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Tough Financial Decision, Your input?

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Old Sep 2, 2008 | 06:51 PM
  #1  
R&C_rallySS's Avatar
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Tough Financial Decision, Your input?

In recent times I'm forced to sell my cobalt SS/SC. I have been trying to sell it on here for a few months and I don't understand why no one has picked it up. Plenty of reasons come to mind, like the economy. So, I lost my job of 6 years and I was making 40+k a year. I'm 24 years old, married with two children and my income was the main income. I am going to get unemployment, but I personally feel I need to be working. Just not one of those guys who can sit around and get paid to do nothing.

So, a local dealer offered me 14,500 for my cobalt. The question is do I take it. I owe 15,800 and some change and would have to fork out 1,300 bucks. My payment right now is 330 a month and like 60 bucks for full coverage insurance. I'm sick of members here and people looking at my car, telling me they can afford it and bailing out. I don't have months to just sit around so should I sell it to the dealer. It really would be nice if someone would offer me 15,800 for it and take it off my hands but it just seems like people lie and never come through.

I already parted most of it out. Stage II, GMP manifold, GMP exhaust, ZZP downpipe with highflow cat, B&M short shifter, and Exedy clutch and flywheel with only 9k miles on the odom. Come on guys, someone help me out. So if you know someone who wants a well taken care of cobalt, send them my way. I just don't know what to do. I normally don't ask advice here but felt you guys would know what to do. Click the link below to see my FS thread. Thanks guys.


Last edited by R&C_rallySS; Sep 2, 2008 at 07:48 PM.
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Old Sep 2, 2008 | 06:53 PM
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Good luck bud. I will ask around for ya. I will do as much as I can to help ya out.

side note - Ask Tom how his car is doin, we got it tuned up this past weekend.
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Old Sep 2, 2008 | 06:55 PM
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i would say part it out completely, leave it for sale until the time comes where what the dealer offeres u and what you owe are equal and hop from now till then some1 buys it
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Old Sep 2, 2008 | 07:51 PM
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Originally Posted by BriantheLion26
Good luck bud. I will ask around for ya. I will do as much as I can to help ya out.

side note - Ask Tom how his car is doin, we got it tuned up this past weekend.
I was out with him the first day it got tuned. Glad to see his check engine light is off and it seems to run smoother. As for power, for me its hard to tell. Either way it seems like you did a great job.

Originally Posted by Altiery54
i would say part it out completely, leave it for sale until the time comes where what the dealer offeres u and what you owe are equal and hop from now till then some1 buys it

Well, I know I don't want to go though the hassel to uninstall the clutch and flywheel. Selling cobalt parts has seemed to suck latly to. I can't seem to get rid of these DR's I have for sale. No one will even make me an offer.

As for when the value = what I owe, is that even possible? Even if I'm not driving it as time goes on the value still goes down correct? Just the way it is with cars. Someone has to know someone who would pay 15.5k for my car. Everyone who has seen it is amazed at how the car shifts with the B&M and exedy setup. Not to mention it still smells new.

Last edited by R&C_rallySS; Sep 2, 2008 at 07:51 PM. Reason: Automerged Doublepost
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Old Sep 2, 2008 | 07:54 PM
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can you afford the 390 a month? If you can, it may be worth more to wait a few more months, try to make that extra 1300 bucks on the car, if you feel you can sell it for that price before you invest that extra 1300 in monthly payments, ie ~4 months.
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Old Sep 2, 2008 | 08:09 PM
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DR's? I didn't see that in your FS thread.
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Old Sep 2, 2008 | 09:36 PM
  #7  
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Originally Posted by R&C_rallySS
In recent times I'm forced to sell my cobalt SS/SC. I have been trying to sell it on here for a few months and I don't understand why no one has picked it up. Plenty of reasons come to mind, like the economy. So, I lost my job of 6 years and I was making 40+k a year. I'm 24 years old, married with two children and my income was the main income. I am going to get unemployment, but I personally feel I need to be working. Just not one of those guys who can sit around and get paid to do nothing.

So, a local dealer offered me 14,500 for my cobalt. The question is do I take it. I owe 15,800 and some change and would have to fork out 1,300 bucks. My payment right now is 330 a month and like 60 bucks for full coverage insurance. I'm sick of members here and people looking at my car, telling me they can afford it and bailing out. I don't have months to just sit around so should I sell it to the dealer. It really would be nice if someone would offer me 15,800 for it and take it off my hands but it just seems like people lie and never come through.

I already parted most of it out. Stage II, GMP manifold, GMP exhaust, ZZP downpipe with highflow cat, B&M short shifter, and Exedy clutch and flywheel with only 9k miles on the odom. Come on guys, someone help me out. So if you know someone who wants a well taken care of cobalt, send them my way. I just don't know what to do. I normally don't ask advice here but felt you guys would know what to do. Click the link below to see my FS thread. Thanks guys.

Yeah...sorry to hear it bud. Honestly, if it's going to be tough to make payments sell it back, pay off the difference and find a car you can buy or lease for lower payments. A different car (n/a assuming) would be lower insurance wise as well. Hate to suggest it...but maybe you could trade it in for a 2.2 or 2.4 and wipe out your payments completely.

Also...14500 is pretty good for these cars.
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Old Sep 3, 2008 | 12:29 AM
  #8  
R&C_rallySS's Avatar
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Originally Posted by theneelster
Yeah...sorry to hear it bud. Honestly, if it's going to be tough to make payments sell it back, pay off the difference and find a car you can buy or lease for lower payments. A different car (n/a assuming) would be lower insurance wise as well. Hate to suggest it...but maybe you could trade it in for a 2.2 or 2.4 and wipe out your payments completely.

Also...14500 is pretty good for these cars.
Thanks. I think I'm going to just unload it. I already have another car thats good on gas and paid off. So its not like I need to worry about not being able to drive to places I need to go.

Originally Posted by all4glh
DR's? I didn't see that in your FS thread.
Search in the classifieds. Search for keywords: for sale
Also select threads started by R&C_rallySS

They are BFG DR's mounted on 17" wheels. Balanced and mounted all ready to bolt on for track days. Pics in my gallery and they were only used once. Sticky little tires thats for sure. Let me know if your interested. Those need to go to.

Last edited by R&C_rallySS; Sep 3, 2008 at 12:29 AM. Reason: Automerged Doublepost
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Old Sep 3, 2008 | 12:55 AM
  #9  
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it really depends on your financial situation. if you have proper planning which includes 6-9 months salary saved up then you have more than enough time to find a new job with commparable pay. if your like most americans with no savings then the decision is easier. unemployment does not pay your full salary, with that in mind you need to write down your monthly exoenses and see how it compares to your unemployment. no matter what vehicles are poor investments so a loss should always be expected.
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Old Sep 3, 2008 | 01:01 AM
  #10  
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If you trade it in the negative equity will hurt your next car. Best thing is to do is try to sell it first
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Old Sep 3, 2008 | 09:26 AM
  #11  
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try kijiji.com thats how i found my cobalt ss/sc. Guy was selling it on there and i bought it from him.
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Old Sep 3, 2008 | 02:03 PM
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or craigslist
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