Unusual car payment question

[Patrick del Poker Grande]

Alright, so for those of you who saw my post in today's lunch thread, I've actually been considering selling my car for a while. From the day I bought it, I've had every intention of trading it for a WRX as soon as I wasn't upside down on my loan. It's a great car, don't get me wrong - I just really like WRXs and I intend to correct the wrong that is my wife's insistence on an auto when we bought the WRX we have now by doing it right and getting a stick now.

So anyway, to the point. I bought my Protege5 in January 2003 when Mazda was giving 0% financing. Free money - awesome! So... I go to buy a new car now and trade mine in. What are my options? If I just give the dealer my P5 and let him pay it off, I'll net something like $2k after my payoff, which I can put towards my new car with something like 2-5% apr.

Can I instead take $13k (or however much) from the dealer for my car, put that towards my new car loan to bring it down, and then keep paying my 0% Mazda loan until it's paid off myself, thus effectively cutting my new apr roughly in half?

[Fred G Sanford]

[ QUOTE ]
Can I instead take $13k (or however much) from the dealer for my car, put that towards my new car loan to bring it down, and then keep paying my 0% Mazda loan until it's paid off myself, thus effectively cutting my new apr roughly in half?

[/ QUOTE ]

Patrick,

You would not be able to do that because the title has to be given to the dealer you sell the car to (so the dealer can resell it). You can not get the title without paying the loan off. Depending on what state you are in the sales tax credit can offset some of the futrure interest expenses. Every state does not offer a trade tax credit though. Feel free to pm with any other questions....I am in the leasing business and deal with car dealers every day.

FGS

[witeknite]

The car is collateral for the loan so if you don't own the car, you have to pay the loan. Also, I'm right there with you on the WRX. I really need to pick me up one of those. What color are you thinking about?

WiteKnite

[daryn]

manual instead of auto transmission.... can someone tell me WHY?

[Patrick del Poker Grande]

[ QUOTE ]
I'm right there with you on the WRX. I really need to pick me up one of those. What color are you thinking about?

[/ QUOTE ]
I like the WR Blue, but we've already got a blue one. I also like the silver, but every other one out there is silver. I don't want a black car, although black WRXs do look good. I like the few red ones I see driving around, but I don't think I'd want a red car for more than one day. Yellow and white are definitely out. So... I guess I have to choose between not knowing which WRX is which in my garage (WRB) or not knowing which WRX is which in the parking lot (silver).

Actually, a bigger decision is sedan or wagon. We have a wagon now and I think I like the wagon better, but it's about 55/45 and I'd maybe get the sedan just to change it up a little.

[Patrick del Poker Grande]

[ QUOTE ]
manual instead of auto transmission.... can someone tell me WHY?

[/ QUOTE ]
You need to spend some time behind the wheel of a WRX. A stick is so much better driving. You are in better control of the car - you can control your rpms (very important in a turbo'd car), you get better power, you get immediate response, plus it's just much more fun as long as you're not just sitting in traffic.

[daryn]

i can understand that it is clearly more fun to drive when you are on open road, but most of the time i see it being a huge hassle.

also, about full control of your car, i just don't see it as that important. i'm not racing or anything.

[Patrick del Poker Grande]

I guess it's all in whether you enjoy driving or if you just want to get to point B. I for sure wouldn't want a stick if I were in a lot of traffic, like my wife or probably you NE guys, but I spend more time on the open road and in the twisties. Twisties = must have stick (or at least a sportmatic).

[ethan]

[ QUOTE ]
manual instead of auto transmission.... can someone tell me WHY?

[/ QUOTE ]

Auto's fine for most people. It's nice if you spend a lot of time in traffic and it's easier to learn. Judging by what I see on the LA freeways, it's also easier to eat/talk on your cell phone/apply makeup/read the newspaper/etc. Basically, get the automatic if you don't particularly care about driving.

But a stick's just more fun to drive. There's a lot to be said for the extra control over what the engine's doing, and it's the only reasonable choice if you're looking for a sports car.

[Sponger15SB]

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I guess it's all in whether you enjoy driving

[/ QUOTE ]

I enjoy driving.....


....on cruise control. Its the only way to drive.

[Joe826]

i just got one of these. off the CHIZAIN. just make sure it's an STI.

[astroglide]

i don't like the gold rims. scooby blue is ok but i would go black/silver probably if i got an sti.

[Patrick del Poker Grande]

Also, in case it gets lost in the other hoopla, thanks, Fred, for the help.

[ethan]

[ QUOTE ]
i can understand that it is clearly more fun to drive when you are on open road, but most of the time i see it being a huge hassle.

[/ QUOTE ]

Once you're used to it, it's no hassle. Of course, that may take awhile. I learned on a manual transmission and I've driven them ever since.

[InchoateHand]

Its not really a hassle, but I often find myself smoking a cigarette, drinking a cup of coffee, changing the music and gesticulating wildly at other drivers, and to incorporate shifting into this would be a little much. I really enjoy driving, but my car is primarily functional. If full-autopilot were available, I'd use it 98% of the time.

[Mike Gallo]

...dude you should feel honored, lurker Fred G Sanford just gave you a response. I almost advised you to shoot him a pm.

[ThaSaltCracka]

[ QUOTE ]
manual instead of auto transmission.... can someone tell me WHY?

[/ QUOTE ]wtf?????