Might be trading in my Subaru STi...

[War Machine]

you're not that upside down at all, if you take it to a new car store, I bet you'd be able to get 30k out of them on trade

[dville_gt]

I bought one new and the v6 used.

after literally picking this c6 up for exactly what was owed on it (after he made payments for 3 years) i have vowed that i'll never buy a "new" car in my life. i felt bad, the guy filled the tank before we picked it up and i was thinking, you just paid me $50 bucks to take your corvette from you. aside from needing new front tires it is mint.

[jason07]

what 6 yrs were you in the business?

margins aren't what they used to be

It was only 5 years ago. Yes I know the margins aren't there anymore but that is still a markup they will do even today. Did I ever make 4,000 on a used car sale?? very very rarely it's just a starting point.

Regardless of markup I feel that he will only get 24-26 for a trade in..therefore leaving him quite upside down.

There is quite a cult following on these cars..selling it outright shouldn't be that hard to do.

[Cooter]

cult following... and if he's got low miles on it, it'll fetch good money

[GrayStangGT]

The car is 2011 WRX STi 5 door (hatch) version. It's got 20,000 miles on it.

cult following... and if he's got low miles on it, it'll fetch good money

20k on a 2011 is kind of high for a 1 year old car

[jason07]

cult following... and if he's got low miles on it, it'll fetch good money

lol that's what I said (cult following)
Also, he stated earlier that it has 20,000 miles on it sooooooooooooo.........

[Cooter]

sooooooooooooooooooooooooooooooo, he's not going to lose his ass on it

[jason07]

sooooooooooooooooooooooooooooooo, he's not going to lose his ass on it

LOL that's not what I meant. You said that if he had low miles it would fetch good money....it's an '11 with 20,000 miles that's not low.

That being said he can still sell the car with no problem. It's a bad ass car and I would love to have it myself.

The only problem I see him having is him being able to pay the difference himself if he does sell it outright. The last thing he needs to do is let it go back but things happen sometimes.

[Cooter]

lol, fair enough

I've been driving trucks for too long. 20k is low miles to me, but you're right. a 1yr old car w/ 20k isn't low mile

[Big A]

...but they are "adult" driven miles. I'd assume mostly highway to put that many miles on so quick.

Sounds like OP has enough toys to sell off, to make up any difference, to let it go back to the bank is chickenshit. IMO of course.

[jason07]

lol, fair enough

I've been driving trucks for too long. 20k is low miles to me, but you're right. a 1yr old car w/ 20k isn't low mile

I agree..I bought a Chevrolet Cruze for a work car in April and I have 32k on it right now. Talk about high mileage!!!

[Shorty]

http://www.dfwmustangs.net/forums/showpost.php?p=337850&postcount=3

I guess I was a few months too early. I don't need a car payment though...

[yellowstang]

Drive it into a lake

Hmmmm...

http://www.dfwmustangs.net/forums/showthread.php?t=24318

[junior]

Another vote for having it stolen

[Saleen781]

call the bank, tell them your situation. ask to defer a couple of payments while you look for another job. I let a car go back years ago and when I needed credit.....it was a bitch finding it.