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Old 11-29-2009, 10:14 PM   #15
Frank in MD
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I disagree. If you lower the price, people will ask for a bigger discount. If you list the car @ 35K or 34,700 potential buyers will negotiate from that number. If you need 35K, list it for 36....
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Old 11-29-2009, 10:17 PM   #16
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Agreed. Do the 32K, skip the trade for the Cobalt. You're young, you learned a lesson and now be done with it. Took me yearssssssssssss to get where I can comfortably afford the things I wanted but made sure I had a good cushion for the things I needed.
I agree with this, you need to cut your losses and lesson learned. You should talk about your experience to a lot of young drivers who are going to do the same thing as you. It's not fun to drowned in debt, but at least you figured it out early! Sound like you got priorities now...
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Old 11-29-2009, 10:17 PM   #17
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List it for 36,700 and negotiate down to the 35k you owe. Someone will buy it.
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Old 11-29-2009, 10:19 PM   #18
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What was the list price on that 1SS new?

I think 32K is way too much for that Camaro. It's used!

If you can get the 32K, you should run and grab it before they change their mind.
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Old 11-29-2009, 10:22 PM   #19
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I agree, stop the bleeding. Sell, trade whatever it takes. Your finance terms are what is killer. Short term loss for long term gain. At least you got to satisfy some of that Camaro fever. Not so bad.
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Old 11-29-2009, 10:28 PM   #20
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What was the list price on that 1SS new?

I think 32K is way too much for that Camaro. It's used!

If you can get the 32K, you should run and grab it before they change their mind.
I agree fully
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Old 11-29-2009, 10:33 PM   #21
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My question would be, what did you pay for the car in June of you now still owe 35k? I bought same car minus the RS, plus a few other options for 31,500. Seeing when you got the car, I guess you were one of the 5k over sticker people
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Old 11-29-2009, 10:47 PM   #22
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I didn't think they'd still do 84 month loans on cars what with all the financial shenanigans that have gone on in the past to get us in our current economic situation.

I financed my car for 72 months, at 0% - that's a pretty good deal. If you aren't getting 0% (or damn near it) don't even consider more than 60 months, and even then try to keep it at 48 or less.

32k for a used 1SS seems like a pretty reasonable offer. Sell the car and take the small loss. And good luck to you in the future.
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Old 11-29-2009, 11:19 PM   #23
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took an 84 month loan on a loaded ram to get out of a terrible durango purchase. been trying to get out of that upside down mess for 2 years. then this v6 camaro came along. lowered my payment, and got back to a 5 year deal. dealer sold my truck in 3 days. crooks! why not try to trade it back on a v6 camaro or go get one if u sell it outright?
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Old 11-29-2009, 11:53 PM   #24
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I'd take that $32 if you still can, best of luck.
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Old 11-30-2009, 01:37 AM   #25
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Old 11-30-2009, 01:44 AM   #26
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Quote:
Originally Posted by savage71ChevelleSS View Post
My question would be, what did you pay for the car in June of you now still owe 35k? I bought same car minus the RS, plus a few other options for 31,500. Seeing when you got the car, I guess you were one of the 5k over sticker people
Yeah and he got the manual... thats a saver of another $1k...
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Old 11-30-2009, 03:01 AM   #27
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God, I hope he didn't pay over sticker. I've been preaching that since day one.

Man...tough times...

Your two year old does come first. And THANK YOU FOR seeing that.

Put the car on auto trader, craigs list, ebay, everything you can.

DO NOT settle on a 21k Cobalt. Why that car? There are so many other cars out there right now that you can get for less than that. Get your debt fixed asap so you can be free can clear.

You can do it.

Best of luck to you.
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Old 11-30-2009, 03:12 AM   #28
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Man I'm sorry to hear about your situation. Definately find a way to unload that car. 600 x 84 = crazy interest. Find out the bare minimum that it can be sold for and cut your losses. Glad you are one of the guys who realizes that his kid comes first.


I really hope this works out for you and your kid. Best of luck.
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