Question:
i have a 2006 dodge stratus sxt. and the payments combined with the insurance is just way too high. ive had the car since july 06. im paying over 350 per month for both car payment and insurance. is trading this car for a used one a good idea or should i just shop for new insurance(ive tried calling around, but due to points on license and not a great credit score, im not gonna find anything better. so far aig insurance has the best deal for me.so i may change to them). i dont want all my money tied into a car
Answers:
what are the perks over a used and a new car is it better to get used or new and why?
You could, but you'll have major negative equity and some dealers won't even want to deal with you. If you paid about 21,000 for your Stratus and stretched the payments over 72 months (6 years), you haven't paid much of anything toward the principal of the loan. According to Kelley Blue Book, the least you should get on trade-in $10,000. So even if you buy a $10000 car, you'll have around $10,000 in negative equity (provided my example of $21000 purchase price holds true) turning your $10,000 car into a $20,000 loan.do yuo have a 2cv az for sale??
Now, you've got a $20,000 loan on a used car that was $10,000 when you bought it and becomes $8,500 (or less) when you drive away. Now, you have a $20,000 loan on a car with a trade-in value of $8500. Plus, on a used car, the most you can go is 60 months financing. FYI, most dealer will not touch a deal with this kind of negative equity.
Stick it out with the Stratus for a few years. This is why it pays to really crunch numbers and research when buying a car. I don't know what your income is, but $350/month for a new car AND insurance is pretty cheap.
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new insurance check out http://www.metacafe.com/watch/345968/bru...If you can find a cheaper insurance rate then I would keep the new car.
Is 1000miles in one week too much?
Firstly, You will loose a fair chunk of change if you decide to trade-in or sell your 06 stratus. Secondly, if you get into a used car you don't know about hidden problems and it may cost you more in the end to repair these issues than holding onto your 06 Stratus which has warranty!
do you think i should buy this car or look else where?
Also, do you have a significant other that has a better driving record that you could place as primary driver of this car and you as occasional??
Good Luck
Can i trade in a car i owe on?please help?!?
I think tryng to sell it and paying the difference to the bank and getting a beater car for 10 or so monthshttp://www.daveramsey.com/etc/lms/drive_...
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