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So i have a moderatly modded 02 civic ex that ive got 13000 left to pay on, i have someone that is willing to take over payments

i know of a Heavily modded 00 civic SI w/turbo that a guy/friend is willing to sell for $14000, i am seriously thinkin of dishin off my 02 for this SI, the other thing i have been thinkin bout is waiting a little while longer and getting an 05 Acura TL

what do u guys think i should do???

 
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What kind of shape is the Si in? How many miles are on it?

 
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great shape dude hardly drove it its got 55000 miles on it my 02 has 45000 only problem is that it has a big aluminum wing and stickers on the side
but guy used it in shows and treated it really good

 
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go speed racer go

 
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Pay on yours another year or so and then sell it outright, then buy the Acura or a Subaru. JMO. You owe way too much right now to make any money, in fact you won't. If you pay it down for a year or more and treat it well you could make out a little better. When people buy and sell too quickly they just lose money.

Letting someone take over the payments is fine, but you just never get ahead. I plan to drive my car into the grave! People with the opposite mind set of mine lease cars because they want to always drive a newer car. I think you should buy a car outright, treat it good and drive it into the ground. That's the ONLY way you can get anything to show for the money you spent. Remember, cars are a horrible investment.

 
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Taking over payments is a bad idea, he'd have to buy it from you for it to be a good deal. Let's say the guy starts missing payments, guess what? It's on your credit report and is counted against you. Same goes for buying another car, the first thing they will ask is where's the other car unless you have superprime credit (750 FICO). Bad Credit will end up costing you more in the end like double digit interest rates.

 
Rep Power: 305

why don't you just transfter title to the other guy that's going to take over your payments on your car? that way you won't have to worry about if they default on their payments...

i'd rather save up for the acura...my friend did the same and got a tsx

 
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You can transer a title for a car that's not paid off, he said he owes $13000. The bank would never just switch a name over like that, do a substitution of collateral, or collateral holder, way too much risk.