I need you guys help in explaining to me the options given my situation. I live in Texas and making payments on a 350z. I found the perfect honda s2000 I like at the price I want but it is in Calif. I have a little cash, but would prefer to not use it. Is my only option to drive my 350 to calif and use it as a trade in? (they're going to screw me then knowing I'm stuck, right?) I don't know if I sold my 350 privately, that I would qualify for a new loan. Should I go to the bank with the 350 loan and tell them what I want to do and see what they say? Shipping is also an option, but I don't mind the driving if I have to. I have more time than money at the moment. What do ya'll suggest?

Thanks in advance

 

find a s2 closer to home. sell your z privately. you will get a couple of extra grand

 

There is a reason why I want this particular one. I just need advice given the situation I described.

 

Definitely go to the bank and talk to them first.. see if you would qualify for a new loan on the S. A private sale is almost always best, especially if you have the time.

If you end up having to trade the Z in at the dealer, just don't let them know you're stuck. Negotiate everything before hand and get a trade in quote in writing (fax). When you drive out there, everything should be in order and they should have no leverage by which to screw you with.

 

do you owe more on the loan than the car is worth, i had a bad experience at the dealer trying to buy a 2008 s2k CR. I was as they call it in shop talk, upside down on my loan, owed more than car was worth, they would have taken the car on trade, but their appraisal was chitty. KBB was 14k at the time and they offered 8k on trade. They wanted to tack on roughly 6k on my current loan to the new loan, bring the total new loan to about 43k, I laughed a little and than bolted.

Going through the dealer is not the best option, private sale and applying for new loan would be the best option, i would think IMO.

here is a link to capital one auto finance, how to sell a car if you still have a loan on it.

http://www.capitalone.com/autoloans/help-c...C1_06_T_ALHSGOM

 

Sell your car privately, dealer will rip you off. They have to make a profit on your car, so it's all just number juggling. Unfortunately, selling your car in this climate may be tough and prices are way down. How upside down are you on your car?

Talk to you bank with your "post 350Z" financial situation and see where you are. Typically, anything older 2005 is going to hard to finance.

Most important of all, do not spread yourself too thin. Worst case is buying a beat up S just to have one or eating ramon noodles to pay for it.

 

Wouldn't you have to get financing no matter what?