Financial advice about car loan

[djSlvt]

I have me an 01 mustang gt, 5 speed. I love the car. But don't have license to drive it. I might have a license in like 5 or 6 months, or might not have one.


I was making payments and can continue to do so. I can pay 0 next month, because it is that much paid for. I got low jack on it, full coverage insurance, and some dealer trix to pay for depreciation if it's a wreck.


Basically, I own for it right now how much same car in same condition would cost from private party. So if I sell it back to my dealer I'd clear my loan.


Should I do that?


I can pay the loan, no problem. But the car is staying outside, although covered, but still. It's a great car, I drove it today... I don't know if I should keep it? Should I keep it because I have no problems paying for it, and enjoy it so much? Or should I let it go because it's one more thing to worry about, with our hurricanes and stuff.


I don't know, I had this change of heart, for some reason I thought I get more if I sell it back to the dealer and then when I can drive I get me a FOX body saleen, or an 03-04 cobra.



P.S. It's been like this for over a year now, sitting in the lot. I watch over it and cover it, it's in the same condition as last year. Drives fantastic. I drive it from time to time, but with those bastard FHP, it's just a matter of time. I can't get caught again, I have a criminal case against me, waiting for jury selection.

 

[backbreaker]

if it's just a month fix, you can usually get this month pushed back to the end of the loan, giving you a month leeway.


If you can get rid of the car, get rid of the car. worse case senerio, you can use your credit, which will be good because you paid the loan, and go get another car. you were probalby going to be looking for another car soon anyway.

 

[Last Man Standing]

If you sell then sell it to a private party on craigslist and NOT a dealer - you'll get more money!

 

[blinkwatt]

What are you even worrying about the car for? You don't have a license to even drive a car with,get rid of the car. You have a criminal case against you,square that away then take care of the car issue if you have a license.

 

[backbreaker]

If you sell then sell it to a private party on craigslist and NOT a dealer - you'll get more money!

not necessarly

once you 1) get all the nooks and crannies fixed 2) get it professional cleaned up 3) pay listing fees 4) if the car doesn't sell in a month pay another car note 5) get talked down off the price... because you will


usually you don't make much more


01 Mustang.. what's the millage? if it's in good shape with under 80k miles, you can get a good value on it. now you aren't going to get book because the dealer is going to want to leave some room for misc fees the bank is going toa dd on to get the car financed, but you should get a decent amount

 

[Last Man Standing]

BB, dealers objective is to sell the car - which incorporates a mark-up for profit margin considerations - an individual desires the car and has no intentions of an immediate resell - so no profit is considered in his offer - all else being equal you will always receive a better offer from an individual vs. a reseller!

 

[djSlvt]

It's a 01 GT, 5-speed, coupe. Mach 1 front fender lip, and MGW shifter, other than that stock. Above good condition, with 25,000 miles.


My worry is, if I sell it to the dealer right now, will I have to pay off my loan and other bull sh1t out of my packet, or will the sale price cover all that and leave me some cash.


Fvck, I'd keep the car. But I want to know what is best for me financially.




Also because, if I keep the car, I'd get a job, pay it off sooner, and will have my own 01 GT I like to drive. On the other hand, if I don't have it, I get a job, and get me another one. Because, right now I own on loan right about same as buying from private party. I don't know, it's all so confusing to me.