# Re-financing question **URL:** \ **Category:** NYSpeed Automotive\ **Created:** [March 2, 2008, 5:34pm UTC](https://forums.speedlife.net/t/re-financing-question/44302 "2008-03-02T17:34:09Z")\ **Posts on this page:** 20\ **Page:** 5
**Author:** ![theblue](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/theblue/32/5074_2.png) [@theblue](https://forums.speedlife.net/u/theblue)\ **Post date:** [March 3, 2008, 11:25am UTC](https://forums.speedlife.net/t/re-financing-question/44302/81 "2008-03-03T11:25:57Z")
if you do manage to pay down your loan to the point that you can sell it for break even then you’ll have paid an insane $/mile to own this car. I can only assume you put down almost nothing on this car and really did purchase a lot more then you should have given your circumstances. so basically what I’m saying it’s you’re fucked if you sell it, you’re fucked if you keep it… and you only have yourself to blame. I say this in the least insulting way I can, it’s just the reality of the situation. ---
**Author:** ![Nikuk](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/nikuk/32/7254_2.png) [@Nikuk](https://forums.speedlife.net/u/Nikuk)\ **Post date:** [March 3, 2008, 11:27am UTC](https://forums.speedlife.net/t/re-financing-question/44302/82 "2008-03-03T11:27:55Z")
> [@theblue](#): > > so basically what I’m saying it’s you’re fucked if you sell it, you’re fucked if you keep it… and you only have yourself to blame. Which is less damaging in the near / long term…? ---
**Author:** ![theblue](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/theblue/32/5074_2.png) [@theblue](https://forums.speedlife.net/u/theblue)\ **Post date:** [March 3, 2008, 11:37am UTC](https://forums.speedlife.net/t/re-financing-question/44302/83 "2008-03-03T11:37:36Z")
there is no right answer to that. All I can say is if you can’t afford to make payments and go to school then sell it at a loss before you get into big $$$ trouble. the loss will suck, but the benefit to being young is that you’ve got time to make more money. ---
**Author:** ![Nikuk](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/nikuk/32/7254_2.png) [@Nikuk](https://forums.speedlife.net/u/Nikuk)\ **Post date:** [March 3, 2008, 11:48am UTC](https://forums.speedlife.net/t/re-financing-question/44302/84 "2008-03-03T11:48:16Z")
> [@theblue](#): > > there is no right answer to that. Really? Then what is all of this: > All I can say is if you can’t afford to make payments and go to school then sell it at a loss before you get into big $$$ trouble. the loss will suck, but the benefit to being young is that you’ve got time to make more money. 🙂 ---
**Author:** ![dftsilvia](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/dftsilvia/32/7447_2.png) [@dftsilvia](https://forums.speedlife.net/u/dftsilvia)\ **Post date:** [March 3, 2008, 11:52am UTC](https://forums.speedlife.net/t/re-financing-question/44302/85 "2008-03-03T11:52:00Z")
does anyone really care?? y are you even posting this on the internet? shouldnt you be asking your parents for life advice instead of doing it over a forum. if u wanna find out if its going to be cheaper GO TO A BANK THATS WHAT THEIR JOB IS ---
**Author:** ![AShort](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/ashort/32/4947_2.png) [@AShort](https://forums.speedlife.net/u/AShort)\ **Post date:** [March 3, 2008, 11:52am UTC](https://forums.speedlife.net/t/re-financing-question/44302/86 "2008-03-03T11:52:21Z")
> [@Joe](#): > > On another note, moving in with a girl at 19 is a horrible idea. why is that? i’ve been with my girlfriend for 4 years. ---
**Author:** ![theblue](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/theblue/32/5074_2.png) [@theblue](https://forums.speedlife.net/u/theblue)\ **Post date:** [March 3, 2008, 11:56am UTC](https://forums.speedlife.net/t/re-financing-question/44302/87 "2008-03-03T11:56:18Z")
you’ll find out and another post like this will happen. ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [March 3, 2008, 11:56am UTC](https://forums.speedlife.net/t/re-financing-question/44302/88 "2008-03-03T11:56:28Z")
> [@dftsilvia](#): > > does anyone really care?? y are you even posting this on the internet? shouldnt you be asking your parents for life advice instead of doing it over a forum. if u wanna find out if its going to be cheaper GO TO A BANK THATS WHAT THEIR JOB IS No, a bank’s job is to make money. Going to a bank and asking if refinancing is a good idea is like going to a car salesman and asking him what a good price on a car is. He’s received some very good advice here. As for moving in with the high school sweetie… yikes. All I can say is at least with that mistake you’ll only be bound by a 1 year lease, not a 5 year loan. 🙂 ---
**Author:** ![dftsilvia](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/dftsilvia/32/7447_2.png) [@dftsilvia](https://forums.speedlife.net/u/dftsilvia)\ **Post date:** [March 3, 2008, 12:04pm UTC](https://forums.speedlife.net/t/re-financing-question/44302/89 "2008-03-03T12:04:57Z")
> [@JayS](#): > > No, a bank’s job is to make money. Going to a bank and asking if refinancing is a good idea is like going to a car salesman and asking him what a good price on a car is. > > He’s received some very good advice here. > > As for moving in with the high school sweetie… yikes. All I can say is at least with that mistake you’ll only be bound by a 1 year lease, not a 5 year loan. 🙂 . damn the next time i get in trouble i will post it up here n let ppl tell me what i should n shouldnt do. ---
**Author:** ![AShort](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/ashort/32/4947_2.png) [@AShort](https://forums.speedlife.net/u/AShort)\ **Post date:** [March 3, 2008, 12:06pm UTC](https://forums.speedlife.net/t/re-financing-question/44302/90 "2008-03-03T12:06:25Z")
> [@JayS](#): > > No, a bank’s job is to make money. Going to a bank and asking if refinancing is a good idea is like going to a car salesman and asking him what a good price on a car is. > > He’s received some very good advice here. > > As for moving in with the high school sweetie… yikes. All I can say is at least with that mistake you’ll only be bound by a 1 year lease, not a 5 year loan. 🙂 haha. we actually get along quite well. it’s a big step but we really want to make it happen and thanks again for everyone for the advice. ---
**Author:** ![Joe](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/joe/32/7219_2.png) [@Joe](https://forums.speedlife.net/u/Joe)\ **Post date:** [March 3, 2008, 12:11pm UTC](https://forums.speedlife.net/t/re-financing-question/44302/91 "2008-03-03T12:11:02Z")
^You have a good thing going. That will probably screw it up. Everything that is good about it will change. ---
**Author:** ![Nikuk](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/nikuk/32/7254_2.png) [@Nikuk](https://forums.speedlife.net/u/Nikuk)\ **Post date:** [March 3, 2008, 12:24pm UTC](https://forums.speedlife.net/t/re-financing-question/44302/92 "2008-03-03T12:24:02Z")
easy money: [http://nyspeed.com/forums/showthread.php?p=854691#post854691](http://nyspeed.com/forums/showthread.php?p=854691#post854691) Just sayin. ---
**Author:** ![AShort](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/ashort/32/4947_2.png) [@AShort](https://forums.speedlife.net/u/AShort)\ **Post date:** [March 3, 2008, 12:27pm UTC](https://forums.speedlife.net/t/re-financing-question/44302/93 "2008-03-03T12:27:11Z")
> [@Nikuk](#): > > easy money: [http://nyspeed.com/forums/showthread.php?p=854691#post854691](http://nyspeed.com/forums/showthread.php?p=854691#post854691) > > Just sayin. haha…maybe. ---
**Author:** ![66impalass](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/66impalass/32/7429_2.png) [@66impalass](https://forums.speedlife.net/u/66impalass)\ **Post date:** [March 3, 2008, 12:46pm UTC](https://forums.speedlife.net/t/re-financing-question/44302/94 "2008-03-03T12:46:01Z")
if you have stock parts for it, return the car back to stock complete, part out everything you can off of it that is aftermarket, and see where you stand then, taking a $500 loss now would be better than not making your payment and screwing your credit up. Worse comes to worse, borrow money from a family member, that will allow you to pay them back, even offer some interest on the money you borrow from them, PAY THEM BACK the moment you can, and drive something like th $5k focus, it will be reliable, and anything that might break is an easy fix. I will second the notion that moving in with a your GF when you are young is retarded. ---
**Author:** ![AShort](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/ashort/32/4947_2.png) [@AShort](https://forums.speedlife.net/u/AShort)\ **Post date:** [March 3, 2008, 12:48pm UTC](https://forums.speedlife.net/t/re-financing-question/44302/95 "2008-03-03T12:48:48Z")
> [@66impalass](#): > > if you have stock parts for it, return the car back to stock complete, part out everything you can off of it that is aftermarket, and see where you stand then, taking a $500 loss now would be better than not making your payment and screwing your credit up. Worse comes to worse, borrow money from a family member, that will allow you to pay them back, even offer some interest on the money you borrow from them, PAY THEM BACK the moment you can, and drive something like th $5k focus, it will be reliable, and anything that might break is an easy fix. > > I will second the notion that moving in with a your GF when you are young is retarded. i was waiting for you to post lol. right now i just might do that. i have to talk it over with my dad and see what he wants to do because the car is in his name. and i dont think its retarded for moving in with her. ---
**Author:** ![theblue](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/theblue/32/5074_2.png) [@theblue](https://forums.speedlife.net/u/theblue)\ **Post date:** [March 3, 2008, 12:56pm UTC](https://forums.speedlife.net/t/re-financing-question/44302/96 "2008-03-03T12:56:13Z")
here’s an option… give the car to your dad who can hopefully afford it, he takes the payments, you get something cheap. ---
**Author:** ![AShort](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/ashort/32/4947_2.png) [@AShort](https://forums.speedlife.net/u/AShort)\ **Post date:** [March 3, 2008, 1:07pm UTC](https://forums.speedlife.net/t/re-financing-question/44302/97 "2008-03-03T13:07:30Z")
> [@theblue](#): > > here’s an option… give the car to your dad who can hopefully afford it, he takes the payments, you get something cheap. he can’t. he has to pay all the bills now since my mom is moving out so he can’t really afford anything right now. ---
**Author:** ![93dx\_hatch](https://avatars.discourse-cdn.com/v4/letter/9/90ced4/32.png) [@93dx\_hatch](https://forums.speedlife.net/u/93dx_hatch)\ **Post date:** [March 3, 2008, 1:10pm UTC](https://forums.speedlife.net/t/re-financing-question/44302/98 "2008-03-03T13:10:15Z")
DO NOT MOVE IN WITH YOUR 19 YEAR OLD GF!!! This is a much worse then buying a Cobalt SS. You will thank me in 5 years for this advice, trust me. ---
**Author:** ![66impalass](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/66impalass/32/7429_2.png) [@66impalass](https://forums.speedlife.net/u/66impalass)\ **Post date:** [March 3, 2008, 1:14pm UTC](https://forums.speedlife.net/t/re-financing-question/44302/99 "2008-03-03T13:14:24Z")
> [@JDMjunkie](#): > > i was waiting for you to post lol. > > right now i just might do that. i have to talk it over with my dad and see what he wants to do because the car is in his name. > > and i dont think its retarded for moving in with her. Shit like this I am not going to be a dick about, 10k HIDs and no snow tires are one thing, but sometimes the best way to learn is the hard way. Talking it over with your dad might be the best, he might split the payment with you so you are able to go to school or what not, who knows. I still think driving a completely stock SS/SC would be a way to get a couple payments covered and buy yourself some more time to get things figured out. EDIT: never mind part of the last part, just saw your other post. ---
**Author:** ![AShort](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/ashort/32/4947_2.png) [@AShort](https://forums.speedlife.net/u/AShort)\ **Post date:** [March 3, 2008, 1:15pm UTC](https://forums.speedlife.net/t/re-financing-question/44302/100 "2008-03-03T13:15:44Z")
> [@93dx--hatch](#): > > DO NOT MOVE IN WITH YOUR 19 YEAR OLD GF!!! > > This is a much worse then buying a Cobalt SS. > > You will thank me in 5 years for this advice, trust me. why is this such a bad idea? [Previous page](https://forums.speedlife.net/t/re-financing-question/44302.md?page=4) [Next page](https://forums.speedlife.net/t/re-financing-question/44302.md?page=6)