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      01-14-2014, 09:25 AM   #1
hatepotholez
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consolidate to 1 car note

Hi everyone, I wanted to get your guys advise on my car's "financial's". We purchased my wife's '08 128i in January of last year after someone T boned her Integra. I felt it was not worth fixing and it was not safe for her to commute 50 miles each day in that car. There was also multiple issues due to neglect but whatever. So now I have the '13 135i and she has the 128i. Her car literally just sits as she now works in the city and I drop her off to the train station near my job. I want to sell her car and maybe get a cheap awd(fwd) car for emergencies or if she needs to go out and my car isn't available.

Now her car is worth a few thousand below the loan, I haven't posted it for sale. But I have did some quick online evaluations on the tools.

so here are my options:

-Sell it for whatever I can and pay whatever I owe to the bank(could be a few thousand).
-trade it in for a much lower awd(or fwd) priced car and add the negative value to the loan and pay it off in a year.
-transfer my 135i lease to someone else(I would really really hate to do this as I spec'd the car to my likings) and might possibly buy it out.


Any advise would be GREATLY appreciated!

Thanks!
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      01-14-2014, 10:23 AM   #2
Chill72
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Get rid of both 1-ers. They are ugly as sin.

Proceed to buy one 2-series when it comes out.
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      01-14-2014, 10:56 AM   #3
hatepotholez
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Get rid of both 1-ers. They are ugly as sin.

Proceed to buy one 2-series when it comes out.

Don't think so.
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      01-14-2014, 11:03 AM   #4
IEDEI
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Quote:
Originally Posted by hatepotholez View Post
Hi everyone, I wanted to get your guys advise on my car's "financial's". We purchased my wife's '08 128i in January of last year after someone T boned her Integra. I felt it was not worth fixing and it was not safe for her to commute 50 miles each day in that car. There was also multiple issues due to neglect but whatever. So now I have the '13 135i and she has the 128i. Her car literally just sits as she now works in the city and I drop her off to the train station near my job. I want to sell her car and maybe get a cheap awd(fwd) car for emergencies or if she needs to go out and my car isn't available.

Now her car is worth a few thousand below the loan, I haven't posted it for sale. But I have did some quick online evaluations on the tools.

so here are my options:

-Sell it for whatever I can and pay whatever I owe to the bank(could be a few thousand).
-trade it in for a much lower awd(or fwd) priced car and add the negative value to the loan and pay it off in a year.
-transfer my 135i lease to someone else(I would really really hate to do this as I spec'd the car to my likings) and might possibly buy it out.


Any advise would be GREATLY appreciated!

Thanks!
definitely keep the 135i....it's one of THE most fun cars you could own.

if you're not using the 128i, then sell it. It's 5+ years old already and cars don't do well when they're not being used consistently. You should try to sell it private party OR sell it on here.

The 135i is definitely the one to keep though. Enjoy it!

Last edited by IEDEI; 01-14-2014 at 11:23 AM..
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      01-14-2014, 11:05 AM   #5
MisterSkiMask
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Well, you have two vehicles with negative equity. I understand not wanting to share your real numbers, but without a lot more information nobody can really help you.

Most of the time in these treads the OP know what the 'right thing' to do is, he just doesn't want to do it. I suspect you know what the financially prudent thing to do is, but you don't want to do it, which is fine. Not all decisions are dollars and cents.
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      01-14-2014, 12:07 PM   #6
hatepotholez
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Quote:
Originally Posted by MisterSkiMask View Post
Well, you have two vehicles with negative equity. I understand not wanting to share your real numbers, but without a lot more information nobody can really help you.

Most of the time in these treads the OP know what the 'right thing' to do is, he just doesn't want to do it. I suspect you know what the financially prudent thing to do is, but you don't want to do it, which is fine. Not all decisions are dollars and cents.
What kind of information, my loan amount? I prefer not to disclose that. The most cost effective thing to do is to transfer my 135i lease. Unless I put the 128i up for sale I won't know exactly what someone will pay for it. I don't mind taking a small hit on the 128i as long as that note is gone.
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      01-14-2014, 06:25 PM   #7
Meeni
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Even with negative equity, you are better off long term selling the unecessary vehicule and buying a cheap truck or something that takes double duty as a "emergency" vehicle.
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      01-14-2014, 07:48 PM   #8
Smooth 330i
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Quote:
Originally Posted by hatepotholez
Hi everyone, I wanted to get your guys advise on my car's "financial's". We purchased my wife's '08 128i in January of last year after someone T boned her Integra. I felt it was not worth fixing and it was not safe for her to commute 50 miles each day in that car. There was also multiple issues due to neglect but whatever. So now I have the '13 135i and she has the 128i. Her car literally just sits as she now works in the city and I drop her off to the train station near my job. I want to sell her car and maybe get a cheap awd(fwd) car for emergencies or if she needs to go out and my car isn't available.

Now her car is worth a few thousand below the loan, I haven't posted it for sale. But I have did some quick online evaluations on the tools.

so here are my options:

-Sell it for whatever I can and pay whatever I owe to the bank(could be a few thousand).
-trade it in for a much lower awd(or fwd) priced car and add the negative value to the loan and pay it off in a year.
-transfer my 135i lease to someone else(I would really really hate to do this as I spec'd the car to my likings) and might possibly buy it out.


Any advise would be GREATLY appreciated!

Thanks!
plain and simple ... sell privately the one you don't want
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      01-15-2014, 08:44 AM   #9
hatepotholez
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Quote:
Originally Posted by Meeni View Post
Even with negative equity, you are better off long term selling the unecessary vehicule and buying a cheap truck or something that takes double duty as a "emergency" vehicle.
Exactly, probably save for a few months and get something like that.


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Originally Posted by Smooth 330i View Post
plain and simple ... sell privately the one you don't want
Yup just posted the car up on here and bimmerfest.
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