Huge mistake, need advice!
 

Hey everyone, i know its my first post, please dont run away and forget about me. Been lurking for the last 3 months but waitin to actually post till i had a Z.

Anywho, heres my situation. So about 3 weekends ago i finally couldnt take saving anymore and went out to buy my new car. All my research and knowledge was on the 370, its my dream realistic car since they came out. But i was also attracted to the 5.0 boats since my friend has one

Well i went to the stealership, test drove and loved the Z. Went back inside and they said they wouldnt approve the loan with 6k down. (21, first time buyer...even tho i make more than enough money, understandable). So i went on my way back home to see if my dad would co sign for me and what not, and on the way i decided to stop buy this ford dealership and test drive a stang for fun. Well...i got hooked on the power, and Recaro seats. They approved me for the loan, did some wheelin and dealing...and ended up impulse buying it

Back to present day, im borderline miserable. The only thing keeping me sane is the nice front end. other than that i want nothing to do with it.

My question and need for advice is here - What do i do? I want to trade it in and know i will lose money. Does anyone have experience with trading in a financed car? How long i should wait, how much i should expect to pay extra for the Z loan?

Should i trade in, lose money now and be happy with my car? Or wait a year or 2, be unhappy, and still lose money? And theres also the new Z comin out in 2 years, that was my original plan, to wait for that. But the regret is just gettin so much stronger every day i doubt i can wait that long without knowing if the wait is worth it.



Huge wall of txt, im sorry! any advice is welcome



TL:DR I bought a stang 3 weeks ago, got over the fun power, now want my dream car again! (Z34). Advice on trading in financed cars, gogo!

I guess if all else fails, now you know not to be so impulsive
Good luck by the way :tiphat:

In order to make the numbers work, you probably have to wait about 3 Years, otherwise you will take a big hit on it.

Sorry

Get a nismo plate frame and you're all set!

I hate to go Captain Hindsight, but now you know that patience is key. If one dealership says "no", there are many more that will say "yes".

The 370z is always going to be there so I would hang tight and make some payments. Don't be impatient and trade it in and end up losing your ***.

Well, there are plenty of defectors willing to buy Mustangs here, I would list it FS and see if it bites. You may have to eat some fees though.

There's Always the full coverage insurance........

You are so screwed.

Now you are going to need the $6K you HAD for the Z downpayment plus another few thousand to cover the hit on trade. If you really have to have a Z now, you may need to start shopping used, and look for an early model with a lot of miles on it. Good luck.

Since you only put $6k down, you're most likely already upside down on your loan so if you're willing to eat the loss, then go for it. I wouldn't recommend trading it and rolling your negative equity though. Being financially responsible, you should keep it for a few years. Maybe wait for the z35. Consider it a lesson learned. At least you have a 5.0! Could be worse!

I'd just hold on to the Mustang for a few years. By that time the next Z will be out, too.

Thanks everyone for the advice, guess the z35 it is :(

i wanna go crawl in a hole and die for being so stupid!

Now what if i pay double the payments. And i pay 2 years worth in one, would it be the same as waitin those 2 years for the trade in, or are you saying wait for a different reason other than my loan

I would just keep the 5.0 for now... wait couple years. Also you might want to change what you drive in your profile too :) Have any pictures of the Mustang?

haha yea sorry, im a liar! i do but i have no idea how to upload em. ive never joined any forums. Mustang forums blow! First thing i regretted after i bought it was the lack of fun people in em

Very tempted, and to take a pic and make it my forum pic

Buyer's remorse sucks. You and JohnsZ should talk so he does not fall off the cliff.

http://www.the370z.com/other-vehicle...-me-henry.html