Decisions, Decisions, Help me out SVTP...

[klarkent42]

When I found out I was going to be a dad, I made the executive decision to sell my Cobra when the time was right. Well, that time has come. The baby is due in February and I gotta start putting some cash aside. My car is expensive to maintain (car pmt, ins, gas, etc.) and I'm looking for something that's gonna be more in my new budget as a father.

I currently have about $17k left on the cobra. My buddy said he really likes my car and said he would take over my payments if I ever decided to get rid of it. Also, he said he would let me take over payments on his 04 G35 sedan (about $6k left on it and less than a year). Another thing, there's an 03 Audi A4 I've had my eye on that's in really good condition. That brings me to the situation...

At this point, I have 2 options:

Option 1: Sell the Cobra, buy the Audi A4.

Option 2: Let my buddy take over my Cobra payments and I take over the G35 payments.

If you were in my shoes, which option would you choose?

 

[RCMPSVT]

I would sell the cobra make some money back and buy the A4

Bad market but the A4 is nicer than the G35 IMO and your car is worth more than the 17K thats left on it

 

[blownfox]

How many miles are on the G35? If the miles are good than that sounds like a really good deal. If you buy an A4 you'll be paying on it for more than a year. IMO.

 

[yellow03cobra]

refinance the cobra for a cheaper payment and keep the car. Have a family member watch your child to avoid day care. Problem solved, all other expenses you will barely notice and will work them in. 2yr old daughter here.

 

[69mach03]

I think things get a little more complicated when it comes to parting ways with a car that means a lot to you. I don't know how you are, but I'd hate to sell my car to a friend, or sell / trade it locally. Doing so would create a constant reminder of how I got into a financial struggle and was forced to give up a car that I'd planned to keep forever. If you sell it to someone outside of your county (or state), you may never see the car again -- and for me, that would be how I'd like it. Otherwise, some would rather "keep it in the family" so to speak -- in that case, throwing the keys to your buddy may be the best decision. I vote for selling the car outright, taking the difference after paying off the loan to use as a down payment on the replacement car that you want.

 

[SupaNOVA]

shoulda pulled out:shrug:

 

[klarkent42]

The G35 has about 90,xxx miles on it but I'm not planning on keeping it for a long time. Although the Audi's I've seen have around the same mileage if not more than my buddy's g35. The one in particular I'm looking at has 95,xx miles on it.

It really sucks to have to get rid of my cobra, and just like 69mach03 said, I planned on keeping my car forever, it's just impossible. I've actually already inquired about refinancing it, but it would'nt make a huge difference. The main issue isn't just the monthly payment, these cars swallow gas like no other and the maintenance gets expensive (I always keep it in tip top shape). I do, however, plan on buying another terminator in the future when my kid's gotten a little older.

 

[klarkent42]

shoulda pulled out:shrug:

I did :shrug: lol

 

[RCMPSVT]

So this chick hasd been preggo for 4 months and hasnt told you??

 

[klarkent42]

So this chick hasd been preggo for 4 months and hasnt told you??

No, I knew. I have known. She's my girlfriend, we found out when she was about 2 months pregnant. It's all good though, we're happy. It was just unexpected.

 

[RCMPSVT]

No, I knew. I have known. She's my girlfriend, we found out when she was about 2 months pregnant. It's all good though, we're happy. It was just unexpected.

Hey man its life shit happens, once the kid is born you wont be able to think of life without him/her goodluck...........Id sell mine if I had too for this in a heartbeat, your doin the right thing

 

[yellow03cobra]

part time job or get married and use the tax returns to make the car payments. my tax return, I claim 1 for state and federal my wife claims 0 we get about $4000(joint return) a year back in taxes with our kid. If that isn't enough there is all ways three paycheck months to help pay for it. This probably won't help you for taxes this time around though. The kid would have to be born in december to claim it this feb.

 

[Blackness03]

keep the car. dont sell your manhood away. next thing you know youll be riding around in a minivan with jegs stickers all over the back hitting up all the car shows with the family wishing you had never sold your cobra

 

[greenstang1313]

I'd take the G35 over an Audi

 

[Chuckler3]

your part of the country i'd take the g35 even though i don't really like them.. they're a great deal more fun to drive than the audi's.. where i'm from i'd definitely take the audi for the awd...

but your car is probably worth more than the 17k you have left.. that's a toughy..

 

[klarkent42]

your part of the country i'd take the g35 even though i don't really like them.. they're a great deal more fun to drive than the audi's.. where i'm from i'd definitely take the audi for the awd...

but your car is probably worth more than the 17k you have left.. that's a toughy..

The way I see it, the g35 is worth more than the $6k he'd be letting me take over so it would balance itslef out. I looked them up on kbb.com and they're worth around 12k-15k :shrug:
I'm leaning more towards the G35 at this point...