contemplating a downgrade

Originally Posted by babbagandu

Thanks, you make some good points. My payments are not too bad, they are slightly under $600... but this is because I got a 6 year loan. And the idea of paying for this car for 6 years is starting to bug me. If I really cut down on all other spending I could probably pay 2k-2.4k every month and pay it off in the next couple years, but I would not have any money left over to save after my other expenses



At this point I owe about 34k on the car. I would just do a private sale and hopefully find a buyer for close to that much. I know a trade in would be a ripoff

Originally Posted by Rui Z

You will probably be able to sell a 2009 Nismo for $29K, meaning you'll be upside down $5K. That means you will be paying $22K used car + $2K taxes + $5K upside down in loan = ~$29K. You will probably only save like $5,000. NOT WORTH IT!

Originally Posted by babbagandu

I would not buy from a dealer this time around for precisely that reason. Screw taxes. I will just go to my bank and get pre-approved for a loan and then buy from a private seller. And unless I find a buyer who will pay close to 34k I will just keep the Z.

I just looked at some 08 Evo's on ebay and some are in the low 20's. I think I am starting to convince myself to just make an autotrader ad and see if I get any interest

Originally Posted by Rui Z

You do realize you still have to pay taxes when you buy from a private seller. When you register your used car with the DMV, they will ask how much you paid for the car and then send you a tax bill. Death and taxes!