Blazing GT

i wouldn't even want to know what your monthly payments on that TL is..

deltaboxxx

iTrader: (1)

LOL. Let's just say, a challenger car payment could be less if I got an srt8.

Blazing GT

well delta this is my opinion:
If your payments are def. going to be lower with a SRT-8, and your heart is set on it....def. do it!

I hope you keep the exhaust and coilovers to get back some money!

just make sure this is what you wanna do! I had my heart set on a RL for a while and went for it!

YeuEmMaiMai

wait what?

he owes 32K, they want to give him 17K that leave a deficit of $15K there is NO way that he is gonna be pay less.......unless his loan term is longer or his father is paying off the part of or all of the difference........and both of those are bad ideas for various reasons.......

deltaboxxx

iTrader: (1)

^ who said my father was paying for any of it? i pay for my own car payments...and if i wanted to pay the negative,(which i dont)
i wouldnt need my dad to pay for it. thats why i decided to keep it for now,i meant that if i were to buy an SRT8 outright as a new loan the payments would be lower than my TL.

deltaboxxx

iTrader: (1)

the only thing my dad is giving me is his credit. (better APR and cheaper insurance)

YeuEmMaiMai

you said your car payment would be lower so in order for that to happen one of the thing I mentioned had to have happned..........


there is NO WAY to get into the car you mentioned with lower payments than what you are making now.....the numbers do NOT add up

sixsixfour

how is buying an SRT8 on a new loan cheaper than the TL?

suppose a TL is $30K. divide that for a five year loan at (assuming) no interest, thats $500/month.

a Challenger SRT8 sticker with basics is about $40K. at five years, no interest, thats about $660+/month.


now if you owe $15K on the TL, where is it gonna go if you arent paying for that negative and your dad isnt either? you said you dont pay the negative and you wouldnt need your dad to do it as well.

$15K on top of either of the above monthly payments at ZERO interest is another $250/month. you'll be at $750+ easy before interests for a five year loan on the SRT8.


I dont know how you can call that a lower loan payment, unless you are paying more than that right now.

Blazing GT

you guys are messing up. He said prior that he owed 42K$.

sixsixfour

on this it said he owed 15K balance after trade in value:

either way its not a sound financial decision to do, especially at this time.

deltaboxxx

iTrader: (1)

pull your head out of your ass.

i said,i dont need my dad to pay any negative,if i CHOSE to go that route i would pay the negative MYSELF,which i choose NOT to do. (the reason i decided NOT to get the challenger right now) so i can lower the negative monthly rather than spend all 15K at once.

i simply mentioned that if i were to buy an SRT8 SEPERATE from my TL on a new loan (as if i never owned the TL) the payments could be cheaper!

i paid $44K for my TL. im not telling my interest,but my payments would be the same or lower if i were to buy an SRT seperatly. (depending on apr and terms)

sixsixfour

buying an SRT on a SEPARATE loan is an easy 40K+ with interest. since you paid 44K on your TL, how different would that be? you are still paying for a loan over 40K. even with the best credit, you still will be paying at least $650+ with interest on an average 5 year loan.

easy on the insults man. i think its you who needs to pull your head out of your ass. im being respectful to your posts but you just turned juvenile in a blink of an eye.

go ahead with what you want to do. I work for Chase in the bankruptcy department and people like you put the money in my pocket every paycheck. I for one would love to see more people screw themselves over in debt.

deltaboxxx

iTrader: (1)

[QUOTE=sixsixfour;10002726]buying an SRT on a SEPARATE loan is an easy 40K+ with interest. since you paid 44K on your TL, how different would that be? you are still paying for a loan over 40K. even with the best credit, you still will be paying at least $650+ with interest on an average 5 year loan.

/QUOTE]

650 a month for 5 years is LOWER than my TL payments.

thats what my whole point is!

im not buying a car seperatly. im not paying the negative to buy another car,and im not getting another car and ADDING the negative.

thats why i said pull your head out of your ass.


all im saying is that if i had never owned the TL and i went to buy a SRT outright as if i never owned a car before the payments would be lower.(if i bought a car brand new i could have put a down payment and financed less than 44K[thus lowering the payment],when i got my TL i put $4K down and still had $44K to finance.)

im not getting the challenger now,i already stated that in my very first post. because i dont want to have to pay so much negative.

the challenger can wait.

and the other post i said was that i was just clearing up the fact that my dad IS NOT paying for anything,just using his credit to get me a good apr. (by putting it in his name)

if i were to pay the negative it would come from my pocket not my dads.

thats all i was trying to get across but it dosent seem like its working. thats frustration,not being juvenile. so sorry if i came across that way but i dont know how many times i have to explain what im trying to say to make people understand it.

deltaboxxx

iTrader: (1)

generally speaking for every thousand financed is usualy like
$18-$29/month,something like that.
(i know when i bought my car it was 28$ per thousand im pretty sure)

so cutting 4-5K could cut a car payment pretty good.

sixsixfour

now that you cleared things it makes more sense.



every thousand financed is around $25 more per month.




good luck.

OffTopik

I live in jersey where car prices seem to be high, but paying 90K for a TL and a challenger seems crazy IMO. esp at you age. but if you can afford it and really want it go right ahead. Debt is the worst thing in the world so be carefull.

YeuEmMaiMai

lol the OP has so many contradictions in this thread it isn't even funny, he then tries to fill in back information after we question his comments...this does not add up

johnny--2k

Why the hell did your TL cost you $48,000 in the first place? That's insane!

On a 5 year loan, with great credit, expect to pay about $22-23 per thousand financed at the average going rates, in the 5-7% range. The fact that you owe $32,000 on a 2006 TL scares the crap out of me. Either that is one special TL, or you got hosed big time.

On a side note, I traded my 05 TL 6MT/Nav in after 2 years of ownership, with 48,000 miles on it, and got $21,500 for it, from a dodge dealership. They originally offered me $19,500, then I went down the street to my Acura dealership, they told me flat out they would give me, or the dodge dealer, $21,500 for it, so Dodge agreed to it, and Acura bought my car from Dodge. Sold it less than a week later to another friend of mine for $23,000. He stole it from them!

Anyways, I love my SRT.....miss the Nav and a few little features of the TL, but overall, I am one happy camper!

anarchy[sear]

iTrader: (1)

^ he had a negative trade in from his previous car hence the $44k price tag.

johnny--2k

ahhh....that makes sense then! I was so confused for a minute. I must have missed that somewhere while reading briefly through the thread!

deltaboxxx

iTrader: (1)

i dont get what dosent add up?

its real simple.

i paid 44K for my TL.(not including the 4K down)

if i got a chellneger instead of a TL i could have lower payments if i was never negative on another car to begin with.
(44K for the challenger plus 4K down leaving only 40K financed for 5 years is STILL cheaper than i am paying for my TL)

i traded in my benz for my tl after less than a year and was extremely negative. hence 44K TL.

im not buying the challenger i said that in my very first post.

if i was never upside down on my benz(or owned it for that matter),and i didnt get my TL i could own a challenger for less than the TL how is that so fuckin confusing? i dont get it.

all i was doing is comparing monthly payments.

my dads SRT8 payment is lower than my TL.

get it? i hope so.

Blazing GT

at this thread....Reminds me of My thread at the ramblings...do you delta!!!

deltaboxxx

iTrader: (1)

people just took things entirely wrong. 1 person thinks im going to pay 60K for a challenger,another thinks im going to buy the other car and have 2 44K cars..

i dont know where they all got these ideas by me saying a challenger would be cheaper to own monthly than what i currently pay (ie my dads)

deltaboxxx

iTrader: (1)

instead of my previous cars

YeuEmMaiMai

it's not that we took things wrong, it's more like you didn't give all the details until you were pressed for them,

if you would have stated all of this up front, this thread would have been a whole lot different...........

deltaboxxx

iTrader: (1)

i suppose. but i didnt expect to be grilled for all the specifics.

eaglegreen48

keep the TL

CJ0920

OMG dude your avatar is freaking me out...seriously!

Thornheezy

keep the TL for sure. especially with gas prices this high... what would be the difference in cost per month on gas when youre chugging 16 mpg with the R/T?
and that would be on top of loan costs.

may not seem like much on a week to week basis, but at the end of the year all that money coulda gone to the payments (or mods) to your TL

rajunwild

Damn....you must be loaded to have your dad buy you a car at age 23.

Xpditor

I was offered $18,000 for my '04 TL on a 2008 TL-S discounted $3,000 and I laughed and walked away.

BTW, my '04 has only 14k miles and is showroom pristine inside, outside, and underneath.

I would do some comparison shopping.

JetJock

32K!!!! Dude....you need to stop buying cars on credit. Keep the TL and get yourself out of debt.

JetJock

I thought I was the only one on this forum with a ''04 TL that just hit 15K. I's been garaged since new, never driven in heavy rain or snow and is pristine like yours. I even had the seat leather replaced with '05 style cushions. I'd never trade it for less than $20,000.

deltaboxxx

iTrader: (1)

my dad didnt buy me a car. i pay for my tl. i am married and my wife is in the us navy and i also work/run a business.


ps. this is my 6th car.

1.chevelle
2.offroad toyota truck
3.bagged and body dropped chevy s10
4.fully built honda civic
5.mercedes C350
6.TL

all of these were built by me from stock. the TL and CIVIC were all paid for by me,the rest were my parents. but i wont confirm if theyre loaded or not.

WalkerUA6

iTrader: (1)

Damn, - equity sucks balls huh. totally fucks u up from getting what you want...I wanted to trade my TL in for a 6spd 328HP g37 sedan. until i went in and they were gonna give me 20k for my 05TL AT (I owe 33) throwing that 13k ontop of a 40k car would have been 53k car. HA so much luck with that one.

Then I stepped back and realized....shit. this really sucks. I need to get my debt under control before I wont be able to eat and smoke cigs HAHAHHA. naw. exp sinnce you have a baby comming. It would be a bad financial decision. I know exactly where your comming from. YOU REALLY WANT A DODGE and i really want a infiniti but things arnt looking up. all i saw is fawk it.

deltaboxxx

iTrader: (1)

i dont have a baby commin i have a 2 year old lol..i duno where u heard i had one comming? unless that was a typo and u meant you have one comming?

LaCostaRacer

Wow, my head is spinning with this thread. You have told people to reposition their heads, but you need to reevaluate where your head is on this.
I couldn't see how on earth someone could get themselves so upside down on a TL that actually depreciates slower than any Challenger would.
The quoted post answers this to me which is that you have had 6 cars in essentially 7 years of driving? The hit you have taken on depreciation is insane and completely answers how someone as young as yourself could get into this position. You have had nearly as many cars as me, but I'm double your age.

You have hinted having a high interest rate (I'm assuming you have crappy credit) and the payments would be lower with the Challenger. I must have missed how long the term of the new loan was going to be. Is this going to be a 7 year loan or something insane like that? There is NO way you're going to be saving money trading a TL for a Challenger. If you're payments are that then see about refinancing part of this loan or something like that possibly.

You also indicated that you have a 2 year old child- the TL is an infinitely more practical, economical, reliable, upscale, and likely safer car than a Challenger. OK, the Challenger is faster but being a responsible parent like you are. You wouldn't really need all the Challenger's capabilites on the street right- with your kid in the car?

Shame on your Father for even helping you get into even more debt than you already are. I don't believe you need to confirm your parents loaded or not because it seems pretty clear that they ARE NOT. You wouldn't have been under water if Daddy's Benz was paid for with cash.

If you are not putting money in a 401K or at least saving for a house/condo, you really shouldn't be going down this path at all. There's a book called the 'Millionare Next Door' that may show you the errors of your ways and quite likely your Fathers as well. The term 'Under Achiever Of Weath' would be the term to key off of.

I know this is a car forum and not a financial advice forum, but stuff like this really pains me. The goal for most people should really be to own a car out-right or if you're going to have a loan at least have the cash available earning more than the interest accrueing on the car loan. It's difficult to do when your young and probably why I didn't own a TL until I was in my 40s.

deltaboxxx

iTrader: (1)

^ for the last time,im not trading my car in for a challenger. i dont know how many diff ways i have to say that. i knew before anyone told me that trading it in wouldnt be a smart move once i realized how much they were offering me.

every car ive owned HAS been paid for except the benz which i only had for a few months.

my apr is like 4% i believe..i cant remember to be truthful but i know for fact its below 8% which acura offered,the benz was mine. not my dads. i also paid the payments on the benz. no money from my dads pocket. all he did was take me to the dealership,i told him i wanted it,and thats all.

as for my dads credit score its about a 780. hes a 100% diabled retired veteran from the military,he owns a furniture business(which me and my mom run) and he works full time on the military base. no need for assumptions of being broke. he owns all of his cars except the challenger,a 00 corolla,06 camry,and a 07 chevy duramax deisel and now his challenger. the challenger is the first he hasnt bought cash since the corolla.

i have no plans to buy a house because my wife is in the military and we will be moving every few years.
i have only been driving for 5 years,if it really makes much difference to you.

i DO agree that the challenger isnt the greatest car to have as far as speed + my son,but i never drive like a jackass with my son in the car.

1075

It's your call, but if I was going to get car-poor, I wouldn't do it on a Dodge. I have owned several Mopar products and will never own another. IMO you are better off with the TL, it's a car that's both classy, reliable and fun to drive without being "in your face". The Dodge is a fad, it's all styling and power but it is neither reliable or state of the art in any category. That's just my opinion, you gotta do what makes you happy.

The Dodge will help you meet people though, you'll have lot's of quality time with the service writer at your friendly Dodge dealer.

BEAR-AvHistory

I don't know if its just me, but reading this thread makes my head hurt.