[P1ng]

Hey guys i just registered on this site because i want to get rid of my 07 civic si for a mustang gt and i wanted to know my options. i am with an si forum/club called 8thcivic.com but no one wants to hear about me trying to get rid of my car to get a mustang lol so im not getting any help from them. im not sure how much i owe on my car right now but i was going to wait until i refiance it so i wont owe so much. If anyone could help me out and let me know what my options are i would much appreciate it. Thanks guys.

[Agent Jones]

what year mustang

[P1ng]

one of the newer ones

[P1ng]

Bump

[Agent Jones]

ok for a 05-07gt your looking to spend around 21-30k depending on mileage and if you buy it new or used.

[TheDan]

I am selling my 06 GT

if youre serious we can work something out.

heres alink to the thread

2006 GT F/S

Dan

[Agent Jones]

Originally Posted by P1ng

Hey guys i just registered on this site because i want to get rid of my 07 civic si for a mustang gt and i wanted to know my options. i am with an si forum/club called 8thcivic.com but no one wants to hear about me trying to get rid of my car to get a mustang lol so im not getting any help from them. im not sure how much i owe on my car right now but i was going to wait until i refiance it so i wont owe so much. If anyone could help me out and let me know what my options are i would much appreciate it. Thanks guys.

also if you refinance it doesnt change the amount you owe. it will change the interest rate and possibly stretch out your payment over a longer period of time, but your principal you owe will remain the same. Sometimes it will be actually be higher if they charge any type of refi fees. Its not very smart to refi something your about to sell just an free FYI for ya from a person who deal with them at work

[REDHOT86]

Congrats on deciding to make the change. -JM

[Agent Jones]

Originally Posted by REDHOT86

Congrats on deciding to make the change. -JM

yeah i almost made the same mistake when i was buying my 07gt. I was gonna get a Civic Si coupe but they didnt have any and then i noticed it was supreme gas only. I already have one vehicle thats supreme only and dont need another.

[P1ng]

Originally Posted by Agent Jones

yeah i almost made the same mistake when i was buying my 07gt. I was gonna get a Civic Si coupe but they didnt have any and then i noticed it was supreme gas only. I already have one vehicle thats supreme only and dont need another.

well i fill up on 93 on chevron only gas its like 25bucks lol and most of the guys on my forums get around 500miles to the tank.

Originally Posted by Agent Jones

also if you refinance it doesnt change the amount you owe. it will change the interest rate and possibly stretch out your payment over a longer period of time, but your principal you owe will remain the same. Sometimes it will be actually be higher if they charge any type of refi fees. Its not very smart to refi something your about to sell just an free FYI for ya from a person who deal with them at work

Well the thing is, is that i have a huge interest rate because of my loving mom :P and since i started out with no credit i should have pretty good credit considering ive made every payment on time for a year now. Correct me if im wrong please thats why im here.

[Agent Jones]

Originally Posted by P1ng

well i fill up on 93 on chevron only gas its like 25bucks lol and most of the guys on my forums get around 500miles to the tank.




Well the thing is, is that i have a huge interest rate because of my loving mom :P and since i started out with no credit i should have pretty good credit considering ive made every payment on time for a year now. Correct me if im wrong please thats why im here.

you are correct about that. if you have good credit now and you refi it will take your moms name off of the car and put it in yours only. You may receive a lower interest rate, which in turn can lower your MONTHLY payment. However the amount you owe on the car will be the same. The amount you owe is what someone will have to paythe bank to buy the car from you. The first thing you need to do it decide if you gonna be able to sell it or not. If you can sell it then dont refi it. Have the person who is gonna buy it from you pay your bank and that will get it out of yours and your moms name. Then get a new loan for your new or used GT. If you wanna keep it and get it out of your moms name then you can try a couple of banks to see if they will let you refi into your own name and give you the new interest rates and payments. if you like the terms then go for it.

[P1ng]

Originally Posted by Agent Jones

you are correct about that. if you have good credit now and you refi it will take your moms name off of the car and put it in yours only. You may receive a lower interest rate, which in turn can lower your MONTHLY payment. However the amount you owe on the car will be the same. The amount you owe is what someone will have to paythe bank to buy the car from you. The first thing you need to do it decide if you gonna be able to sell it or not. If you can sell it then dont refi it. Have the person who is gonna buy it from you pay your bank and that will get it out of yours and your moms name. Then get a new loan for your new or used GT. If you wanna keep it and get it out of your moms name then you can try a couple of banks to see if they will let you refi into your own name and give you the new interest rates and payments. if you like the terms then go for it.

what do u mean figure out if i can sell it or not? but the interest rate from the bank will go down meaning i wont owe as much right? im very confused.

[Agent Jones]

Originally Posted by P1ng

what do u mean figure out if i can sell it or not? but the interest rate from the bank will go down meaning i wont owe as much right? im very confused.

I mean make a decision if you wanna keep the Civic or sell it and get a GT. If you wanna sell it then dont refi, if you wanna keep it and maybe get a lower interst rate then refi it. They dont take the interest and add it to the the principal. The interest is calculated after the principal is. So you payment would go down but the amount you owe wouldnt. The car has a set number of payments needed to pay it off. Lets say you did a 60 month loan for 20k on the car. so they take 20k and divide it by 60 which equal 333.33 per month. The interest is added on top of that. you amount owed still goes down by 333.33 per month no matter the interest rate. the higher the interest rate means you will have a higher payment.

[P1ng]

ohhh ok. so if i wanted to sell it on auto trader or something how could i go and find how much i actually owe on the car without the big interest rate i have. then i would take that number and if its reasonable sell the car for that price then it would be like i paid off the car and id get the title and give it to the guy who bought my car then like i never owned a car go finance one?

[Agent Jones]

Originally Posted by P1ng

ohhh ok. so if i wanted to sell it on auto trader or something how could i go and find how much i actually owe on the car without the big interest rate i have. then i would take that number and if its reasonable sell the car for that price then it would be like i paid off the car and id get the title and give it to the guy who bought my car then like i never owned a car go finance one?

well if you wanna sell it for what you owe, then call your bank and ask for a 10-day payoff. interest is charged daily so they can tell you your pay off for that day. If you just wanna break even sell the car at the price the bank told you and if you get a buyer they will go to the bank and pay it off and receive the title from your bank. you will probably never see the title. it will go from the your bank to the new owner (if he pays out of pocket) or the new owners bank (if he gets a car loan for it). Even if you sell the car it will still show that you were paying on it for the months or years it was in your name. Thats now part of your credit history. You can start by going to your bank and tell them what your trying to do. They can give you directions on the best way to do it in regards to their policies. Sometimes its really hard to try and get a new car and sell a current car at the same time if they have liens(meaning bank really owns them) on them. The easiest way is to trade it in at the dealer when you buy your new car but they will rape you on the price.

[Ryan_65Stallion]

'06 graber orange gt ftw!

[Agent Jones]

Originally Posted by Ryan_65Stallion

'06 graber orange gt ftw!

didnt know graber orange was a color option. wow must be rare!!

[P1ng]

so should i sit down with a guy at a dealership and ask them how much the mustang would be if i traded my car in with how much i owe and stuff and he can give me a new price with the mustang and the negative equity?

[Agent Jones]

Originally Posted by P1ng

so should i sit down with a guy at a dealership and ask them how much the mustang would be if i traded my car in with how much i owe and stuff and he can give me a new price with the mustang and the negative equity?

you can do that but the dealer is gonna rape you on both your trade in and price of the car however it may be worth the time your gonna lose doing it yourself. If a dealership can get you a good deal it will make your life a lot easier. if not the best thing would to be find a buyer for your car and talk to banker at your bank. explain to them exactly what your trying to do. sell the civic to another buyer and buy a mustang from someone else without a dealership being involved. If

[P1ng]

ahhh. yeah i wouldnt mind selling my car to a person or a dealership but i wanted to by the mustang from a dealership