Selling a financed car early

Fuzzy_Logic
Fuzzy_Logic

I financed a fully loaded 2016 Fiesta ST for 6 years because it was the longest period I could get with a 0% interest. I absolutely loved it at first and would have zero regrets today if things went as planned, but some faggot crashed into me doing 40 over the limit a year later, and now my new car feels like a rattling shitbox even after being fixed. I'm tired of the expensive shitbox experience and want something non-crashed, and I'll probably be getting another car in 2019.

Between my down payment and my monthly payments, about half of the money is yet to be paid off, and I have more than enough money in the bank to pay off the rest right now. Would it be smarter to pay it off, and then sell it? Or would it be smarter to make someone pay a few grand to take over my monthly payments? Is there another option I'm missing, besides stripping out all the insulation and buying a deafeningly loud intake, so I can't hear any of the rattles or creaks?

Ignoramus
Ignoramus

@Fuzzy_Logic
Just post it on Craigslist as a "take over my payments" post, people love those.

Supergrass
Supergrass

@Fuzzy_Logic
some faggot crashed into me doing 40 over the limit
how was it not totaled?

Dreamworx
Dreamworx

@Fuzzy_Logic
Sucks to hear, I think it's just a matter of time until you find someone clueless enough to buy it off of you.

viagrandad
viagrandad

Also, for all the poorfags who told me to buy a used car, fine. You win. I concede.
@Supergrass
40 KPH, not MPH, and it was a sideswipe so the airbag didn't even go off. My car didn't have any mechanical damage and just needed a new front-left fender, sideskirt, and driver door. His Mazda3 was completely totalled. So congrats Ford on making a stupidly tough car.

iluvmen
iluvmen

he thinks the wreck caused the rattling.

Evilember
Evilember

@Fuzzy_Logic
Crash into a concrete barrier at 23 mph

TechHater
TechHater

@Fuzzy_Logic
You should talk to your financier first, they may have policies about selling your car early.
Not "lol no u can't" policies, but things they'd like addressed during the process.

lostmypassword
lostmypassword

@Ignoramus
What, why would anyone do that?

Supergrass
Supergrass

@Fuzzy_Logic

Financing a Fiesta for 6 years.

6 years

a Fiesta

Don't you have parents to smack you around a bit?

Fried_Sushi
Fried_Sushi

@Ignoramus
sure ill gladly pay for the remaining shit years of your beat up pos brz

Poker_Star
Poker_Star

@Supergrass
0% interest
I could afford to by it outright, but it wouldn't be cheaper to do so and I'd have less money in my savings account, so why not finance?

Firespawn
Firespawn

@Poker_Star

You need to ask?

The situation you're in is not an answer by itself?

You clearly had to be stupid to finance a fucking Fiesta, but I didn't think you were this much stupid.

RavySnake
RavySnake

@Fuzzy_Logic
Selling a car with a rebuilt title is gonna suck balls m8 your gonna lose all your value, you just gotta eat it man, pay off the car and use it till it dies

girlDog
girlDog

0% interest
Did you finance it with Dad?

Carnalpleasure
Carnalpleasure

@girlDog
Ford has been doing 0% finance deals for awhile now. They make it up by removing a few "incentives" so while you aren't technically paying interest they are still getting the money you would of payed as interest.

Stark_Naked
Stark_Naked

@Firespawn
While you're right that OP is too stupid to figure out things on his own, you must be even more stupid to not be able to figure out how interest rates work. Do you have a bank account, or do you just take your pay in cash and hide it under your mattress?

Evil_kitten
Evil_kitten

@Poker_Star
Would've been cheaper to buy a 2012 ST.

SomethingNew
SomethingNew

@Carnalpleasure
Huh.
Well anyway, you'll need to contact Ford and tell them you want to sell the car and they'll calculate a payout that you'll need to make to square your debt. There maybe some fees on top of the outstanding principle.
Once you get that amount you have to figure out if you can sell the car for that much, factoring in damage and depreciation.
Or you can contact them to see if they'll approve someone else taking over the payments, but if it was bargain loan it may be non-transferable.

Protip: You're probably gonna take a bath on this.

Inmate
Inmate

@Fuzzy_Logic
drives a Ford
thinks rattling is actually from the impact
Take it from a guy with a 2001 mustang ford for some reason believes everything should rattle at some amount of speed
T. Fordfag

RumChicken
RumChicken

@Fuzzy_Logic
isn't ford being sued over their fiesta transmissions?

VisualMaster
VisualMaster

@Supergrass
you'd have to be retarded not to choose the longest amount of time that a 0% loan is available for.

CodeBuns
CodeBuns

@RumChicken
Only automatics are shit, Ford manuals are fine

Carnalpleasure
Carnalpleasure

@Fuzzy_Logic
loan takeovers are stupid because all that really happens is your loan is paid off with the proceeds from the new owners loan
the new owner would have to apply and qualify themselves at their own rate and terms and I don't see any lender letting a 0% get transferred

you will get more money from the car if you have a clear title-in-hand at the time of sale
if your next car is coming from a dealership you could always try trading in, but given the condition of your car now you would likely get far less than a private sale

if you still have your loan paperwork handy check out your Federal Truth In Lending sheet, it will call out any prepayment penalty or fees you might be liable for

Bidwell
Bidwell

@Carnalpleasure
tfw my cuck gubment has banned 0% deals for fear of people thinking they don't have to pay the product itself
3% interest by law on any debt, credit whatsoever
almost negative interest on bank accounts
stealerships still want 6-7%+
mustang GT is 120k+ because muh CO2 goyim, wrx sti is 93k, brz 52k
Fuck this gay country, can't wait to leave

idontknow
idontknow

@SomethingNew
Just trade it? The dealer takes the debt and gives you the value of the car

Firespawn
Firespawn

@Fuzzy_Logic
How the hell does a car not get totaled after a 40mph over the speed limit hit?

VisualMaster
VisualMaster

@Bidwell
But don’t you have unversal healthcare? I thought Yurop was perfect! The Killary voters told me so.

Stark_Naked
Stark_Naked

@VisualMaster
implying europe won't die a fiery death before 2030
Ayyy lmao
Yeah "free" healthcare with an 80%+ tax burden
I guess if you don't pay taxes via gibsmedats, then yeah it's free

CouchChiller
CouchChiller

this is why you never finance a car

BinaryMan
BinaryMan

@Bidwell
cuck gubment has banned 0% deals
BAHAHAHAHA and you people think america has been taken over by jews (i mean it has, but still)

Dreamworx
Dreamworx

@CouchChiller
except when you can afford it and get a favorable interest rate

0% financing is literally free money
you could, at a very base level, sit the money you would have sunk into the car into a fucking savings account and earn fucking .05% instead of sinking it all into a rapidly depreciating asset

CodeBuns
CodeBuns

@Dreamworx
favorable
interest
There's no such thing.
Debt is dumb and so are you for falling for the idea of financing a car instead of paying cash.
b-buht it's EXPENSIVE!
Then buy used faggot. You don't need a new car, you want it, and if you can't pay with your own money for your wants, you shouldn't be buying them.

idontknow
idontknow

@CodeBuns
You realize majority of new cars are financed or leased and not outright bought, right? Without people doing that, you wouldn't even have used cars yo begin with.

You also realize that the majority of the country (USA) makes less than $50k-$60K a year?

You also realize that your method of thinking is so dumb that you're not taking into account that people don't have $5k immediately to drop on a used shiitbox (that might need much more maintenance) when they need one asap?

Yes, debt is dumb but so aren't you. At least paying car loan debt builds credit.

RavySnake
RavySnake

@CodeBuns
When you are older you'll understand user.

Sir_Gallonhead
Sir_Gallonhead

If I'm financing 0%, couldn't get screwed on a trade-in because I didn't have one, and didn't take any of their other offers like rust protection/extended warranty/etc, where could they have screwed me? Is there any way they could have made me pay more than buying outright? I still got the employee pricing and first-time financer discounts (about 3k total off MSRP).

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