i dont own a wrx yet but need help choosing 1.

[Texas_henry]

im 21, have a fair credit score and a car thats screwing me with intrest. does any one know how i can trade in my car and get a wrx? please help!!

[v6mx6ls36]

Is the current car u have paid off ? If not what's the debt to equity value on it . If u owe way more then its worth your gonna end up doing more harm . If your trying to buy a new wrx you may not be able to finance it with the added negative equity . if your trying to purchase an older wrx like an 04-05 for instance , you may be better off selling the car u have and using that money to pay for it out right , granted the car u have is paid for . Also insurance is going to be a bit more expensive at your age . This assuming u have a perfect driving record . Also consider gas , you don't HAVE to put premium but you SHOULD. What about maintenance ? have u considered the cost of maintenance you may have to put into the car if you purchase an older wrx . once again u dont HAVE to put synthetic oil but you SHOULD . Being an older may mean it needs brakes or maybe even a clutch. Consider all these factors and think if you can afford it . Not to steer you away from buying your WRX , its an awesome car regardless of year you get , but there are a lot of factors when you are considering trading in your car for it .


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[v6mx6ls36]

I noticed u said interest is killing u so I read your post wrong . It's obviously financed my bad . But take it for what it is


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[mastercaster]

what is "fair" credit? what do you owe on your current vehicle, and what it the realistic trade value on it? what year of wrx are you looking for? have you crunched the numbers on maintenance, insurance, premium fuel, etc.? give as many specifics to your situation as you can. your first post is pretty vague.

[Texas_henry]

I owe 15000 trade value is 9000, 2011 Nissan versa, my credit score is as of right now 560-580 I want an older wrx with all wheel drive and as for maintenance I really don't know what to look for in what the cost,I make 360-380 a week and have a rent bill and student loan and insurance for me is 80$ so I have about 800 to use for the car -Texas_Henry

[SD_GR]

I'd not do this. I can't make the numbers make $en$e.

[michaelwfox]

Being that upside down and not having a credit score above 600 you aren't going to be able to do much sadly. Older cars are a little harder to finance than new ones anyway.

My advice is pay that car down to a point where you aren't over $1000 upside down and then trade it in on a new car. Also look at ways of building your credit in the meantime.

[Gendax]

Being that upside down and not having a credit score above 600 you aren't going to be able to do much sadly. Older cars are a little harder to finance than new ones anyway.

My advice is pay that car down to a point where you aren't over $1000 upside down and then trade it in on a new car. Also look at ways of building your credit in the meantime.

This is good advice. I can't stress enough the importance of patience when it comes to building a credit score and getting out of a bad deal. Don't let the last deal haunt you into the next 2 or 3.

Basically don't turn a loss into a losing streak.

[Mf645]

Your basically going to need $6,000 in cash to walk away from your Versa. And with a sub 600 score, your going to pay a lot in interest on your next car. Best thing to do is pay everything on time over the next year and bring your credit card balances down while doing so.

[Monk_Knight]

Not to mention that there's no way you're going to keep paying only $80 a month for insurance on a WRX as a 21 year old.

[UEDan]

Yeah, don't do it. I also bought my WRX at 21 too(last year). I had a WAY better credit score than you but still the dumbest financial decision I ever made. Love the thing, and I mean unhealthily. But still a dumb decision.

[shadidd]

Yeah I was upside down 6,000 on 2010 Altima traded for 2012 WRX base and payments went up 100 a month which worked for me cause the car is so much more fun to drive. But I also have a wife on the loan and both if us have 700+ credit. In your situation you need to raise your credit score and then try again. Besides redesign for the 2014 year.


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[Texas_henry]

Well I only pay 80 because I have a whole list of family members on my insurance and there cars and that's paying the full coverage

[mastercaster]

no offense at all, but you really need to get your finances in order before you buy anything at all. a 560 credit score is honestly crappy in the finance world. if you don't have enough cash to put down on a vehicle up front to have positive equity when you drive it off the lot, you shouldn't buy it. so i assume you can't write a 6k check to get out of the versa, correct? you are wanting to roll the negative equity into the new loan? NO WAY!! dumbest thing you can do! with your credit, negative equity, and looking at a used car, a bank will not likely even touch this transaction. and if you find one that will, the interest rate will be sky high and you'll be a worse predicament than you are now. your young, take your time building your life (credit, family, etc.). not trying to come down on you at all, just help you. think long and hard before you make a decision.

[Texas_henry]

thnks everyone, great info but i think ill wait and get my finances correct first, i diddnt know there was so much involved, untill then ill keep daydreaming about my future subaru,