In need of some help

[whiteLS1TA]

i have a 2001 trans am non-ws6 with 43000 miles, garage kept, mostly stock, brand new tires, and all that good stuff. i got my car for 18,000 and i am finacing it right now i am 20 years old and as you know i dont have that greatest of an APR so im paying to much for the car. i owe about 11,000 on it but and my monthly payments are 350. Insurance 260 monthly. rent 400, bills none. so my question is should i trade it? sell it? or ride it out and keep my baby? reason being is because im in college right now and i cant really afford my car right now, and when i put it up for sell i got some low ballers afforing me 7000 for my car. and i dont really know how the whole trade in process works. so can some one please help me out?!

[Spaz]

i have a 2001 trans am non-ws6 with 43000 miles, garage kept, mostly stock, brand new tires, and all that good stuff. i got my car for 18,000 and i am finacing it right now i am 20 years old and as you know i dont have that greatest of an APR so im paying to much for the car. i owe about 11,000 on it but and my monthly payments are 350. Insurance 260 monthly. rent 400, bills none. so my question is should i trade it? sell it? or ride it out and keep my baby? reason being is because im in college right now and i cant really afford my car right now, and when i put it up for sell i got some low ballers afforing me 7000 for my car. and i dont really know how the whole trade in process works. so can some one please help me out?!

how many more payments do you have left? have you tried refinancing with your own bank?

[whiteLS1TA]

how many more payments do you have left? have you tried refinancing with your own bank?

i dunno how many more payments i have left, although i never really thought of refinancing. im only 20 so i dont know how good that would go, i might ask ol ma and pa to co-sign for me.

[Spaz]

i dunno how many more payments i have left, although i never really thought of refinancing. im only 20 so i dont know how good that would go, i might ask ol ma and pa to co-sign for me.

haveing some one with flawless credit co-sign will greatly reduce your %... depending on what way you want to go you could pay it off faster... or just extend the time line and have far less costly payments...

[Spaz]

when i bought mine i paid 32,000 for it at a dealer... my monthly payments were $550+ a month... my insurance was 140 a month (now 209 from tickets...) and my rent was 600... i was fucing working my ass off...

[Jays00ss]

If you have a good payment history, You should be able to refinance the loan and reduce your payment. Also shop around for insurance, I went with Esurance and saved a bundle. Insurance companys vary quite a bit. You can also raise your deductable to lower your insurance rate as well, but check with your finance company to see what the minimum deductable is.

I know I am quite a bit older than you but my wife and I insure 5 cars between us and I pay $175 a month for all 5. 4 fully covered and 1 liability.

What ever you do, Do not trade the car in, you will get fucked every time. Look at the Kelley Blue Book prices in your area and base your sale off that. You can at least get your pay off if not a little more for the car.

[0rion]

I would spend some time addressing that insurance first. Have you called around and got quotes from different places? Most places you can do quotes online now. I would see if you could drop that payment a little. You're taking a beating on insurance but that's understandable for your age and the type of car. I would still try to find a place cheaper. I would look at what spaz said and try to find someone to cosign and lower your interest rate which will reduce your payment. As a last resort you could see if you can finance it a little longer. You'll pay more interest on the car in the long run but it'll lower your payment quite a bit if they'll let you tack on 6 months. That would be a last resort but it's an option.

[whiteLS1TA]

thanks for the input guys i really appreciate it. but i think im ready for a different car though i mean i can kept up with the payment i have all this time. but my issue is i need a different car because my TA is my only car, so everyday im putting miles on it and im risking things going wrong with it. and if something would to go wrong i wouldnt have the money to fix. I can really enjoy it so im wanting to get rid of it then getting a TA or Camaro later on in life wheni can enjoy it and not worry about payments or fixing it up. sell is an option but people over are low balling me.

[Jays00ss]

thanks for the input guys i really appreciate it. but i think im ready for a different car though i mean i can kept up with the payment i have all this time. but my issue is i need a different car because my TA is my only car, so everyday im putting miles on it and im risking things going wrong with it. and if something would to go wrong i wouldnt have the money to fix. I can really enjoy it so im wanting to get rid of it then getting a TA or Camaro later on in life wheni can enjoy it and not worry about payments or fixing it up. sell is an option but people over are low balling me.

Take it from somebody that knows, Don't be in a big hurry whatever you do. Take your time in trying to sell. If you do decide to keep it, shop around. Don't make a hastey descion and end up loseing a but load of money.