Originally Posted by AimeeJ
Hah, gotta agree on the Superbird.
And I am selling, Zeracer, because it is choking me with the payments. We literally have no money at the end of the month because of it. Not to mention we are swimming in debt from some other issues that came up suddenly...so I will return to my old ZX2, if I can just sell this darn thing.
Go to carmax and see what they offer to buy it outright - they are pretty much in line with what 95% of the other car dealerships will offer you (at least in my area).
Unfortunately, the values have dropped...that's just part of the game.
If you can't sell it for what you owe, worst case, sell it for as much as you can and get a loan on the balance. This loan payment should be much less than the car payment, and easier to pay off, which should ease some of your financial burden.
This is only an absolute MUST sell situation as you are paying a loan on something you don't have. Obviously, your credit will have an affect on all of this as well. If you have poor credit, you may not be able to get a personal loan on the balance.
Things happen...and sometimes we are forced to unload things we thought we couldn't live without. It's a bummer, but it is better to take a small hit and pay for it for a year with payments as opposed to missing a few payments, getting a repo, and paying for it on your credit for the next 7+ years.
Then there is always the option of another job...Been there!
For the record - I would love to have a Superbird! If either of you are given one and 'wouldn't take it if it was given to me', send it my way.
SQ