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NCD! (and auto financing questions)
- Thread starter MatticusMania
- Start date
1. List it on Craigslist, you never know
2. Stop buying Kia's saturns and no Hyundai's either.
3. profit
2. Stop buying Kia's saturns and no Hyundai's either.
3. profit
1. You can't sell a Saturn for any $. So don't fix it.
2. Pay it off slowly, just keep making the payments. Wrecked credit SUCKS!!!!!
3. Sell it to a scrap metal yard when it's paid off, it's probably worth about 400.00.
4. Before you buy a car ask mechanics about what to buy (too late now). They would NEVER!! tell you to buy this kind of car.
5. Buy an older Honda instead of a crappy kia, saturn, etc.
2. Pay it off slowly, just keep making the payments. Wrecked credit SUCKS!!!!!
3. Sell it to a scrap metal yard when it's paid off, it's probably worth about 400.00.
4. Before you buy a car ask mechanics about what to buy (too late now). They would NEVER!! tell you to buy this kind of car.
5. Buy an older Honda instead of a crappy kia, saturn, etc.
This whole thread sounds like you have made your decision and are seeking justification from other TBers.
The other thing to consider is that cars occasionally require repairs. Unless the car is not drive-able, the cost of the repair, even when more than the so-called "value" of the car, is a lot less than the cost of another car. This is especially true when you own the car.
If you are going to let it get repoed, just let it go and do not pay any on it. A loan is nothing more than a business deal. The contract says if you do not pay, they get the car. Businesses walk away from loans all the time. It will hurt your credit a little, but I would not worry about it. A business has no morals when dealing with you, do not limit yourself that way when dealing with them.
Banks and loan companies figure this kind of risk into their business plan.
Banks and loan companies figure this kind of risk into their business plan.
I wouldn't pay $3000+ to put another trans in a car with 130k miles on it personally, sooner rather than later I would think it would need more money thrown at it.
Dude!
Credit laws vary from state to state; you need to talk with someone LOCAL! Either a lawyer or credit counselor of some sort to find out the penalties in your state. You should also know what your current credit scores are. TAlk to the loan officer and try to roll the old into the new- it's probably the only "hit-free" option as far as your credit score goes. If you don't have the space to part it out, you're gonna need to junk or sell it at a loss. Since there aren't any new OEM parts, ANY repair is a gamble- especially the transmission. If you can afford a higher monthly payment on your new ride, combining the loan may be your only good option. I feel for you dude, I've been there. I am fortunate enough to have lawyer friends who can occasionally advise me gratis, but I've found the advice can usually save me alot more down the line, even if I had to pay. They have to be local, though. TB is useless here.
Credit laws vary from state to state; you need to talk with someone LOCAL! Either a lawyer or credit counselor of some sort to find out the penalties in your state. You should also know what your current credit scores are. TAlk to the loan officer and try to roll the old into the new- it's probably the only "hit-free" option as far as your credit score goes. If you don't have the space to part it out, you're gonna need to junk or sell it at a loss. Since there aren't any new OEM parts, ANY repair is a gamble- especially the transmission. If you can afford a higher monthly payment on your new ride, combining the loan may be your only good option. I feel for you dude, I've been there. I am fortunate enough to have lawyer friends who can occasionally advise me gratis, but I've found the advice can usually save me alot more down the line, even if I had to pay. They have to be local, though. TB is useless here.
Dude, since they no longer make Saturns, that "junker" is really a rare, out-of-production, vintage auto.
It's interactive art and a monument to a failed US auto maker. Really, it's a symbol of our times. I don't see how you could let it go for less than 10k.
Occupy Matty's Ion!
It's interactive art and a monument to a failed US auto maker. Really, it's a symbol of our times. I don't see how you could let it go for less than 10k.
Occupy Matty's Ion!
Exactly why Im not putting that kind of money into the car.
Im not seeking justification for my decision, Im seeking advice on a decision that would result in a better outcome. There has been some good advice offered, just not any sort of viable solution for my situation. The car is not drivable as it is now. Fixing the transmission would not necessarily make it drivable either. I do not own the car at the moment, as there are still payments to be made. I cant sell it right now, as I do not own the pink slip.
New Kia's and Hyundai's are some of the best cars that you can buy right now. Notice that I said new, anything pre 2008 isn't very good. I have a mechanic buddy and he says the exact same thing (he is a Ford mechanic, so he has no affiliation with either company). My wife and I own a 2010 Kia Forte and it is a fantastic car, nothing has gone wrong with it, it is a joy to drive and much better equipped than anything else in the price range.
lowsound
iamlowsound said:
I see there looking better, maybe built better maybe not. However it may time a while before people see the brand as something reliable or worth buying new, untill then they may have horrible resale.
If the original purchase was a Honda or Toyota, though he may have gotten few more miles or a little older, it would still be worth something. Better yet it would still be on the road.
First of all, despite the situation, congrats on the new ride. Second: don't listen to the naysayers, Kia has come a long way in this millenium and they have vehicles I would purchase if I had the desire for a new car. That's a lot coming from me.
As for your situation, talk to your creditor, and have you considered having your insurance total it??
Peace,
Greg
As for your situation, talk to your creditor, and have you considered having your insurance total it??
Peace,
Greg
If you transfer the loan, put it on a CC or take out another loan to pay it off, you will get the "pink slip" ( by which I'll assume you mean the title). You can then do with the car what you please. Or, you can keep making your current monthly payments on top of the ones for your new car. If this was something your income could accomodate, I would assume there would be no reason to start this thread! Rolling it into your existing loan would lessen your monthly load, as opposed to making two payments every month. The credit penalties for walking away from a loan vary from state to state. If your situation is dire enough to warrant this action, you need to know what those penalties are- and whether you can live with them. You need to go into this decision clear-headed and armed with more knowledge than we can provide. Now open the phone book, and call a credit counselor or lawyer. Stop listening to morons debating the relative merits of car brands. You have a hefty personal debt related to an item that is now totally useless to you. GET SOME PROFESSIONAL HELP!! Good luck!
and in case you're wondering, I've been in your shoes. Been there, done that- with a Saturn, no less. Writing the check to pay off a car that was sitting idle in my front yard, too expensive to fix, was one of the most painful financial things I've ever done. Iwas just lucky enough to have had a good year financially when it happened, so I didn't have to ding my credit. It was the last time I financed a used car.
Well, as it turns out, my financial situation will be changing very soon. I may actually be able to pay off the Saturn within 5-7 months without having it repo'd, depending. Then, I'll own the title and can sell it to the highest bidder (read: someone looking for some parts) to recoup a little bit of that money back.
