Wanting a Corvette. Small problem thou.
Thread Starter
Pro
Joined: Sep 2013
Posts: 536
Likes: 62
From: New York
Wanting a Corvette. Small problem thou.
Im new to car buying and finance. So I need some help.
I currently own a 2009 Scion tc. I owe 14k on it. Ive been quoted with 8-10k trade in value.
Now I really want a Corvette for next summer. Theres plenty of 20-25k used Corvettes on cars.com that Id love.
Right now I got 4k banked and hope by the summer time Ill have 6-8k banked. Can I realisticly buy a Vette next summer and not lose a ton of money?
I currently own a 2009 Scion tc. I owe 14k on it. Ive been quoted with 8-10k trade in value.
Now I really want a Corvette for next summer. Theres plenty of 20-25k used Corvettes on cars.com that Id love.
Right now I got 4k banked and hope by the summer time Ill have 6-8k banked. Can I realisticly buy a Vette next summer and not lose a ton of money?
Thread Starter
Pro
Joined: Sep 2013
Posts: 536
Likes: 62
From: New York
Melting Slicks
Joined: Aug 2013
Posts: 2,491
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St. Jude Donor '15-'16-'17-'18-'19-'20-'21-'22
Im new to car buying and finance. So I need some help.
I currently own a 2009 Scion tc. I owe 14k on it. Ive been quoted with 8-10k trade in value.
Now I really want a Corvette for next summer. Theres plenty of 20-25k used Corvettes on cars.com that Id love.
Right now I got 4k banked and hope by the summer time Ill have 6-8k banked. Can I realisticly buy a Vette next summer and not lose a ton of money?
I currently own a 2009 Scion tc. I owe 14k on it. Ive been quoted with 8-10k trade in value.
Now I really want a Corvette for next summer. Theres plenty of 20-25k used Corvettes on cars.com that Id love.
Right now I got 4k banked and hope by the summer time Ill have 6-8k banked. Can I realisticly buy a Vette next summer and not lose a ton of money?
Let's think positive. You may have to wait a few more months to buy your Corvette. First you have to find out how you are going to be standing once you sell the Scion. Ideally you could find a dealer who has a Corvette who could take your Scion and give you a loan on the remaining balance.
Otherwise you are going to find out what kind of loan you can get. Try credit unions first. Depends also on how good is your credit. Find out your credit score.
See you next summer in a Corvette.
Intermediate
Joined: Jun 2013
Posts: 31
Likes: 0
Sounds like you have Corvette fever,,, we understand. You are going in upside down and that's OK if you want to carry that shortfall over to the balance due on the Corvette when you buy it. I agree that you should gather your credit intel and make an informed choice when buying. If not in a credit union join one Immediately, their rates are awesome. I picked up a 1.75% rate recently on my GS. A good FICO score helps so behave with your money and next year you to could be having a Corvette Summer! Best of luck to you!
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Thread Starter
Pro
Joined: Sep 2013
Posts: 536
Likes: 62
From: New York
Thx for responses guys. Looks like Im gonna have to do something like.
If they give me 10k for my car.. Id use the 10k on my current loan. have them put the remaining 4k I own on top of the new loan so i can pay off my old car completely. The put down 5-6k of my banked money for a down payment. Id lose 4k.. but a small price to pay for getting the Vette now rathan 4 years from now.
If they give me 10k for my car.. Id use the 10k on my current loan. have them put the remaining 4k I own on top of the new loan so i can pay off my old car completely. The put down 5-6k of my banked money for a down payment. Id lose 4k.. but a small price to pay for getting the Vette now rathan 4 years from now.
2026 Loser of the Year
Joined: Sep 2013
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From: New Or-leens Loo-z-anna
Pick out the car that you want.....
Let them do the credit check and get all the paperwork started...
Then when they hand you the ink pen------Tell the salesman that you won't sign the papers unless they pay your scion off...............
that worked for me.....it's worth a try!
Annnnnnnnnnnnd......I've had Corvette fever since 1968.....
but the convertible on the showroom floor cost $3,550.......
so I bought the Camaro convertible next to it for $2,500 (sold it to my brother 20 years later/baddddddd mistake)!
Let them do the credit check and get all the paperwork started...
Then when they hand you the ink pen------Tell the salesman that you won't sign the papers unless they pay your scion off...............
that worked for me.....it's worth a try!
Annnnnnnnnnnnd......I've had Corvette fever since 1968.....
but the convertible on the showroom floor cost $3,550.......
so I bought the Camaro convertible next to it for $2,500 (sold it to my brother 20 years later/baddddddd mistake)!
