A majority of the time when you purchase a new car with a standard 60 month (5 year) loan…the car is immediatly worth less than you owe for the entire term of the loan. so lets see what your resale is vs. what you owe. use kelly blue book private party value. www.kbb.com
2005 Scion tC, 15,000 miles, 60 month term, 7.5% interest, $1000 down
loan balance: $9,109
kbb private party: $15,815
the resale value of this car is mind blowing. 
Also state your loan term (how many months), interest rate and down payment or we have no clue what we are comparing.
Yeah, those Toyota products allways do very well. Try that with a GM product. 
X…
good condition: $19,560
I owe just about that, maybe a little less
6 year loan FTL, 6.9% 504/mo
Down payment FTW.
Edit: And that I bought my car with 1270 miles, so someone else already took the new to used hit for me.
[quote=“JayS,post:5,topic:40205"”]
Down payment FTW.
Edit: And that I bought my car with 1270 miles, so someone else already took the new to used hit for me.
[/quote]
who buys a new car, drives it for 1000 miles, then decides they dont want it anymore? that had to be one very expensive 1000 miles.
'07 Xterra 4500 miles
5.9% @ 72 months
Loan balance ~$23k
KBB Private Party ~$21k
[quote=“d3x,post:6,topic:40205"”]
who buys a new car, drives it for 1000 miles, then decides they dont want it anymore? that had to be one very expensive 1000 miles.
[/quote]
Haha good call…
I don’t have time to look at KBB but…
2006 tC should be ~ $16,000
I have $3500 left to pay. Sweet. Until I look at what I have dumped into it, and I realize I am still negative.
this is really true, they say your car loses Alot of value the second you drive it off the lot.
and im not talking about whut you see in movies, where they buy a car, drive it off the lot, and get tboned ahahahhaa
[quote=“98 Red Ex,post:8,topic:40205"”]
Haha good call…
I don’t have time to look at KBB but…
2006 tC should be ~ $16,000
I have $3500 left to pay. Sweet. Until I look at what I have dumped into it, and I realize I am still negative.
[/quote]
My total cost, all included (fees, taxes) was ~$18,800. In 2 years it has gone down >$3000. I wouldn’t say thats too bad.
i only owe ~ 14k on my m3… i think its worth ~ 28-30 if i find the right buyer… probably closer to 28… i could get 33ish if i parted it out though
wifie had an ION that we financed damn near 100% of in 04…
payed for it for just over a year.
it was a lemon and my lawyer arranged for
saturn to give us the difference of what we owed ang the sticker price
towards the RL vue.
kbb ~ 16 (if i were to fing the right foo)
owe 10.5
50 months @ 3.??% or something like that.
so i get to tell wifie that if she crashes it, then she will only
beable to afford a used j-body.
better than last time, i told her she would not have a car if she wrecked her ION.
as it was immediatly worthless.
Purchased Used in July:
KBB private party good condition $26,875
I owe $1,300
If anyone wants to buy it for that price let me know.
I owe $18K
Purchsed for $28K
KBB says $35,860, a more realistic price would be $33k
on a side note, a high mileage 02 for 30k??? good luck waiting for that buyer.
[quote=“d3x,post:6,topic:40205"”]
who buys a new car, drives it for 1000 miles, then decides they dont want it anymore? that had to be one very expensive 1000 miles.
[/quote]
Someone who got WAY over their head on payments.
Profiting on stupidity > *.
[quote=“66impalass,post:14,topic:40205"”]
I owe $18K
Purchsed for $28K
KBB says $35,860, a more realistic price would be $33k
on a side note, a high mileage 02 for 30k??? good luck waiting for that buyer.
[/quote]
wow you got a good deal, where did you find it?
The evo, I bought with 10k on it used… for 25k… with the remaining 6/60 warrenty
trade in on the mini they gave me 15 I owed 14.5 so 500 down…
I took a 66 month loan good god im never going to be done with it… with a 9%…
I overpay every month so im down to 19k
and BB it 27,000 -exellent 25,000-good
so im doing OK
My car is under a 2 year lease right now, but I am looking to refinance the entire balance to keep the car. I called last month to get my current balance.
I can get 7%@60 months from my bank, at least I could last month. That’s what I’m thinking of doing.
2006 mazda speed6, 10k miles
Current balance, $21.5k
Kbb Private party, $23k
Except you can score a new 2007 for about $23k before TTL (like I did last year), so that is a little innacurate IMO.
1997 vette
owe $415
Loan was for $5500 @ %7 for 4 years
Only 1.5 years into the loan
Value ~25K
I dont owe anything, the car is only worth 13ish stock i think.