F/S 2009 STI 4400 miles
- Thread starter Kristof
- Start date
krazykarpenter
New member
Sorry that you have to part with it my friend.
Wish I had cash, but I am just a college kid
Nate
Founding Father
You cant expect to pay off a car when selling it after owing it for a year. Even with low miles, and good condition they can't just give you all kinds of money for it. Trade it in on a brand new car and you would most likely be rolling in a loss.
You have to realize that this type of vehicle isn't flying off the lots either. They have to weigh out what its worth, and what they can sell it for.
Just because some website says its worth $XX.XX, doesn't mean that's even what its worth. ITS ONLY WORTH WHAT SOMEONE WILL PAY FOR IT.
A little while back EG sold a couple used (demo) STI's out of the dealership. Both loaded, one with BBS wheels, both with crazy low miles (under 2,000) and I'm pretty sure they sold for less then you owe on yours.
You have to realize that this type of vehicle isn't flying off the lots either. They have to weigh out what its worth, and what they can sell it for.
Just because some website says its worth $XX.XX, doesn't mean that's even what its worth. ITS ONLY WORTH WHAT SOMEONE WILL PAY FOR IT.
A little while back EG sold a couple used (demo) STI's out of the dealership. Both loaded, one with BBS wheels, both with crazy low miles (under 2,000) and I'm pretty sure they sold for less then you owe on yours.
Nate
Founding Father
I am 100% sure that at the price they sold them for, if I was looking to buy a car 6 month after I bought my WRX, I would be driving one of those cars.
At the time I bought mine a used STI didn't exists.
Sorry to say Kristof, but I will be in the market for one here eventually, and I wouldn't pay that kind of money for your car.
At the time I bought mine a used STI didn't exists.
Sorry to say Kristof, but I will be in the market for one here eventually, and I wouldn't pay that kind of money for your car.
told them that but they have nothing on the lot i would be remotly interested in
it makes a difference that its a 09 not an 08. kbb has a 4k value difference from a 08 to a 09 with the same exact milage
well kbb is the bible for car values its what everyone bases the value of a car off of. ive looked on ebay and have seen no 09's but 08's with higher miles and same options for around 30k for buy it now option. just because peopel aren't willing to pay what kbb says dosent mean it isn't worth it it means peopel are being tight with money.
its liek when they tried to sell the shelby daytona coupe at auction a while ago ( no im not tryign to compare my car to that) and the highest bid was abotu half of what they expected. dosent mean that's what the car is worth it means no one was willign to spend the money for th actuall value of the car.
woudl rather hold onto it and eat mac and cheese every day then sell it for a loss
thins link shows why i think my car is 100 percent worth in the 29k range
http://www.cars.com/for-sale/searchresults.action?toggleCpo=0&mkId=20041&mdId=21295&minp=0&prMx=35000&rd=100000&zc=04282&AmbMkNm=Subaru&AmbMdNm=Impreza&AmbMkId=20041&AmbMdId=21295&prMn=&stkTyp=U&cpo=&searchSource=QUICK_FORM&alMkId=20041&alMdId=21295
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MikeD
N/A All The Way!!
Folks today are looking for a bargin...no matter what. Kelly Blue Book is a guide, not a factual thing you can rely 100% on. Nate is right, something is only worth what the highest bidder is willing to pay for it. In the economy we are facing today, smart buyers know that people need to unload goods that they can no longer pay for...and will take advantage (and I'm not accusing Evergreen of this, they aren't a private buyer). I'm sure that if the car was up on all craigslists throughout New England, you would find a buyer that might give you what you're asking...but it might take a while for him or her to show up. It seems more likely however, that you're going to end up a little sideways in this deal at the end...but having to pay the bank $2000 and be done with it seems a little better than paying $500 + insurance + registration for a car that you shouldn't own right now.
Maybe I'm wrong and I hope I am. Good luck with it.
Maybe I'm wrong and I hope I am. Good luck with it.
Nate
Founding Father
I beg to differ for this simple fact.
Lets say the said "Charger" is sold at auction for $10,000. Now they said they hoped to get $20,000. (this being the so-called "value") $10,000 is WHAT THE CAR IS WORTH plain and simple. Again its only worth what someone will pay for it. I can say I have an old silver dollar coin that's worth a million bajillion dollars. But if I can only sell it for $1.25.... that that's what its worth. Make sense?
KBB is a guide. Its a very good guide, but I wouldn't call it the bible. Last time I checked dealers were using NADA prices. (updated yearly)
Lets say the said "Charger" is sold at auction for $10,000. Now they said they hoped to get $20,000. (this being the so-called "value") $10,000 is WHAT THE CAR IS WORTH plain and simple. Again its only worth what someone will pay for it. I can say I have an old silver dollar coin that's worth a million bajillion dollars. But if I can only sell it for $1.25.... that that's what its worth. Make sense?
KBB is a guide. Its a very good guide, but I wouldn't call it the bible. Last time I checked dealers were using NADA prices. (updated yearly)
Nate
Founding Father
Also anyone who thinks a car is a good investment is crazy. Ive had enough cars in my life to know that once you buy one and drive it off the lot you are immediately upside down in it. With the way loans go (more interest payments at first then principal) you have to pay on the loan for longer then a year to be able to walk away from the loan. I wish you luck, I still think its an awesome car, and I will be buying on eventually. But I think you are going to be hard pressed to pull out scott free.
I think you might be better saving the cash your going to pay for registration, and sock some cash on the principal of the loan. And dump that thing for a bit of a loss (new value) and move on with your life. Honestly a $2000 isn't a huge hit. Some people get 2-3 cars deep in loans on used car trade. They just keep rolling a bigger and bigger loss onto the next car. Till they owe WAY more then the cars worth at time of purchase.
I think you might be better saving the cash your going to pay for registration, and sock some cash on the principal of the loan. And dump that thing for a bit of a loss (new value) and move on with your life. Honestly a $2000 isn't a huge hit. Some people get 2-3 cars deep in loans on used car trade. They just keep rolling a bigger and bigger loss onto the next car. Till they owe WAY more then the cars worth at time of purchase.
Nigel Prodrive
Dirt surfer
^ best post yet in the thread, a very clear-eyed assessment of a tough situation. socking the regist/excise $$ onto principal and then unloading it...minimizes the 'taking a bath' factor.
one of the problems here is that 09s are still so new there's limited actual value info floating around out there. laws of depreciation are like laws of the jungle. any owner of an 09 unfortunate enough to have to sell within the first year or even 2 years is headed for disappointment...all you can effectively do is limit the bleeding somewhat. think of it this way--even if you have to finance the shortfall to pay it off, payments on 2-3k are a whole lot less than on a 30k car and you still have cut monthly spending substantially.
one of the problems here is that 09s are still so new there's limited actual value info floating around out there. laws of depreciation are like laws of the jungle. any owner of an 09 unfortunate enough to have to sell within the first year or even 2 years is headed for disappointment...all you can effectively do is limit the bleeding somewhat. think of it this way--even if you have to finance the shortfall to pay it off, payments on 2-3k are a whole lot less than on a 30k car and you still have cut monthly spending substantially.
wzrd
New member
Id go for a small short sale rather then trying to get top dollar on the private[soft] market...Personaly if im gonna pay/finance that kind of money i would want some type of warrente that you cant offer,never mind the scary fact buying a used turbocharged car from a guy you dont know....eat the few grand,learn the lesson.IVE paid lots more for educational experiences...and lived to tell the tale...wzrd/out
Nigel Prodrive
Dirt surfer
wzrd, the factory warranty does xfer to subsequent owners, so anybody who boughtened this car would have coverage
kristof's STI is exactly the kind of used turbo car you want to find...adult owned, not beated on, NO dirt road miles (well maybe a couple but you get the idea) and clean clean clean
kristof's STI is exactly the kind of used turbo car you want to find...adult owned, not beated on, NO dirt road miles (well maybe a couple but you get the idea) and clean clean clean