trade for 04 Civic SI?

[Leppy]

i'm gonna talk him down a grand or so, and he said he'd help me out on the trade (and yes I trust him with good reason) IF he holds true and I get the better interest rate (which i know for sure I am cuz of my wife's Civic) I'll be paying less. This is all going on if the deal works, should I take it. I'll have a grand or so to put down, too.

 

[nate0123]

there are more factors than just the payment, unless you plan to keep the civic for the life of the loan

if you continue to ditch cars while you're upside down, you will just rack up more and more debt and have to compensate with longer and longer loan terms

 

[protege02]

if it lowers ur payments and doesn't put u in any financial problems, i say get the si. also, if it's a lower car note then get it. even if it's not as fast as the lx, u have alot of support in the aftermarket world and it's a honda on top of that. i think ur car looks real nice. i might be bias to the silver though because i wanted my car to be black or silver. if u dont keep the protege are u parting it out, such as sway bars, body pieces, and whatever.

 

[Leppy]

I might. If I do, i'll put the stock LX front end on. If I do that, i'll have a MP3 front end with PIAA fogs for sale. I can't part out the struts/springs/bars/exhaust because they were installed at the dealership before I bought the car. I could part out the 03.5 MSP wing and put my LX wing back on, too. and I could probably put my stock shifter back on and sell the B&M short shifter.

 

[Jliao]

Go for it! I love the current Si!

 

[Sveivo]

there's no way buying a more expensive car is the right move, unless you got ***** on the interest rate

if you're upside down, they have to add your negative equity to the new loan, and the only way you'll get a lower payment is if they stretch your loan out for 6 or 7 years, which will just make your problem worse - you'll be upside down most of the life of the loan

the only positive result is that you're getting a honda, which holds its value a little better

I recommend waiting until your loan balance equals what you can get for the car

This makes a lot of sense.

You should calculate what you end up paying *total* in both cases (over the course of however many years). Then you'll be able to tell if it's a good deal.

 

[Familia323]

if you can fix the negative balance thing somehow get the SI... AND if you do.. I might buy your stock wing.... I need to PM you about that!

 

[Leppy]

the 03.5? sure, i'll give you dibs if I do.

 

[Leppy]

ya'll, put your votes in the poll, please! I'm kinda going by that... I'm leaning toward if the deal is good and I pay less after TT&L, I'll do it.

 

[Familia323]

oh you I thought you had the old sedan wing... the simple low profile one... hmm.. never mind then..

 

[Sveivo]

ya'll, put your votes in the poll, please! I'm kinda going by that... I'm leaning toward if the deal is good and I pay less after TT&L, I'll do it.

Well, more than likely you'll have more debt. And for that reason alone, I wouldn't do it. Unless, like was mentioned before, your interest rate is high currently.

 

[Leppy]

it's 18%

Familia, I DO have the LX wing, PM'ed you.

 

[evilmonkeyMSP]

god damn...$421 pmt & 18% interest...did they atleast give you Ice when they kicked you in the ******* balls?

 

[Sveivo]

it's 18%

Familia, I DO have the LX wing, PM'ed you.

That's high man. So it might actually be worth it if they get it down to like 7%. I would seriously use one of those loan calculators and compare the numbers. If you don't go for the civic, the protege might end up costing you 30K.

 

[Leppy]

I know i can get about 10% or lower. which is WAY better than 18... It was the best I could get after Best Buy screwed my credit while I was overseas fighting in Iraq. LONG story...

 

[LinuxRacr]

I say go for the SI because you are paying way too much for your car.

Exactly! I only pay $350/mo for my MP3. You are paying too much for not enough, if you get what I am saying.

 

[evilmonkeyMSP]

gees.... I got 3.9% interest...id hurt me some Best buy right about now...

 

[Leppy]

I know.. I had 4.9 on my Focus ZX3 in 2002 before I left... I came back and the best I could get was 18... It sucked. Credit's much better now that everything's settled and I'm married, so i'm wanting to do SOMETHING at least... If I get this deal the way it's he says he can, I can almost start anew without being as much in debt as I was... you know what I mean?

 

[nate0123]

have you talked to your bank / credit union about refinancing your car?

 

[SilverBulletES]

Holy fark! 18% interest?!?!

I'm paying 0%... and if I'd gone through the credit union I don't think I'd be paying over 7 or 8.