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Old 08-17-2004, 10:33 PM   #1
kicfromhell
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Default Want to "sell" my Sti, but still owe on it, what to do?

I have an 04 Sti that I love, but looking back it probably wasnt a good business decision. What are my options for selling it? of course I dont own it yet as it is being financed. I owe 25k on it, it has 12k miles. I'm rather certain that whatever I do either my pocket, my credit or both will suffer.
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Old 08-17-2004, 10:36 PM   #2
Soon2bSubbieowner
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You can probably get just over $25k for it privatly if it is in great condition and well maintained. Sell it and get rid of the loan and then get something cheaper? I dont think your upside down yet.

This thread might help:

http://forums.nasioc.com/forums/showthread.php?t=357921
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Old 08-17-2004, 10:45 PM   #3
Kinsbane
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I'll trade you my WRX for your STI and I'll take over the loan payments.
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Old 08-17-2004, 10:50 PM   #4
rogue
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kins: don't you have some equity in your 02 by now? that seems like a bad deal for you... unless you still owe a lot! (like me)
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Old 08-17-2004, 10:52 PM   #5
Janq
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Sell it and walk, problem solved.
Easy.

- Janq
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Old 08-17-2004, 10:53 PM   #6
bobturismo
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Quote:
Originally Posted by Janq
Sell it and walk, problem solved.
Easy.

- Janq
yes, even if you have to eat 500 or 1k, you'll still be ahead in the long run
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Old 08-17-2004, 11:09 PM   #7
Janq
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Quote:
Originally Posted by bobturismo
yes, even if you have to eat 500 or 1k, you'll still be ahead in the long run
Exactly there is no loss.
So you pay $500 or $1K as per Bob's example.
Big whoop.
You got to drive around in an STi for x months and only paid $500 or $1K plus gas & insurance.
Thats not a bad deal at all.

Sell it and move on with life.

- Janq
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Old 08-17-2004, 11:20 PM   #8
WRCar
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Ship your car over to me in New Zealand and claim someone stole it...
They'll never find it over here!
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Old 08-17-2004, 11:23 PM   #9
kedrin
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im actually in the market for a sti so sell it to me for uber cheapness.
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Old 08-17-2004, 11:23 PM   #10
Kinsbane
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Quote:
Originally Posted by rogue
kins: don't you have some equity in your 02 by now? that seems like a bad deal for you... unless you still owe a lot! (like me)
I really don't care, I just want an STI
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Old 08-18-2004, 12:04 AM   #11
mart242
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Quote:
Originally Posted by Janq
You got to drive around in an STi for x months and only paid $500 or $1K plus gas & insurance. Thats not a bad deal at all.
Plus the other payments you made on the car... Depending on how much the loan was, it could be quite a bit..
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Old 08-18-2004, 12:06 AM   #12
Blindeye_03
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Well I had to sell my RS when I lost my job. I owed $700 more than what I sold it for, and just had to pay the bank what I owed (the $700). It was so easy .

Now I have no car payments and life is great . I am not a prisoner to the bank...

-justin
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Old 08-18-2004, 12:13 AM   #13
Janq
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Quote:
Originally Posted by mart242
Plus the other payments you made on the car... Depending on how much the loan was, it could be quite a bit..
Your're right as I'm thinking of my own case at paying invoice + $300.
If he was one who paid striaght retail or worst MSRP + Dealer Premium (!) then well the pain might be a bit more acute.
But even still it doesn't really matter.

In the end he pays what ever he did and gets rid of the loan via its sale.
At the end of the day its not that bad a deal and he moves on with life.
Its not like he has any other choices.

- Janq
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Old 08-18-2004, 05:13 AM   #14
Kinsbane
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look just give me the sti and ill give you my wrx in return
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Old 08-18-2004, 10:08 AM   #15
am3rican
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Quote:
Originally Posted by kicfromhell
I have an 04 Sti that I love, but looking back it probably wasnt a good business decision. What are my options for selling it? of course I dont own it yet as it is being financed. I owe 25k on it, it has 12k miles. I'm rather certain that whatever I do either my pocket, my credit or both will suffer.
id suggest trying to trade it in for a cheaper car. you have enough equity in the vehicle where it would be just a wash, meaning the loan would be paid off by the dealer and you wouldnt have to do anything. if you dont want another car, which is completely reasonable, id suggest selling the car privately. you can easily make 25K on it. pay off the loan. cancel the insurance, remove your tags. make sure the buyer has transfer tags (paper tags that are generally good for 20 days or so). you arent in that bad of a shape


i own a 2003 civic ex that i owe 14K on. even though it could sell easily for $15.5K, a dealer only offered me 11.7K for it. im in the same boat as you
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