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Discussion Starter · #1 ·
i just got my 7thgen vic, its an 03, 6 months ago.... i still have around 12 grand left to pay off...should i trade in my 7thgen vic for an 06 si and convince myself its ok to have a negative equity and have a greater car? :confused:
any advice would help....
 

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you are only upgrading if you can use those things. Going from my GS-R to a vet would be nice, but really I don't need what a vet has to offer, there for it's just a waste of money for me (unless we're talking about track cars, but I'm assuming we are just talking about daily drivers).

I would really look at what the Si has that the 7thgen doesn't have, then figure out if the extra money is worth those options. Maps are far cheaper than the Navi system, even if they are an pain. I say no, but that's just because if the 7thgen is fine, why change it. So I say no simply because the Si has nothing I NEED, just stuff I want, but I'm also a cheap a$$.
 

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Its difficult to answer your question since it seems like one related more to financial aspect than the actual car.

I don't know if this is helpful, but I wouldn't buy a car that would stress me out financially.
 

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claudeboi said:
i just got my 7thgen vic, its an 03, 6 months ago.... i still have around 12 grand left to pay off...should i trade in my 7thgen vic for an 06 si and convince myself its ok to have a negative equity and have a greater car? :confused:
any advice would help....
Heres the two-handed politician answer:

On 1 hand: When the new SI's come out, they will scarcely sell under MSRP and the bank may not allow you to roll you negative equity into a new loan if you are paying MSRP or more on the car. SOme banks will loan on 110% + of a vehicle but you will likely get an apr of 10% or greater. I have seen APR's as high as 34%.

On the other hand: If you would enjoy the SI more, then it might make sense. If you dont enjoy your car, you are less likely to take care of it
 

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hahaha 110%, my loan for my LX is at 135% of the car.... stupid negative equity. But my apr is only 4%, but it's a 2 year loan.... that's right $1000/month payment. I want to pay the car off before my fiance starts school and we can't afford a car payment period, spend the money while I have it!!! lol
 

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Discussion Starter · #8 ·
Jrfish007 said:
you are only upgrading if you can use those things. Going from my GS-R to a vet would be nice, but really I don't need what a vet has to offer, there for it's just a waste of money for me (unless we're talking about track cars, but I'm assuming we are just talking about daily drivers).

I would really look at what the Si has that the 7thgen doesn't have, then figure out if the extra money is worth those options. Maps are far cheaper than the Navi system, even if they are an pain. I say no, but that's just because if the 7thgen is fine, why change it. So I say no simply because the Si has nothing I NEED, just stuff I want, but I'm also a cheap a$$.
hmmm...now im leaning towards more to stay wit my car...omg why this dilemma...i really like the new si and i also like my 7thgen......
 

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Jrfish007 said:
hahaha 110%, my loan for my LX is at 135% of the car.... stupid negative equity. But my apr is only 4%, but it's a 2 year loan.... that's right $1000/month payment. I want to pay the car off before my fiance starts school and we can't afford a car payment period, spend the money while I have it!!! lol
Are u seriously payin that much for that civic a month. Is that something u chose or did u have to or something??
 

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Chris3k2 said:
Are u seriously payin that much for that civic a month. Is that something u chose or did u have to or something??

Yes, I'm paying 1000 a month because at the moment I can afford that. In 2 years my fiance will go to college full time and not be owrking, I can not afford a car payment. So I am just paying the car off in 2 years. If it wasn't for the stupid negetive equity, I would have it payed off in about 18 months, but right now it will take about 21 or so months to pay off the car. Make high payments, you can avoid tons of interest. Sure I could by a BMW or something, but then I would have to make payments while she is in school, and we can't afford that.

I could have gone for 5 years and had payments aroun 390 or something too, but then my APR was like 15%.
 

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I wouldn't trade in with negative equity. I would just pay off the car and keep driving it. The longer you keep a car the more value you are getting out of it. Once you pay it off then you can focus on getting whatever the hot car is at the moment.
 

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i have an 04 civic. 15kcdn owing on it roughly. and it only has 17,000 km on the engine.
had it for about 17 months
it will be another 3-4 months when i sell/trade it. im not sure if im going to trade it in a quick quote they told me i would get 15,000 cdn trade in on my vic. which would make me break even where i could sell it for 17 or even 18k.

what to do :|
not to mention my dealer still has NOT gotten the coupe or sean in. so god knows when my lil si wil come
and im trpped on colors its settled down to

white
rallye red
black
or fiji blue.. ahhh i need to see in person. im leaning on red though :)
 

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mplscivic said:
I wouldn't trade in with negative equity. I would just pay off the car and keep driving it. The longer you keep a car the more value you are getting out of it. Once you pay it off then you can focus on getting whatever the hot car is at the moment.
I have to agree with mplscivic and would recommend the responsible thing. Cars are the worst investment around and negative equity would make it worse. Plus you've got a reliable vehicle already. Car fever is nasty but can be remedied by looking at it realistically.
 

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mesaba said:
I have to agree with mplscivic and would recommend the responsible thing. Cars are the worst investment around and negative equity would make it worse. Plus you've got a reliable vehicle already. Car fever is nasty but can be remedied by looking at it realistically.
I agree.

If you look at my sig you can see I have been through a crazy number of cars in 8 years. I bought the cars when I wanted to without considering cost impact too much because I could. Now that I'm married and have a baby on the way that lifestyle is gone and replaced by one that says buy the best car you can comfortably afford and keep it until the wheels fall off. Between my Civic for work commute and my wife's Pilot for family usage we shouldn't need another vehicle for a long time and plan to keep it that way.

"Why are you telling me this?" you ask? Well... This decision depends alot on your lifestyle (young in highschool? married with chilren?) and what you can afford comfortably. No one can make this decision for you...
 

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Only if you can seriuosly afford it. Insurance will also go up as well as gas consumption and you'll owe a lot more money now. It would suck to live paycheck to paycheck just so you can have the SI.
 
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