Offered 32K for 2019 Alltrack SE, considering options

[Daks]

Why would you sell the parts, at a loss, when you are looking to buy a new Alltrack? Would you reuse the parts?

What you wrote makes sense. What types of rates are on your car and your lady’s car?

 

[Dog Dad Wagon]

Yeah you’re right I should keep the parts haha. Because I would absolutely want to install them then.

 

[Daks]

well I need a car!!!

the point is to get out of credit card debt. I’m currently paying $300+/no in credit card debt on top of a $420.53 car payment, + student loans, rent, bills, dogs etc. this would get me out of CC debt and allow me to save a large amount to have a good down payment on a car next year, where my monthly payments would be lower. So it’s a double whammy on the other end.

I’m not going to give you an answer here because everyone’s answer is different. This is more of a statement to reframe your way of thinking. My grandfather told this to me in my early 20s and it is advice that i always followed. Don’t adjust your lifestyle to suit your spending, adjust your income to suit your lifestyle. Look at ways of earning more money. I have found that the “sweet” spot begins at seven separate income streams; so: your job, your 401k, your stocks, your lady’s job (if you are an item), an investment property etc…

 

[randomhobo130]

Lots of great responses here, it’ll take a bit for me to respond appropriately. I appreciate everyone’s input.

I’ll say that I’m feeling the pain of irresponsible spending once I bought my Alltrack, and the worst part is I’m super invested in a car I now regret purchasing, because I wish I got a DSG lol. Most of my credit card debt is from parts I bought for the Alltrack. I was in 3k of debt when I got the car. Currently around 10, and I paid 1500 last month. Those parts are all sitting around uninstalled. I have the cash to pay off most of the debt but then I’d be broke which is equally disconcerting.

this offer from this guy would be enough for me to get straight out of debt, and then I’d sell my thousands worth of BNIB parts and get even more money back once the debt is paid off. At that point I’d be splitting my gf’s car payment which is 370, so 185, compared to my car which is 420.53. so I’d be saving another $235 a month or so in payments, while also not paying $300+ /month on credit debt. I also wouldn’t be paying $165/mo in car insurance.

I also just got a promotion and I’m now making 19k more than I have been the last few years, so the Equation really is stacked in my favor here.

I’d be saving $~700 a month in bills for about 7, 8 months (September to March/April), and when my tax return/bonus comes that’ll be another lumpsum ~10K or so. Hoping the market settles somewhat by then, I feel this is a once-in-a-lifetime opportunity to “change my cards,” not just play the hand I’m dealt (or, more accurately that I dealt myself)

More relevant info here, when I got my car last year I lived at my gf’s parents house. Now that we’re on our own, it’s been a big wake up call on managing my money properly. That’s why I want to do this - I care more about setting myself up for the future than committing to owning a car that I no longer want, just on the principle that thus far I’ve traded my cars too often.

It’s either “work my way through” the current situation which means I wouldn’t be out of CC debt until March 2023, or take this dude’s offer and make some big adjustments to my life to set myself up to be able to afford a house in the next few years.

which still lends to not buying a more expensive SUV when the time comes to get another car. I do work from home and I do think me and the lady will be able to split the car without too many issues. So likely I’ll just buy another Alltrack SEL DSG with Marrakesh come Spring time, lol. I still love my car I just wish it wasn’t a manual. I went with the manual bc it felt like the last opportunity to do so, but that only matters if you really CARE that much which I thought I did, but I don’t haha.

All of this said, my opinion, sell the car. If you find out that you can't get by sharing your gfs car after a month, go out and get a beater for ~1000 bucks that'll just get you around where you need to go and still keep things cheap. I think this could benefit you in the long run for sure if you're able to be patient and stick to your plan

 

[Dog Dad Wagon]

All of this said, my opinion, sell the car. If you find out that you can't get by sharing your gfs car after a month, go out and get a beater for ~1000 bucks that'll just get you around where you need to go and still keep things cheap. I think this could benefit you in the long run for sure if you're able to be patient and stick to your plan

Yeah you're right about the beater. Shit - my parents would likely let me "Borrow" their beater 2007 Subaru forester that was inherited in my grandpa's death. my dad also works from home and never goes anywhere, they actually were a one-car unit until he got the free subie lol.

 

[Dog Dad Wagon]

Why would you sell the parts, at a loss, when you are looking to buy a new Alltrack? Would you reuse the parts?

What you wrote makes sense. What types of rates are on your car and your lady’s car?

Yeah my thoughts about selling the parts were driven by my initial thoughts to buy an SUV. But if my goal ends up being getting back into an Alltrack, it'd be pretty sick to have those paid-off parts ready for install

 

[DSC808]

TLDR

What parts are for sale?

 

[randomhobo130]

TLDR

What parts are for sale?

Hahahaha dude just sliding in here like "Did someone say parts?"

 

[fredothechimp]

The used car market being up goes both ways. Any benefit you gain by someone overpaying for your used Alltrack will be lost when you overpay for a "new" used car. The only way to win this game is sell now, and not buy another car for who knows how many years until things settle down.

Yeah, the car market is probably going to be like this for years.

 

[jimlloyd40]

Yeah, the car market is probably going to be like this for years.

Not really. The chip makers are starting to catch up slowly. Probably another 6-9 months. Here's Ciscos estimate.

https://www.bbc.com/news/technology-56847518

 

[JC_451]

Credit cards actually accruing interest and saving for a house are diametrically opposed.

Cut loose the Alltrack, I would cut loose the parts too. Put all modded car/fun car plans on hold. Pour all available funds into paying down debt until that's not even a consideration.

When you come out the other side of the tunnel maybe start shopping again.

 

[Rennwagen]

Lots of good advice in here.
The phrase “act your wage” comes to mind.

Debt sucks. Selling my fun car, buying a beater, and paying off all my debt was the best financial decision I ever made. It was lame driving a mazda3 with no AC in Southern California summers. But ultimately I was able to afford to make some bigger life changes much earlier on (getting married, moving, etc.)

If selling your car eliminates your debt, and you have the cash to buy a replacement vehicle outright if things don’t go well sharing a car, I say do it.
As rewarding as driving a fun car is, it’s not as rewarding as being financially free.

 

[averyislost]

Agreed with everything here. Beater cars are more expensive than ever, but if you can set aside like $4 to $5k for a decent one after you sell the alltrack, you should be set for a while. No car payment is awesome, and even more awesome is getting out of debt.

 

[MonkeyMD]

Sell the Alltrack.
Pay off credit card debt
Rent car from gf, pay half or whatever you want to call it.
Save for a year.
Buy your Alltrack back for pennies on the dollar when car market corrects

 

[Gray_Panther]

Sell the car. Buy a cheap golf or civic. Ride out the market. Sell the beater and get a 15k wagon. People not acting their wage is what is getting this country in bigger debt trouble.