Need Advice/Information About Trading My Car In..

[xilix]

I got my 2000 GT 2 years ago for $13,900 @ 8.5% (5 year loan). So far I've paid $6,600. If I traded it in for a 2000-2002 Audi S4 for roughly $17,000, how much would my payments increase? I'm paying $275 a month now, and I wouldn't want to go much more than $325'ish a month for the S4. I know absolutely nothing about this stuff and I'm terrible at math, so any info is appreciated.

 

[Wishing4Cobra]

How much do you have left to pay off? lets just say you got about 7,000 left. When you trade it in the dealer might give you however much you have left to payoff value. Even if they give you 8k for example and your payoff was 7k then you have 1k towards the audi. It really depends on the dealer. Also it also depends what interest % you qualify for the audi, and how many years you want to finance it for. Your payments might go up or down it just depends. Go through your local credit union and see what % rate they'll give you. And then go to the dealership. Good luck.

 

[Bullitt#918]

A word of advice...I was in charge of the maintance for the used cars at an Audi dealership for two years. I wouldnt worry about how much your payment is going to increase as I would about the cost to maintain that S4. The B5 S4 is a twin turbo 2.7 V6 that is a maintanance whore...I would hope that it has relatively low miles on it because repairing a high performance german car isnt cheap.

Good luck with it though I hope it works out for you...they are really fun cars

 

[earl lee]

A word of advice...I was in charge of the maintance for the used cars at an Audi dealership for two years. I wouldnt worry about how much your payment is going to increase as I would about the cost to maintain that S4. The B5 S4 is a twin turbo 2.7 V6 that is a maintanance whore...I would hope that it has relatively low miles on it because repairing a high performance german car isnt cheap.

Good luck with it though I hope it works out for you...they are really fun cars

Nah thats with any audi. They tear up if you dont perform the maintence on them to a T. Also dont all them german cars have black boxes that store mph, rpm etc etc.

 

[Juruense]

If the payoff amount on your car is more than the trade in value then you are upside down on your car. When you are upside down you should be thinking about making double payments not trading.

Use some common sense and self control to avoid screwing yourself financially.

 

[blinelaxd27]

if ur worried about your payments going up for a mere $50 a month... the s4 is gonna rape u on maintenence... its like 3k to change the clutch on that thing lol

 

[xilix]

If the payoff amount on your car is more than the trade in value then you are upside down on your car. When you are upside down you should be thinking about making double payments not trading.

Use some common sense and self control to avoid screwing yourself financially.

If I could afford to make double payments on my car, I'd have a Supercharged FRC Vette. Between the constant breakdowns and getting stuck in the snow, this Stang is eating me alive. I need to get out from under this car, even if it means taking a few thousand up the ass. What I'd lose to the loan I'd gain right back by not missing work, having cheaper insurance and using less gas.

A word of advice...I was in charge of the maintance for the used cars at an Audi dealership for two years. I wouldnt worry about how much your payment is going to increase as I would about the cost to maintain that S4. The B5 S4 is a twin turbo 2.7 V6 that is a maintanance whore...I would hope that it has relatively low miles on it because repairing a high performance german car isnt cheap.

Good luck with it though I hope it works out for you...they are really fun cars

My cousin has an A4 with 130k miles and that thing hasn't given him any problems at all. All he had to do so far was get the timing chain worked on, which was $600. Granted, the S4 is way more powerful than an A4, but does it really break down that much? How often does this car need maintenance? One of the main reasons I wanted this car is because it has similar performance to my Stang, but has AWD and is reliable (or so I thought). I guess I'll do some more research. As of right now this is the only car I could see myself switching to.

its like 3k to change the clutch on that thing lol

You can't be serious..

 

[Juruense]

If I could afford to make double payments on my car, I'd have a Supercharged FRC Vette. Between the constant breakdowns and getting stuck in the snow, this Stang is eating me alive. I need to get out from under this car, even if it means taking a few thousand up the ass. What I'd lose to the loan I'd gain right back by not missing work, having cheaper insurance and using less gas.

That is the most retarded f'n argument I have ever heard. You are basically saying I cannot afford this car so I am going to buy a more expensive one. Good luck with your credit score when making financial decisions like that. The best way and the only way to "get out from under" is to pay the car down until you owe less than it is worth.

What is the payoff on the note right now? Do you even know? What is the annual cost of ownership for the car you are looking at? You need to know the answers to these very basic questions...

 

[logan_yomtov]

ever $1000 you finance is about $20 a month in payment on a 60month term.

you're looking at a car thats $4k more which equals about another $80 a month in payment. You're also probably a couple grand upsidown on your trade.

I think you're looking at too much car if you can barely afford what you ahve now. Repairs on an audi are EXPENSIVE and the bi turbo v6 in the s4 is completely different from the 1.8l 4cyl.

you should just buy cheap ford ranger or something, work more and save your money for a nice toy. not somethign that has to be your primary form of transportation.

 

[TrueBlueGT]

I got my 2000 GT 2 years ago for $13,900 @ 8.5% (5 year loan). So far I've paid $6,600. If I traded it in for a 2000-2002 Audi S4 for roughly $17,000, how much would my payments increase? I'm paying $275 a month now, and I wouldn't want to go much more than $325'ish a month for the S4. I know absolutely nothing about this stuff and I'm terrible at math, so any info is appreciated.

To effectively answer this question, I need some more information. First of all, something with the numbers you gave me isn't quite correct because 13,900 financed for five years at 8.5% yields a monthly pmt of 285. Likewise a monthly payment of 275 on said financed amount yields an interest rate of 6.98%...not 8.5%.

Without knowing the payoff & trade-in value of your car, the best I can do is get you close so you have a very rough idea what you'll be looking at when you get me some more numbers. I know what it's like to have a piece of shit car that is your only vehicle. Sometimes one aspect of the deal doesn't make financial sense but when you factor in all angles (i.e. fuel economy, reliability, cost of maintenance) the picture becomes clearer & more readily justified. I had a pos 98 z71 that was killing me in maintenance & killing me in fuel (16mpg at best, 13 combo city/highway). At the time I was working my ass off but not making any money so it would seem at first glance that me trading up to a 99 turbo diesel vw jetta (45mpg) made no sense at all since it was 2x the price of my truck....until you realize that what I saved in fuel costs made up the difference in payments & actually left some in my pocket.

Let me know what I can do to help....I'm kind of good at running numbers.

 

[Cobrasvt43]

yea, i would suggest researching a reliable vehicle or you are going to end up in a worse situation than you already are.

 

[hydroshutter]

If you're worried about snow, I'd check out a modded WRX or something. I really like those cars.

 

[Double D Stunna]

A financial calculator might be a worthwile investment, or use a friends. The monthly payment can be very misleading.

 

[TrueBlueGT]

John mentioned he's not very good at math....that's why I posted up what I did along with my offer to help. Me & my TI BA-II plus can be a dangerous combo.

 

[2001BlackSVT]

how many miles are on your 2000 GT? We took in a 1999 GT with 140k miles for 3 grand at my audi store... Also, are you looking to buy a B5 S4 from an Audi dealer or a used car dealer? That would make a difference in selling price also. And so you know, there's a guy with a 2000 S4 that's in regularly for maintenance, and over the last 3 years, he's accrued just under $20,000 in maintenance charges.... granted he does drive the car like a complete asshole

 

[blinelaxd27]

You can't be serious..

I am absolutely serious....

If you want a reliable car with awd look into a wrx or a legacy... much more dependable cars.

 

[99cobrablack]

I suggest consulting with cobraracer46 before going any further.

 

[xilix]

I'm currently trying to dig up the numbers, but right now I have to go dick around with my shifter. Yet ANOTHER day of work I'm missing because of this car!!

 

[Cobrasvt43]

your shifter is making you miss a day of work? sounds like you aren't very handy

 

[xilix]

I can't drive my car if I can't shift it. If I can't drive my car I can't get to work. It might be more than just the shifter, I'm not sure yet. I've been having problems with my tranny lately.