Should I lease or stay?

[bigbangtheory 5,000+ posts]

Well I am a little bit of a tough situation. I went car shopping this weekened and well really like the new Honda Civic 2dr coupe EX. So I drove it and fell in love with it. Rides really good and they have really put some love in these new civics this time around. I usually wouldnt even consider them.

Anyway as of right now I have 2 cars as some of you may know. I want to get rid of my cavalier and try leasing this civic. Problem is that I owe 6700 bucks on the cavalier. That is my payoff. I paid 7000 grande for it 9 months ago.//content.invisioncic.com/y282845/emoticons/crazy.gif.c13912c32de98515d3142759a824dae7.gif I know, but recently went through a bankruptcy and my interest rate is at 23%.//content.invisioncic.com/y282845/emoticons/crazy.gif.c13912c32de98515d3142759a824dae7.gif Sucks I know. I cant believe I have been paying over 9 months on this and only 300 bucks or so has went to the principal of the car. //content.invisioncic.com/y282845/emoticons/crap.gif.7f4dd41e3e9b23fbd170a1ee6f65cecc.gif

So what I want is some of your opinions. Should I either stick with the cavalier and try to refinace it,which I still may be up the in interest or I could lease this Civic for just under 300 bucks a month at 10%. Will be 15,000miles per year for 4 years.

What you guys think, go for the new car, which I get brand new, 0 miles or stick with my cavalier with almost 60000 miles with no warranty anymore and a shitass interest rate.//content.invisioncic.com/y282845/emoticons/cool.gif.3bcaf8f141236c00f8044d07150e34f7.gif

Thanx in advance.//content.invisioncic.com/y282845/emoticons/wink.gif.608e3ea05f1a9f98611af0861652f8fb.gif

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[rocky 59 5,000+ posts]

u gotta stick with the cav. your gonna regert trying to pay off 3 cars at once. if you get the civic the your gonna have a hell of a time payin off the cav then. stick with what you gots and pay it off and then get your car. im telling you'll be happier that you paid it off

 

[bigbangtheory 5,000+ posts]

u gotta stick with the cav. your gonna regert trying to pay off 3 cars at once. if you get the civic the your gonna have a hell of a time payin off the cav then. stick with what you gots and pay it off and then get your car. im telling you'll be happier that you paid it off

No man my cavalier they would pay off. I wont have it anymore. I would just have the civic and the eclispe, which is paid off. //content.invisioncic.com/y282845/emoticons/wink.gif.608e3ea05f1a9f98611af0861652f8fb.gif

 

[wilzyx 5,000+ posts]

a dealer would pay your $6,700 payments so you would buy a car thats not even 20 grand? (correct me if im wrong on the price)

 

[Blunt 10+ year member]

yeah they roll whatever they dont give you for trade in into the new loan so he will start out already upside down in the civic.

 

[wilzyx 5,000+ posts]

so hed be paying 7 grand more than the normal person would pay for the civic?

 

[faulkton 5,000+ posts]

dont do it. Stick with the cavy.

 

[Ignatowski 5,000+ posts]

sell the cav,its a depreciating hunk of steel and your upside down bigtime..

Dump it as fast as your can,and BTW you got pwned at that 23%

loan rate,thats like leagalized loansharking

pffffftttt

 

[bigbangtheory 5,000+ posts]

so hed be paying 7 grand more than the normal person would pay for the civic?

No, when I talked to the guy he said they would give me 6000 for the cavalier, which means they will roll over 700 bucks into the leased car. So overall it isnt too bad what they offered me for the cav. I was surprised actually.

 

[faulkton 5,000+ posts]

go for it then

 

[bigbangtheory 5,000+ posts]

sell the cav,its a depreciating hunk of steel and your upside down bigtime..Dump it as fast as your can,and BTW you got pwned at that 23%

loan rate,thats like leagalized loansharking

pffffftttt

Yeah man I got burnt on that, no doubt. I was told 18% when I bought it and that is what I thought it was till I started to look at my last bill. Seen it was 23%//content.invisioncic.com/y282845/emoticons/crazy.gif.c13912c32de98515d3142759a824dae7.gif This is most the reason I would do this if I do it. I can get the civic alot lower. So would be better.

I am just worried about the miles even know I have another car, I barley drive that one. So I have to keep that in mind. The reason I even bought the cavalier was needed something more reliable and better on gas than my 1994 Ford thunderbird with aftermarker supercharger. I was paying 350 bucks just in gas for the month. My car payment on my cavalier is 196 a month and gas runs me about 100 bucks a month. Plus is helping me rebuild my credit.

 

[faulkton 5,000+ posts]

sounds like you drive a lot..is 15,000 a year enough for you? I know it wouldnt be for me. Shit ive driven a little over 15,000 in 6 months ;(

 

[faulkton 5,000+ posts]

Can you come up with the $700 so you wouldnt have to roll over anything? Actually start fresh with the civic? Ask your parents, for the $700 and go for it.

 

[bigbangtheory 5,000+ posts]

Can you come up with the $700 so you wouldnt have to roll over anything? Actually start fresh with the civic? Ask your parents, for the $700 and go for it.

I could probably do that. Just hate to ask the parents for the money ya know. I am still just thinking of keeping the cavalier and going to a credit union and get refianced. My friend Amy said she could get me under 10 % on the cav. So I may just do that. Thanks for all the input guys.//content.invisioncic.com/y282845/emoticons/wink.gif.608e3ea05f1a9f98611af0861652f8fb.gif