what do you think

[bear]

so I've been thinking lately about selling the charger and my truck and going out and buying a used 07 charger.  currently i drive a pickup that only gets 10 mpg and i know it is only going to get worse as soon as winter comes around that and i still have a lot of things that need to be fixed on it but i have no money because if i am not buying gas i am paying off my parents the money i owe them for other things i bought but most of it paying off the truck. yes i do have a job but i only make minimum and after Christmas comes i will be around for about another week and then they will not have me come in till the end of February when we start planting things to sell in the summer.  and right now i will probably never get around to working on the charger. so do you think i should sell the charger and my truck and go out and get a new charger and later on go out and get another project charger. the only thing that keeps me from going and selling the charger is that by the time i am able to buy one i will be paying more then i did for mine now and it will probably be in worse shape. 

[moparstuart]

so I've been thinking lately about selling the charger and my truck and going out and buying a used 07 charger.  currently i drive a pickup that only gets 10 mpg and i know it is only going to get worse as soon as winter comes around that and i still have a lot of things that need to be fixed on it but i have no money because if i am not buying gas i am paying off my parents the money i owe them for other things i bought but most of it paying off the truck. yes i do have a job but i only make minimum and after Christmas comes i will be around for about another week and then they will not have me come in till the end of February when we start planting things to sell in the summer.  and right now i will probably never get around to working on the charger. so do you think i should sell the charger and my truck and go out and get a new charger and later on go out and get another project charger. the only thing that keeps me from going and selling the charger is that by the time i am able to buy one i will be paying more then i did for mine now and it will probably be in worse shape. 

hold out for the challenger

[bull]

I think selling a classic Charger to buy a new "Charger" is a very bad idea.

[69bronzeT5]

I think selling a classic Charger to buy a new "Charger" is a very bad idea.

 
   

[bull]

Also, it sounds as if you're not really in a position to spend $18k-$23k on a car if you have a bunch of bills to pay off. If I were you I'd keep the real Charger, sell the pickup and pay cash for a nice used FWD car like a Camry or Accord until you're back in the black.

[Troy]

How are you planning to purchase a new Charger if you make minimum and you're going to be out of work for a month? Unless your Charger is worth $$$ of course! I forget what you paid for it but I doubt it's enough to buy a new car out right. I'd say pick up a Christmas/seasonal job and get your bills paid off. Sell the truck and buy and older, equally priced gas miser to get around in. A new car is a guaranteed losing investment. Your insurance will likely triple (or at least double) and the gas mileage isn't all that great any way. Buy a Nitro or one of those other goofy little things if you're getting something new. The price is about half of what a Charger would be. As long as you have a place to keep your Charger and can work on it once in a while then I'd hang on to it. If that's not possible then I'd sell it so it doesn't rust into the ground.

Troy

[VPFD13]

Also, it sounds as if you're not really in a position to spend $18k-$23k on a car if you have a bunch of bills to pay off. If I were you I'd keep the real Charger, sell the pickup and pay cash for a nice used FWD car like a Camry or Accord until you're back in the black.

:I agree:  If you sell the charger the odds of getting another one are slim and you probably know that. I say dump the truck and get a cheep 4 banger and save the cash and the charger.

[68chrgrwife]

I agree...selling two cars to get one,which will get you another bill to pay is just plain stupid.  (I'm not calling you stupid).  Sell the truck and look for a cheap small used car.  We did that.  We sold off our SUV and got a 2000 Honda Civic.....gets good gas mileage and it only cost us $5,000.  we decided that we wanted to continue to help our credit (thanks to our financial adviser) so we got a loan for the $5,000 and we cut our car payment from $600 a month to $160 a month.  Our financial adviser told us this was the best way to go....one income, and three kids, and other bills to pay!

[bear]

ok a few things that i didn't make clear is by a new charger a meant an 07 that is used which is about $15,900. selling the truck at most i could get $2,000 which is what i paid for it. i do not want to go out and get another car for that much and do just as much work to it as i am doing to the truck now, yes i would be getting better mileage but it would probably would have to use the money i saved in gas for parts. the charger will probably never come out of the barn for a good 2 years or so and as far as my parents are concerned i will not work on it until i have other things finished. i paid $8,000 for the charger so if i were to sell that for what i paid i would end up with a total $10,000 to put down on the charger so i would only have to pay off $5900 and at 6.65% for 72 months that is about $100 a month. right now i put about $70 in gas in the truck every other week if i am lucky and depending how much i work and if i have days off from school. so that $140 a month in gas the new chargers get 21 mpg city where my truck gets about 10 mpg city which is what most of my driving is so instead of paying $140 for gas i would probably end up paying only $60 or so a month for gas. right now i have put at least $100 worth of parts in my truck every month since i got it (about 3 months) and i still haven't even touch some of the parts my mechanic said needed to be replaced which are also expensive items. besides paying of my parents the money i owe them $25 a month i have to pay off a phone bill about $12 and that is about it. so the way i see it i would rather pay about $197 a month and have a car that i just get in turn the key and go instead of paying $295+ and thinking to my self what will go bad on my truck next that i will need to replace and how much will it cost me to get the part and fix it my self. right now the truck takes up 1 1/2 of my 2 paychecks a month where the charger would only take one of them leaving me money to start building up funds to go out and buy another project charger and if i were to go back to where i worked during the summer making $10/hr i would be able to pay off the charger sooner and get even more money to buy a project charger maybe even sooner as well. 

[supserdave]

If you buy a used car on a 6 year loan, thats stupid in my opinion. If you don't need a truck, sell it for 2000, and go buy a 2000 dollar car, there out there. I'm partial to GM's with the 3.8 for beaters, they run forever and don't take to much to up keep. Keep the charger!

Have you factored in the higher cost of insurance? Can't have liability on a car with a bank note against it.

My 2 cents, but keep the charger. It's not going to drop in value, where a new one will for sure.

[rt green]

i still agree with bull. get a used beat up gas sipper. 5 yrs from now, you'll be glad you held on the charger, because all of your bill mess will be cleaned up and you'll still have it. then, you could pick up something nice  and have the best of both worlds.

[70charginglizard]

I think selling a classic Charger to buy a new "Charger" is a very bad idea.

 
   

I second that agreement

[A383Wing]

I don't get paid enough to think!

Bryan  (driving a '88 Shadow back & forth to work)

[BigBlackDodge]

Get a beater, sell the truck.......keep the old Charger. Insurance on a newer car at your age will be brutal.

You will always regret selling the Charger..........even if it is green! 


BBD

[694spdRT]

I have to agree with most here that buying a new Charger or anything like that and the loan that goes with it is not really the best idea in your current situation. If you think you can afford to get a loan for $5,900 then find something in that range and sell the truck to help pay that off. If you fall behind on your bills at least you have a back up plan of selling the Charger. Otherwise, if you sell the Charger, sell the truck, and buy a new Charger you are a couple missed payments away from having nothing but bad credit.

Troys idea of getting a part time Holiday season job is good too.   

[sailpanel]

Don't do it man!!!!!!!!! I guarantee you we could start a new thread and go multiple pages on people telling about the cars they've sold and regret ( including me ). Crap, it took me ten years to restore mine, you're just getting started compared to that.

[Silver R/T]

no offense but if I were making minimum I wouldnt be buying a new car, especially a magnum. Id keep the Charger, sell the truck or trade for little running 4 cyl car that gets 30-40mpg and save money.

[69charger2002]

what year charger do you own?? i agree with most, i won't get into the new charger/old charger opinion, but the insurance reasoning is a very valid thing to take into account.. it will eat you alive carrying full coverage at 17.. will end up costing you more in the long run for a note and insurance than you're even in debt now.. sell off the truck for $2000 and get you a beater... save that old charger

[bear]

i do have a job but i work at a garden center so once we are done selling Christmas tree we only have a few people there just to take care of the few people that come in to get stuff for next year or come in for random things. maybe things will change this year for me and i will be working during the down time but it probably wont happen. one of my random thoughts was to have some one i know buy the charger from me and then i could get a new car and they would hold onto the charger for me and then i could buy it back from them later on but i know that will never happen.

[69bronzeT5]

what year charger do you own??

By the look of his avatar (the stripe), its a 69

[bear]

what year charger do you own??

its a 69
http://s41.photobucket.com/albums/e271/bearscharger/69charger/

[69bronzeT5]

what year charger do you own??

its a 69
http://s41.photobucket.com/albums/e271/bearscharger/69charger/

I say keep the 69 man. The prices of 69's will only go up. If you sell yours, you might not be able to afford another like it. My 69 was worth 5k a few years back. Now its worth about 8k.

[The70RT]

Right now in my opinion by looking at your pics it would be hard to get 8 for it right now. Keep it and then you won't loose on it. Prices will be back up. Another thing - every year when you renew your registration for a 07 you better have 400 bucks in your pocket.

[remta1]

KEEP THE CHARGER
SELL THE TRUCK
BUY A CHEAP RELIABLE HACK
USE THE MONEY YOU WERE GOING TO PAY A LOAN OFF WITH AND PUT IT INTO YOUR CHARGER ( BETTER THAN INTO THE BANKS COFFERS ) AND YOUR SORT YOUR BILLS
PERHAPS LOOK FOR A JOB THAT EARNS A LITTLE MORE MONEY , AND THEN YOU CAN re- adress your financial situation ( every year they make new cars , not every year do you find classic chargers ( i know i typed in a capitals , couldnt be bothered changing it back ! )

GOOD LUCK

[Dave22443]

So... what kind of truck are we talking about here?  People are always looking for a good "go to the dump" truck.

[dodgecharger-fan]

If you think you can afford to get a loan for $5,900 then find something in that range and sell the truck to help pay that off. If you fall behind on your bills at least you have a back up plan of selling the Charger. Otherwise, if you sell the Charger, sell the truck, and buy a new Charger you are a couple missed payments away from having nothing but bad credit.

$5900 will buy something pretty decent.
If you do get 2000 for the truck, then your loan drops to 3900. That's not too bad at all.
Then, if the new ride is that much better on gas, you're gaining some ground.

If you can get a line of credit or personal loan at a decent interest rate, that'd allow you to pay it down faster whenever you come in to a few extra bucks. Car loans are usually closed and don't allow for accelerated payments. Yes, I realize that not everyone is in the financial position to get a line of credit or an unsecured personal loan, but it doesn't hurt to ask your bank. Just be sure to tell them why you're asking. If you come across has having thought it all out, they'd be more than happy to take your money than let someone else do it.

Do your homework on that one though. The interest rate is where you need to be careful.
Make them do the work for you though. Ask them the total cost borrowing. Pick the lowest cost of borrowing but with payments that still fit in with your monthly cash flow.

[bear]

So... what kind of truck are we talking about here?  People are always looking for a good "go to the dump" truck.

it a 95 chevy 2500 with an 8 foot bed i got if from where i work so it is beat up a bit from the loader and fork lift.

my only real concern is that if i sell the charger i will go back in a few years and windup paying more then i paid for the one i have now and it will be in worse shape then mine as well. i am not concerned that i wont find one i'm sure they are going to be around years from now but i just will have take a long drive to go and get it

[Charger_Fan]

Bear, clean the truck up real nice, sell the truck, buy a cheap driver with the proceeds & pay down your existing debts. Once your debts are paid off, save some money & move out of your parents house next summer...can you say FREEDOM??

First, make a deal with them to store the Charger for a couple more years, until you get the financial ball rolling better. If they hear you've got an actual plan for moving out next year, I bet they will GLADLY accept that idea!

(driving a '88 Shadow back & forth to work)

Sounds about like me.
I paid $600 for this last year & other that gas & oil, I've only put maybe $300 into it.
It's a great little daily driver.



I forgot to add that I bought it some new shoes this year for $200...so now I'm into it for $1,100 total.
Still pretty friggin' cheap.

[The70RT]

Depends on too if you need a truck. I would be lost without one.

[Paul G]

It's hard to tell someone else what to do so I wont even try. I will tell you what I did.

Way back when when I was young..... Time flies..... I was in debt and decided to not waste money on new cars, or flashy things until I was in a position to afford them. I drove junks, practical cars that cost very little to keep. Like cheap liability only insurance, cheap license plates, easy on gas. I paid down all my debt and then put my money away for the big things like a down payment on a house. Now I am 49 and have a beautiful home, my 73 Charger, a 2001 Corvette convertible, A Dyna wide glide. And finally, most importantly a 401K. Believe me I did without for a lot of years. But it all paid off in the end. I just bought my first new car at 48 years old. I got a Caliber, still cheap to keep and good on gas.

If selling your 69 is the right thing to do at this point in your life then do it and dint look back. You can always buy another one someday when you are better able to afford it. You said you are working, we all have to work. So work at a job that will pay a man a decent wage. That is easier said than done. But if a man is determined to go out and find something better, he will. Believe me, a man can do whatever he wants to, if he wants to bad enough.

Good luck to you.

[bear]

well after some more thinking and seeing that the two chargers i was looking at were both rental cars i think i am just going to keep what i have for now hopefully the truck will make it through the winter without anything major going bad. that and as soon as it starts snowing around here it would be better to have the truck just because if i get hit i will have very little damage on the truck as opposed to the car that hit me or if i had a new car.

[Dave22443]