Base 2010 Impreza.
Wait, you owe 7k. Why don’t you just refinance the 7k at a lower rate for a longer time if you don’t mind continual car payments, and keep driving the car you like?
I would check some places on insurance for the new car as well. Insurance for my speed6 wasn’t any more than any other $20-30k car/suv I’ve owned (about $700/yr). And yes $150/month is super high. They didn’t consider it rare or anything for me; You may just be in a higher risk pool and will not save much on insurance by switching cars. The new car will have a higher value and you will very likely see an increase in comp. and collision.
And while you are at it shop around for new quotes for your current car, I just switched to geico and my premium for 2 cars went from $1900/yr to $1200. Saved over $50 a month with just a few mouse clicks.
I just don’t see how going from a $7k loan to a $20k loan is going to save you money. I would see about refinancing your ms6, mayby for a little longer and a lower rate to lower your payments, get your insurance straight, and if you are worried about the car breaking down get an extended warranty if you can.
A new car would be peace of mind and maybe less operating costs, but not as fun for a “car guy”, and the loan would last for many years to keep the payments down.
well, hes not exactly trying to save money, hes trying to lower his payment.
joe, loan him the 7k to pay it off, give him 120 months @ 75%
^
finally someone who gets it! 
Only took 44 posts for someone to realize what I’m trying to do, rather than trying to be H&R Block telling me my financial status and how my decisions affect my future.
As for a 7k loan for 10 years at 75%, my monthly payment on that would be $437.80 a month. I’m saving a whole $2.20 
And by the time it’s all done in January of 2010 I’ll have paid $45,536.39 of interest! So, a total of $52,536.39.
Even funnier is that the first payment -> $437.80 of which $437.50 goes to interest and $00.30 goes to the principal! 
ok so maybe you can lowball him to 50% or something.
I’ll tell you what, I’ll give you a deal just for you cause you look like an honest guy. No one else can get this deal. 10 years at 24.9%. Continuous compounding.
I’ll loan it at 24.2%, lol…
lawls
$155.31/mo. for 10 years.
Total interest paid: $11,637.68
Total payment at 120 months: $18,637.68
First payment: $14.15 to principal / $141.17 to interest
And, I’ll still be paying into this loan well after the car is rusted and broken into small pieces.
The loan doesn’t help with the auto repairs. Does it come with some sort of car warranty? 
hey man, any way you slice it you are going to be paying MORE MONEY. might as well pay it on something you like.
There are some guys on Hertel Ave. that can hook you up with any type of loan you’re looking for. Except if you miss a payment you’ll be the one rusted and broken into small pieces.
How about you sell me your car for $10k and I’ll lease it back to you for 3 years at $250 a month?
one of you two needs a different avatar
I hate this thread.
Buy Newman’s Rabbit isn’t that under wart still?
I can’t change mine any more. Or have a sig. Because I called JEG stupid when talking about politics. Fucking onyx.
I’m going to change everyone’s av to that.
start with bad hulk
Once the car is payed off you won’t have make any payments. You’ll save all of your $440 a month. And then when you do need to make a repair, you’ll have put that $440 into a saving account every month and you’ll be set. Are there $440 worth of repairs going into your car every month now?
I would sell it and buy something in cash. I bet you could get over $11k for it, buy something decent for $5k, pay $500/yr insurance, and save $550 a month total. That’s plenty of extra money to cover a repair here or there, plus cheaper gas, and probably better fuel economy.
^^^
and then you can go to the grave being one of those people who lived a miserable life driving a POS, but rest in peace knowing how much money you died with.