I made a big mistake…

posted 3 years ago in Home
Post # 3
Member
2419 posts
Buzzing bee
  • Wedding: August 2015

Have you called the dealership? My friend bought a car, drove it for a few days, hated it and took it back to the dealership and got something different.

Post # 5
Member
1582 posts
Bumble bee
  • Wedding: November 1999

@MichiganGirl24:  It doesn’t sound like a bad car and you are still saving $80 a month. It is really easy to get buyers remorse after a large purchase. Do you think that as time passes you will come to be happier with your choice?

Post # 6
Member
10494 posts
Sugar Beekeeper
  • Wedding: January 2011

@MichiganGirl24:  Can you get a line of credit or a personal loan from the bank to lower the interest then?

I’m surprised the dealership wouldn’t give you all the money & taxes back, or at least a full credit.

Post # 8
Member
11772 posts
Sugar Beekeeper
  • Wedding: May 2013

You’re losing 4K if you ditch now, right?

So I’d drive it for the year and then refinance!

Post # 9
Member
855 posts
Busy bee
  • Wedding: December 2012

@MichiganGirl24:  You’re a second guesser… like me!  Seriously, even after considering all angles and arriving at a decision, I later start thinking I shouldn’t have done something.

I think it’s easy to think you got a raw deal right now– gas is cheaper in the winter and prices are lower than they have been.  I think when the summer driving months hit you will see greater savings.

If you have a time period when you can cancel the deal, then absolutely do that now since that’s a time sensitive thing.  But if you can’t do that, but you can afford it, I would pay it off and keep it.  I’m not a fan of financing vehicles since they always decrease in value.

Post # 10
Member
9244 posts
Buzzing Beekeeper
  • Wedding: September 2012

@MichiganGirl24:  Well, don’t feel stupid.  We all have buyer’s remorse sooner or later about something or other.  Now that you’re in the situation consider it a lesson learned that you won’t repeat in the future.  Car salesmen tend to be very high pressure, too.

Have you tried speaking with the manager at the dealership?  I would call and make an appointment to meet with him or her in person and explain things the same way you explained them here.  Don’t give up quite yet.  Dealerships usually don’t want bad publicity and generally want their customers to be happy.  If going to the manager doesn’t work you could live with it for a while and then refinance later or try selling it.  Good luck!

Post # 12
Member
10494 posts
Sugar Beekeeper
  • Wedding: January 2011

@MichiganGirl24:  It never hurts to at least check.  You should be able to get a good idea if they can offer you something better without a hard credit check, I recently opened a joint LOC with DH and neither of us had a hard credit check for it.

Post # 14
Member
2885 posts
Sugar bee
  • Wedding: May 2014

Interest rates have been going up.  If your previous purchase was between 09 and early 13, your interst rate would definatly be lower then than it would be now. 

Post # 15
Member
1106 posts
Bumble bee
  • Wedding: July 2012

@MichiganGirl24:  slap a little red wings emblem on the window and it will make it feel like the best purchase ever =)

I think its likely just buyers remorse. we just sold my husbands cobalt for a newer, certified mercury mariner suv and he immediately started questioning if it was a good idea. he loves his car and it is so much more practical for us — but he was a bit shocked by the price tag compared to what we were paying (although its perfectly within our means and we’re not stretched to pay the loan)

Post # 16
Member
9244 posts
Buzzing Beekeeper
  • Wedding: September 2012

@MichiganGirl24:  Well, if you paid off the car loan in cash you’d save all the interest. 

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