010 - 6G74/3.5L E16Gs - 688awhp/679awtq (Race+Meth)
2011 - 6G74/3.5L 68HTAs - 740awhp/762awtq (Race+Meth)
2013 - 6G74/3.5L MTC Stage4 - 908awhp/832awtq (Race+Meth)

That's what's going on right now. Honestly, I probably wouldn't even be thinking about this if my parents weren't selling their house. I do like my 2 jobs too, but it's the fact that I couldn't leave one even if I wanted to. It bothers me that Oscar Mayer is for sale, and I could potentionally loose my primary job next year as well.

I knew what I was getting into when I got the car. I knew there'd have to be several cut backs and somethings I'd have to hold off, but I wasn't prepared to have it drawn out this long.

I'm certain I can get what I want for the car, but it'd take time. Definately won't happen this time of the year to which it'd be too late to buy the house. Plus, like all my cars I've sold, I'm picky who I sell them to.

The thing is, I was planning on keeping this car for the long run, and I know I'll never find another one like it again. The car is almost irreplacable. When was the last time you saw a low mileage one owner 95-96 Stealth TT in comparable condition to mine? Maybe a few years ago? I had been shopping for over a year before I found this one.

hmm.... tough decision.

If it were me... I would either:

1. Sell it if you can get enugh to cover what you owe plus a lil bit extra. Then try and finance the house and then in a year or so buy another one and do the Home Equity Loan thing(ask Jesse).

2. Keep the car. Deal with the payments. And hope that your income increases(or atleast doesnt decrease) over the course of the next couple years. I wouldn't worry too much about the Oscar Meyer sale. By then you will have enough expirience that another job shouldnt be hard to find.

I'm leaning more towards #2 unless you can get what you want for the car. For me it would be too hard to get rid of something I love and has grown on me over the years.

Best of luck in whatever you choose to do.

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~Joe - aka spider gear destroyer
'94 Stealth R/T
-Lightly Modded ;)

Aaron suggested the same thing.

...but the car is irreplaceable. I mean, I can build another one like it, but it would take time and wouldn't be the same. Finding another "shell" just like it will be next to impossible, but you never know. A stock pearl white 96 TT might be in the market...

I know I would hate myself if I sold this car just like when I sold my 1st Talon. Especially after the paint job (which will be revieled at the next UMG).

Your insurance didn't cover the break - in? that sucks.

Cars have expenses, and our cars especially... It comes with the territory. (even more so if you want to make them go faster)

But the question is should you sell your car, and the it seems that the reason you don't want to is because it's irreplacible. You have to ask yourself, is it really that rare?

If it is you probably want to hang on to it, especially if right now it is where you want it to be performance and style wise.

However, if you have the knowledge to build any car to that level, and maintain the car if you do get higher miles, it seems to me that it's not that irreplacible.

Not to mention that there is always a new best coming from dodge, mitsubishi, or what ever company you choose to follow. By not having a car loan, and by putting that money into a house, which seems to be more of an investment, you could get a "new best" later on, or build something up to be the same as what you got rid of.

Of course all this takes time, which is finite, and one extreme example of irreplacible. I think that if I was in your shoes I would man up and keep the car. Stop refinanincing the loan, though! If your like me just the smile when you get in it on a warm summer morning is worth the price.

But my opinion and a buck eighty five will get you a coffe at starbucks.

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Bad decisions make good stories.
Look at it! LOOK AT MY @SS AND TELL ME IT'S PRETTY!

I agree with Adam. I think the car is replaceable. And as you get older and have more funds available to you in the future, I don't see why you couldn't find another 3/S that was your ideal mate.

Granted, you have a hell of a car (indeed), but I think it's a little rash to say irreplaceable. With enough time and patience you can find them. Heck, my cousin Matt spent a few months looking for a 3/S and found a pristine, near-perfect (Ask Zoodled, he's seen it in person too) 95 VR-4 with only 45k miles, right in your hometown of Madison! I see low mileage, good condition 3/S' for sale from time to time between 3SI, autotrader, ebay, etc. I don't think it's far fetched at all to find another one. If you're only looking for a green 95 Stealth RT/TT, then yes, it'll be harder to replace, but you can't always get what you want exactly unless you pay to play.

I actually think my car is replaceable too. Finding another low mileage maroon one wouldn't be easy, but who says I'd stick with maroon? Or even a stealth? Who knows. I know if I had to sell it, or someone made me an offer I couldn't refuse, I'd eventually find another one I was happy with. And if you want one bad enough, you can always buy one that isn't for sale. That means paying MORE for it to wet their whistle and convince them to sell, but it's possible.

Don't get too down about the car. Take your time, make your decision. Whether you keep it or sell it, you'll probably second guess yourself for awhile - it's normal. I think you should keep it though, and hell, drive the hell out of it. You're young and working 2 jobs for that car. Enjoy it. Several years down the line, you could always buy an even nicer, cleaner, 3/S with lower miles that you want to use as your weekend warrior. Anyways.

Clue us in when you figure out the plan.
J

_________________

Best in Show - NG07
2010 - 6G74/3.5L E16Gs - 688awhp/679awtq (Race+Meth)
2011 - 6G74/3.5L 68HTAs - 740awhp/762awtq (Race+Meth)
2013 - 6G74/3.5L MTC Stage4 - 908awhp/832awtq (Race+Meth)

That pearl white VR-4 is cleaner than many that were on the show room floor at the dealer new.

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1992 3000GT VR-4
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3SI Member 0660, 1753, 2038
W3SI Member 15

Yes, I'm picky. I specifically want a 95/96. I'm worried that by the time I can afford another, it may be too late to find what I'm looking for. Know what I mean? My car is 10 years old already.

A good compromise might be a 95/96 Stealth RT. Hell, maybe I could talk an owner into a trade plus KBB value of my car. That would cut my payments more than 2/3rds. The HP is not what turns me on to these cars. I can build a DSM to run 11's for 6000. It's the ride and style. Or hell, instead of a paint job, I'd be getting a set of DR800's for my current car.

...but then again, my debt ratio might still be too high for a house.

I appreciate all the input guys! Thanks.

..

Greg,
I think alot of us as you can see have been at a "beat your head against the wall" point. Because if I didn't have that damn car and the payment to match I could buy a______. A house, a car that requires less overhead, a engagement ring, a 4-wheeler, a Harley, a big screen Tv ect.
There will always be something there to eat up your cash. In some cases it's better to jump ship and sell it and get a better foot hold and start over down the road. No there aren't to many 95/96's left with low miles but as you noted looks are important and you will be able to find cars down the road that are well maintained yet you could paint or fix up the exterior.
I think drive the car when you can and to hell with mileage! This car is about having fun and excess and getting chicks to look at you and to say
"Are you looking at me" , "I'll kick your ass and leave you whipering like a girly man" You get the point.
I say do what you have to do .
But remember once it's in your blood you'll will forever come back to owning one even if you do sell now.
Tim

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Is it true that cannibals won't eat clowns because they taste funny?
What happens if you get scared half to death twice?

You say "I'll kick your ass" to chicks? That's never worked for me...

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"Well-weathered leather, hot metal and oil, the scented country air,
Sunlight on chrome, the blur of the landscape, every nerve aware..."



meastie beastie

Not even the ones that like to be 'tossed' around...

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~Joe - aka spider gear destroyer
'94 Stealth R/T
-Lightly Modded ;)

This is my 3rd Stealth. DSM's have the same burden on me.

I finally got a chance to sit down with the woman and discuss our future. She, ironically, demands I keep the car. Even after all the grief I get from her over it, she said nothing against me keeping the car. I sold my 1st Talon after we started going out, and she reminded me of how I keep bringing up how I miss it. She said she's seen nothing that makes me happier than this car. Even the Talon I got to replace the 1st one (even though it was exactly identical to my 1st) it wasn't the same, and she feels the "next Stealth" wouldn't be the same either.

We both maybe working 60 hours a week, but she agrees that we're perfectly comfortable with where we are now. We couldn't have it any other way.

I've decided I need to find another job that will pay enough where I won't have to work 60+ hours a week. Shipping and recieving isn't what I spent $20K at school to do.

Thanks for all the comments guys!

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06 Blue EVO 9