To keep the speed6 or not?

[enjoy_]

I bought my 06 speed6 in 2007. It now has 67k and I still owe $16k. Should I keep the speed6 or not? She has her small issues with small rust and such. But should I sell her off for the amount I owe or ? Im torn and I would love to opinions!? Just bought a 2010 Evo too :/ Thanks in advance!

 

[wannabe]

yikes...you still owe 16k on a 4 year old car and you bought a new one? not to soundy judge-y...but keeping the speed sounds like a terrible financial decision...

 

[enjoy_]

Yep youre telling me..It was a terrible loan that I got

 

[element1290]

financially....sell the speed 6

 

[Tungsten6]

WTF???

why would you buy a new car when you still owe 16k on your current one? ummm wow is all i gotta say.

 

[viperman]

Sell the speed 6 and take control of your finances first.

 

[enjoy_]

My finances are well taken are of. Have you seen my garage (car domain)? A high interest loan is at fault here. But that's not the point.

 

[Tungsten6]

A car loan didnt make you buy the speed or the evo though....

 

[ajv915]

Having two cars is nice. I guess it depends what you want to do with each of them. It looks like you do a higher than average amount of driving. Personally I would try to keep one of those cars just for the weekend and run up the miles on the other. But they are both sporty fun cars, so I dunno which one I would want to garage.

 

[enjoy_]

A car loan didnt make you buy the speed or the evo though....

I needed a reliable car when I bought the Mazda. That Evo was sold to me at a huge discount and awesome loan. It was an offer no one would have refused.

 

[enjoy_]

Having two cars is nice. I guess it depends what you want to do with each of them. It looks like you do a higher than average amount of driving. Personally I would try to keep one of those cars just for the weekend and run up the miles on the other. But they are both sporty fun cars, so I dunno which one I would want to garage.

I have 5 cars. The Mazda got all those miles from doing lots of long disrnace driving trips. My altima is the dd. Sad to say but the Evo is better than the mazda for several reasons. It's just time for her to find a new owner now

 

[KrGsMrNKusinagi]

Sell the EVO period...

 

[Nachtsturm]

Sell the speed. At 70k miles though, I think getting your payoff will be difficult.

 

[sunshineFC]

Your upside down on the Ms6. You should have done a trade with the 6 when you got the Evo. Sell the 6, take the loss, and learn a lesson.
-a

 

[enjoy_]

Sell the EVO period...

Why?

 

[enjoy_]

Sell the speed. At 70k miles though, I think getting your payoff will be difficult.

Yep. I agree. I refinanced for a much lower apr and payment for the meantime. I don't see anyone buying it for the price and miles anytime soon.

 

[enjoy_]

Your upside down on the Ms6. You should have done a trade with the 6 when you got the Evo. Sell the 6, take the loss, and learn a lesson.
-a

I bought the evo from a private seller.I wanted to refinance the car a few years ago- I couldn't find a place. It was a bad time/economy.

 

[enjoy_]

Damn I'm just realizing all the negativity in this thread...

 

[MakeMeGoFast]

Not so much negativity as honesty. tends to happen a lot on this forum

If you got the Evo for a steal flip it, make a profit, take profit and put towards your upside down MS6

 

[enjoy_]

Ya true.
The seller took a huge hit. His loss was my gain. But I honestly should think about that.