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So just did a credit app over the phone with carmax and they said I was approved.... BUT...


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How long have you had the GTO? It seems odd to owe $18k on a 5yr old vehicle "worth $10k". What are similar vehicles going for on eBay/Craigslist? Why are you wanting out of what sounds like a nice car?

 

 

I bought it new in 07 and paid way too much for it to begin with. Its a long story but it got repo'd back in 09 and had to come up with around 4k to get it back. during that time the interest kept going and I essentally started back from square one. Then the bottom dropped out on them especially ones with high miles like mine... its also had a lot of problems and its very exspensive to maintain.... $800 for tires(cheap ones), $1200 for brakes, gas guzzler, ect... plus its not safe to drive in the rain... just over it for sure...

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How long have you had the GTO? It seems odd to owe $18k on a 5yr old vehicle "worth $10k". What are similar vehicles going for on eBay/Craigslist? Why are you wanting out of what sounds like a nice car?

 

 

I bought it new in 07 and paid way too much for it to begin with. Its a long story but it got repo'd back in 09 and had to come up with around 4k to get it back. during that time the interest kept going and I essentally started back from square one. Then the bottom dropped out on them especially ones with high miles like mine... its also had a lot of problems and its very exspensive to maintain.... $800 for tires(cheap ones), $1200 for brakes, gas guzzler, ect... plus its not safe to drive in the rain... just over it for sure...

 

I think it's time just to "pay the piper" and drive until you get the loan under what you can sell it for. The reason to overpaid for your new 2006 car you bought in 2007 is you most likely rolled over negative equity from your previous car loan. Stop the madness, your wallet will thank you for it!! $800 isn't that unusual for tires these days, they have gone up a LOT in the past 5 years or so.

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