Great! I owe $6800 on my car, and it might be totaled. How much $$ do I get?

[Ausm]

Originally posted by: edro13

Originally posted by: Ausm
1 dollar
Ausm

And you even took the time to add a signature...

Blow me


Costs a dollar also...


Ausm

 

[halik]

Originally posted by: waggy

Originally posted by: Red

Originally posted by: DougK62
So why did you pay so much for the car if you knew it wasn't worth it? Sounds like you did a poor job researching before buying. A smart person would never be in a position like yours with an old used car.

I bought the car for $6800.... at the time, in March of '04, it was a good price. I also purchased a warranty for $1000. So my loan was close to $8,000, and now... 12 months later, the pay off is $6800.

yeap. considering with most loans you pay off the interest first (wich should be against the law).

My sister-in-law was shocked to find that out. She baught a car for 8k at 24% interest. paid on it for right over a year. Wanted to buy a new car (ended up getting a 2002 trooper with 59k for $15k! at 10%) and was shocked she still owed almost 8k on the car.

24% interest?~!?!?!

HAH please send me your money if you're gonna give it away. I could at least get pay off my senior year of u of michigan...

I don't buy cars unless i can get em for at least 2g under kbb

 

[Armitage]

Originally posted by: Red

Originally posted by: DougK62
So why did you pay so much for the car if you knew it wasn't worth it? Sounds like you did a poor job researching before buying. A smart person would never be in a position like yours with an old used car.

I bought the car for $6800.... at the time, in March of '04, it was a good price. I also purchased a warranty for $1000. So my loan was close to $8,000, and now... 12 months later, the pay off is $6800.

There's your mistake - a $1000 warranty on a $6800 car!?!

 

[waggy]

Originally posted by: halik

Originally posted by: waggy

Originally posted by: Red

Originally posted by: DougK62
So why did you pay so much for the car if you knew it wasn't worth it? Sounds like you did a poor job researching before buying. A smart person would never be in a position like yours with an old used car.

I bought the car for $6800.... at the time, in March of '04, it was a good price. I also purchased a warranty for $1000. So my loan was close to $8,000, and now... 12 months later, the pay off is $6800.

yeap. considering with most loans you pay off the interest first (wich should be against the law).

My sister-in-law was shocked to find that out. She baught a car for 8k at 24% interest. paid on it for right over a year. Wanted to buy a new car (ended up getting a 2002 trooper with 59k for $15k! at 10%) and was shocked she still owed almost 8k on the car.

24% interest?~!?!?!

HAH please send me your money if you're gonna give it away. I could at least get pay off my senior year of u of michigan...

I don't buy cars unless i can get em for at least 2g under kbb

you might want to re-read my post. I did NOT pay 24% on a car. my sister-in-law did. Then traded in that car on a 02 trooper for 15k at 10%.

Though i asked her her payments. She said its $500 a month. for 7 years. That just does not seem right. $500X12=$6000X7=$42000 The numbers just seem wrong.

And yes i know she got riped off. When she told me that she got it i told her i could have gotten her the same vehicle for ~9k. heh

 

[Red]

edit: btw...good luck red. did you take your audio stuff out of the car?

Thanks Aharami. I took my sub and amp out, left the speakers and head unit in. I was going to take them out but the insurance adjuster said she will see how much $$ the speakers add in value if the car is totalled and I can make a choice to either remove the speakers (lower the value of the car) or keep them in there. I don't have the stock speakers. The head unit is worth roughly ~130, the front components ~80, and the rear coaxials ~50, so if she offers me more than 300 or so, I'll just keep the system in there.