So I am debating selling my Evo FE but still torn on doing so. Wanted to know how some of you felt and if yall pull the trigger or decided to keep it. This will my hopefully help me make up my mind.

 

What are your issues with it that make you want to sell it? Nobody knows what your decision is based on. If you give more info we can give a better opinion.

 

agree can't afford the payments, did you overpay...what's the scoop.

 

Sorry about that. Looking to put money into remodeling my house and eventhough I can afford both don't want to have so much debt. So that is why I am debating to maybe sell it or keep it.

 

Since you recently bought it, and you can go buy a brand new FE for 32k (daytonamitsubishi.com) you may as well just table 'sell the EVO' and think of other ways to save a bit of cash to accomplish your objectives.

Another thing I do is I table 'car debt' as part of my debt picture unless it is an unreasonable amount. You, at the end of the day, got a fairly reasonably priced performance car. You won't get the same down the road for cheaper so just keep it, pay it down and off, and move on with life. One way or the other you have to pay for transportation and you only live once.

I'd rather drive something fun and carry a bit of debt than drive a POS and hate driving which I do every day just to save a few bucks. Eventually you'll have to buy another POS. May as well have one nice car and keep it for a long time.

 

Agreed, and your finance percentage can't be that much. I got mine for 1.8% 60 month. Compared to any other debt, you're sitting better keeping that debt and repurposing that money towards making money. Maybe your payments are more than you like?

Why did you buy the car in the first place?

Not sure I agree with the whole sell and buy in Florida pov. By the time you go to buy another there may not be any left. There aren't many left on the west coast, and the ones that are, are very expensive.

 

Wasn't suggesting to sell and buy in Florida. I'm saying that because there are BRAND NEW ones out there that can be had for 32k, I'm guessing his car, as it sits, used, is at most worth around 29k? There would be a microscopic market for it. Anyone considering it would just go buy a new one.

 

I gotcha, my reading comprehension sucks. That's a fair point.

It's going to be hard to find another car like this in the future imo. Just depends the direction you want to go and how much you want to spend. Or just get out of performance cars in general.

Driving these cars on track or twisties is a lot more fun that a remodeled house

 

That is what my thinking is but it would be nice to have that extra $500 plus I am paying a month to go to pay down other debt. My idea was to sell it get out of most of debt and then purchase one down the road or maybe even try to get a used gtr if its an option. But I bought because I always wanted an Evo and I love how easily they can make good power. I seen some sell for over $30k and even ones that weren't FE so if I am not going to get that amount of money then I would Probably keep it.

 

I'm with this guy.

Just remember why you have it in the first place and just keep it a little while longer. I've' done the whole buy and sell cars over and over, a couple times to reduce how much I spend on cars. I've gone from $220-700 payments and everything in between for a single car. At the end of the day if you like sporty cars, eventually a year or two later, you're gonna want something that makes you feel good.

If you can do home repairs and still keep the car, just go forward with that trust me. You're gonna waste money buying and selling cars repeatedly over a few years. Keep the evo until you really think you should sell. You know maybe it has high miles, tired of the manual transmission, maybe its dinged up etc, or have serious bills to pay instead etc.

 

Don't buy and sell cars. Evo fans thought the FE was going to be a collectible . . . . and it is, kinda, but it wont hold it's value - there aren't enough Evo fans buying Evo's



(I think I said Evo enough)

 

How much will you lose if you sell now?

 

A house always beats a car if money is a factor. Buying a car that you are going to mod is really a poor choice if you have debt that is weighing on you moving forward in your life.

 

Either its worth the cost (payment/insurance/maintenance) to you, or its not. You can get a clean evo 8 for ~15K and I bet it would give you just as many smiles per mile.

 

This, everyone is talking about happiness but responsibility supersedes happiness every day of the week. If you're living so strapped that your car poor then yes, take the inequity, sell the car. Buy a 1000 dollar beater that gets you from A to B and 500 in tools to keep it that way. Get yourself in a better financial position, don't do the remodel, beans and rice it, then look it up.

If you aren't car poor and you just want a little bit more breathing room in your wallet, don't take the inequity unless you hate the car. If you hate it, if it cauaes you stress or displeasure and you can take the hit financially, then dump it, but careful I've done the car trade every 6months and ended up with a massive inequity debt. At some point you need to settle.

Either way it comes down to this, can you afford your car, do you like your car, do you like burning thousands of dollars.