Hey all,

Before you read the following, please keep in mind I'm looking for opinions and help as this is not an easy decision to make for me. Thanks.

My 2006 Cobalt 2.4SS is costing me lots of money that I want to save for the future. Im 21 and make between $27000-$30000(Canadian)/year. The lease for my car is $350/month on a 48month term, 80000kms, from a dealer in North York. I have had the car for a little over a year (Nov 11th 2005) and Ive put 31000kms on it . My car insurance is $4400/year so with the cost of gas/maintenance, Im paying about $800/month.

My mods are listed in my sig and I still have all the stock parts.

My questions are:
1. Should I put the car up on LeaseBusters or someting of the sort?
2. Will my high mileage be a problem if trying to give the lease away?
3. Is it likely that someone would be interested in the mods as an incentive?
4. Would YOU take this car off my hands? Please state why or why not?
5. Should I buy a $500 beater car and let the Cobalts mileage balance out, then try to get rid of it?

Help me out here guys, please. I need to know what my fellow cobalters think. Thanks in advance for your time and input.

 

Help me out here guys, Im losing sleep over this. You dont have to take over my lease, just give me some feedback please

 

How far away from work are you? If you're close, think about biking or getting a cheap scooter. That could help. Then reduce or cancel the insurance on your Cobalt.

 

Work is 8kms away and I live in Canada...even if I could take the cold, I wouldnt move much in the deep snow

 

Get a beater and let the mileage balance out some

 

Or I could be your turbo kit test car and buy the car out after the lease and not care about the mileage!

 

now thats a great idea!!

 

call up belairdirect.com.. and get a quote.. i got a 07 ss/sc and im paying 264 a month.. i have 2 accidents (not at fault), and two 4 point tickets.

 

Why wouod you lease when the finance rate was sooo good??? Besides the point. Since your thinking about getting rid of the car, that means you really dont care about it now as when you bought the thing. I say sell off the parts right now, make some cash. Buying another car wont get you anywhere, your insurance will still be high otherwise. Any tickets??

I can't believe your paying that much. I have a supercharged cavy and another Z24 at home, full time insured all year and I only pay $174/month. Only time I ever paid over $3000 a year was my accident year when my car was written off in 2000. Plus my insurance knows my charged cavy is highly modified - they're nice to cover all my expensive mods.

 

Don't make me come over there and bitch slap you, ya ****!!!

 

Yeah Ive thought about it, and I think Im cool with keeping it as long as I can keep the mileage down.

 

How old are you?

 

wow, i just did 2 quotes for me on bellairdirect.com and the first one i made effective before my birthday and it was $408.42 / month, the second quote i did after my birthday (i'll be 21) and it was $274.25 / month, what a diffence one month makes lol

 

Im 21. My bday is June 2nd 1985

 

Sell me your parts!

 

advertise in the trader as a take over in lease, give some incentive for the buyer and pay the 481.00 transfer fee.. thats how i bought my truck. or get a better job haha

 

I came across the same situation. I tried to give it back to the dealer and they said no. So my advice to you is try joining the army.

 

My questions are:
1. Should I put the car up on LeaseBusters or someting of the sort?
A: Transportation costs, not incl. fuel costs are 32% of your gross income - ouch!! I recommend looking for a lower lease and lower insurance cost vehicle until your income increases to support the cost of driving a more expensice car.
2. Will my high mileage be a problem if trying to give the lease away?
A:Yes, but you will be saving $12,600 for the next 3 years.
3. Is it likely that someone would be interested in the mods as an incentive?
A:Perhaps.
4. Would YOU take this car off my hands? Please state why or why not?
A:Probably over a stock SS - the lease cost is reasonable - not the insurance.
5. Should I buy a $500 beater car and let the Cobalts mileage balance out, then try to get rid of it?
A: Or even something better, but the car is holding back your future plans.
Thanks,
Angelo, CFP
Financial Adviser

 

beater or bus

 

Decisions, Decisions, I have seen too many younger guys try to afford these cars, mod them, spend more money on them, have high insurance rates and lose the car. Try calling up Motors Insurance, they are an affiliate of GM and by far they have had the best rates for me. I am paying 130 a month for my Cobalt and 130 a Month For my Monte Carlo SS. I am 31 with a 6 star rating however.

 

thats pretty good, but i think your age has lots to do with it, i am paying 280 a month and thats the absolute cheapest ive ever found insurance at the age of 22. i have a totally clean record too.

 

sounds like you got took....for my 2.4 2006 SS i only pay $220/month (no trade in) and $100/month for insurance....