if your really going to sell your car to save for the X. i suggest you just buy a beater and not have any monthly payments and save more than you would be if you had smaller monthly payments than your 03

 

If you want something thats going to at least hold its value, DON'T BUY A SAAB! Get a Subaru Legacy. Then when you go to trade it in for your Evo X, you wont take a bath on it.

 

You could always do a refi on the evo, and take another loan out for X years, it would be like starting over with a 19k car, but your going to be paying the interest twice.

Good luck man!

 

Don't sell it....just go through a different bank to finance the evo. tell the secondary bank that you paid off 7k or so and they will work with you to lower your payment. hope you got great credit. good luck .

 

keep in mind, interest rates are higher now than they were a few years ago, AND you will need cash out of pocket to refinance and pay all the lame fees again, NOT to mention, interest rates on used cars are almost ALWAYS higher than they are on new cars. Modified cars are only worth something to fellow enthusiasts as well...dealers often don't want to take that type of trade in and will likely offer you less money because of the potenial mechanical issues as well as the age/wear and tear (Trade Burn 1) Then as soon as you roll off the lot in the Saab its value will decrease by probably 20-30% which means you will owe well more than it's worth by the time you go to trade it on the X (Trade Burn 2).

If you are really looking for advice, follow the people that say: sell the Evo and buy a beater

 

It's really simple math. You have a car that you owe $19,000 on. You want to trade it in on another car that costs $19,000. There is no way you could possibly save any money on that transaction unless the dealer will give you more than $19,000 trade-in credit on your Evo (which they will not). Even if the dealer gave you $19,000 even on the trade-in, you still loose money on the transaction after taxes and fees.

 

Dealers suck! Good luck on your decision. That Saab is pretty nice looking.

 

refinance that beast, makes no sense to purchase another car for 19gs to get lower rates, when you can refinance your 19g car to get lower payments. otherwise, sell it by owner, pick up a beater car and roll until the X comes out. i drove a slow pos 95 civic HB, no ac, no power windows, no power steering, 2 1/2 cylinders that burned oil, couldnt even drive on the highway, smoked like it was running off of steam engine technology for 4 years saving and debating on swapping motors or purchase another car. civic was paid off at purchase for 1000, i had invested a qt of oil every 2-3 weeks, still got 30mpg, insurance was $70 a month. that helped out alot, with my bad spending habits i was able to save up 11grand for downpayment on my baby. really makes your appreciate what you saved for, and wow what a different automobile coming from a dd beater. good luck though

btw, civic was still running after those brutal 4 years, after driving with no oil for countless miles, it BARELY ran, but now sold to friend who swapped LS turbo and is walking me on the highway. man i wish i kept that car still.

 

I agree with all those who say this doesn't make sense... you're paying tax three times for the three cars, you're also taking a large depreciation hit since they're all new cars.

In reality you're best keeping the evo you have now... you've just gotten to the point where you are no longer upside down in the car so you should be able to sell for break even at any point. If you get the saab or any other car then you'll just be upside down instantly.

It appears your only real goal is to lower your payment. If you're having trouble making ends meet then it might make sense to sell the car that you can't afford. BUT it would never make sense to turn around and buy another new car.

 

You'll sell your evo eventually so that hit is unavoidable.

Buying another car means you will have to pay around 10-11% (? at least in california) for fee and taxes. -- you should definitely avoid.

Refinance wont' help unless you get a better rate. Your payment is lower but the amount you owe stays big longer. You'll be paying more for interest overall. You're basically saving cash (I assume) that doesn't grow while paying interest $ for the extra amount that you owe.

I guess your best route would be buying a real beater assume 2K, by the time you sell, it's 1K. So you'll lose 1K in driving it for a year I assume. The rest you can save.
If not then pay toward your payment as much as you can, more goes into principlal and less to the interest. By the time you sell it, you'll have less $ owe which gives more +$ to downpayment for the X.

 

sell evo, buy a beater...its not really worth to refinance if you plan on getting the x later

 

Yea thanks for all the feedback guys. got me really thinking now. I might refinance it because even if refinancing does lower my payments, I know itll take me longer to finish paying for it but I could always pay more whenever I am able to.

 

i would never trade it for a sabb

 

2007 are you kidding me?