Honest Advice: Trying to Return to Honda
09-09-2005, 05:34 PM
#12
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Keep the IS. You're only trading one bad situation for another.
Plus, I'd wager the IS's value probably won't go down as quickly as a new RSX's. Not that Hondas have bad resale, but the Lexus name already helps you (sort of). The only downside to the Lexus is repair costs if anything is required.
But yeah, pay down the Lexus. The only way you'd come out on top in your situation is if you bought a car worth significantly less than the IS, which would mean you'd be getting into a used car, not something like a 2005 RSX.
Plus, I'd wager the IS's value probably won't go down as quickly as a new RSX's. Not that Hondas have bad resale, but the Lexus name already helps you (sort of). The only downside to the Lexus is repair costs if anything is required.
But yeah, pay down the Lexus. The only way you'd come out on top in your situation is if you bought a car worth significantly less than the IS, which would mean you'd be getting into a used car, not something like a 2005 RSX.
09-09-2005, 09:30 PM
#13
Registered User
This is one of those times when all I can say is.... "?!?!?!?!?!?!?!"
A two-year old IS300 can be had for $27,000 from a dealer. How do you owe $26k on a car that is now almost four years old?
You need to either 1) use the spare cash you have to pay down the loan, and stick with this car or 2) sell the IS and by a CHEAPER car... not something that's actually more expensive.
A two-year old IS300 can be had for $27,000 from a dealer. How do you owe $26k on a car that is now almost four years old?
You need to either 1) use the spare cash you have to pay down the loan, and stick with this car or 2) sell the IS and by a CHEAPER car... not something that's actually more expensive.
09-10-2005, 08:41 AM
#15
Originally Posted by OCMusicJunkie,Sep 9 2005, 09:30 PM
A two-year old IS300 can be had for $27,000 from a dealer. How do you owe $26k on a car that is now almost four years old?
you can get a 2-year-old IS300 for much cheaper now that the IS350 is coming out
09-10-2005, 08:42 AM
#16
Registered User
It sounds like you are setting yourself up for a lateral move. Either keep the IS and drive it til it dies. Or sell the IS and get a car that is substatially less... Look at spending 8-9k on an Integra.
09-10-2005, 08:12 PM
#17
Registered User
Originally Posted by S2020,Sep 10 2005, 08:41 AM
I negociated a brand new IS300 18months ago (before anyone even know about the IS350), for $27.5
you can get a 2-year-old IS300 for much cheaper now that the IS350 is coming out
you can get a 2-year-old IS300 for much cheaper now that the IS350 is coming out
Don't do this and buy another new car. Your negative equity will just get worse. Get a 2003 or earlier.
09-11-2005, 08:38 AM
#19
Registered User
Originally Posted by MonStar,Sep 9 2005, 12:42 PM
I'm 21 years old with a 2002 IS300, that has 60K miles. And I owe around 26K on the car. So I'm trying to come up with $4-5K and sell the car for $22-23K to pay off the loan.
KBB for private party sale ~16.5K
So like everyone said do not dump $5K into it unless you want to loose more.
09-11-2005, 09:25 AM
#20
Originally Posted by steven975,Sep 10 2005, 08:12 PM
so you've only paid off $1500 in 18 months? You could only be in that situation if you agreed to an 8-year loan AND a sucky interest rate. If either of those are true, you are in too high a price class.
Don't do this and buy another new car. Your negative equity will just get worse. Get a 2003 or earlier.
Don't do this and buy another new car. Your negative equity will just get worse. Get a 2003 or earlier.
