Possible ST Replacements? Need opinions!

[Kip2MyLou]

Unfortunately, I might be getting rid of the ST. I bought the ST on top of money I owed from my last car, so the payments are kinda high, for a $24,000 car.

What I was looking for are some cars that start under $20,000 that I could trade in on the ST leftover payments, and get my payments lowered. I was looking at a Honda Fit. I've heard nothing buy great things about them.

I was going to go to Honda and have them crunch the numbers and see if it would make any difference in my monthly payments if I did this. I'm looking to save about $100 a month on this possible new car.

Any help would be appreciated guys! Thanks.

 

[FocusMike]

If you buy a new Honda Fit you're going to end up owing about the same amount as your current ST plus take a hit on the trade-in. Some credit unions will offer lower interests rates on pre-owned cars. You can refinance from them to payoff your current loan.

 

[Kip2MyLou]

I already have the lowest interest rates possible. I was thinking of just going there and seeing what they'd say.

 

[JPGC]

The question is, can you refinance for a better rate and lower payments? Or, are you just ready for something different? I have had a Honda Fit and it was a good car, but was boring and did not have enough power. My FiST actually gets better gas mileage. Here was a pic of my Fit...

 

[FocusMike]

I already have the lowest interest rates possible. I was thinking of just going there and seeing what they'd say.

Don't forget you're still on the hook for your current loan too. So if you still owe $24,000 on the car and the dealers offers you $18,000 that means you still owe $6,000 on top of your new purchase.

 

[JPGC]

Don't forget you're still on the hook for your current loan too. So if you still owe $24,000 on the car and the dealers offers you $18,000 that means you still owe $6,000 on top of your new purchase.

Exactly...

 

[Teezlr]

Unfortunately, I might be getting rid of the ST. I bought the ST on top of money I owed from my last car, so the payments are kinda high, for a $24,000 car.

What I was looking for are some cars that start under $20,000 that I could trade in on the ST leftover payments, and get my payments lowered. I was looking at a Honda Fit. I've heard nothing buy great things about them.

I was going to go to Honda and have them crunch the numbers and see if it would make any difference in my monthly payments if I did this. I'm looking to save about $100 a month on this possible new car.

Any help would be appreciated guys! Thanks.

What your interest rate? Maybe refinance and save the difference that you are looking for. Borrowing money for another new car isn't the answer.

The car has depreciated, the trade in value is roughly 17k... So just stick it out and refinance but if you sell/trade your taking that depreciation hit...

I was thinking of trading for an ecoboost mustang, just paid about $8,000 down on the loan in 6 months.... Still owe $20,000 and they wanted to give me $17,000 trade in..... So basically $11,000 to drive the car for 6 months if I trade it in.

That's a bad deal IMO.

I understand the dilemma and it sounds easier to trade it in but in reality...refinancing, cutting cost or making more money or preferably all 3 would allow you to keep the ride.

Hope that helps

 

[Kip2MyLou]

That all helps guys. Thanks.

I don't want something new, I love this car, I think I just hit that moment where you want lower car payments. Haha.

 

[JPGC]

Also, if you go in to the dealership saying that you want the lower payment and you have good credit...they will get you a lower payment at the expense of something else like an extended loan period, etc. Just like others said...trading isn't going to help you in the long run.

 

[Teezlr]

Yeah, $100/month is roughly $3/day.... so I'd pay/save $3/day to drive the fiesta ST instead of the Honda Fit... woot woot you got this mane

 

[airjor13]

Don't do it, since you already rolled over 1 loan, don't do it again with another.

 

[Sourskittle]

About the only think that would look at if i had to trade the fist off would be a yoda collorla. Great car, and cheap enough to lower your payments, cheap insurance, and good resale. Not that i'd WANT TO, but if I had to...

 

[SecretSquirlTuned]

I wouldn't recommend doing it but if you do, find a cheap new car that has the highest possible rebates to counter act your negative equity. If you find a car with crazy good rebates even if you hate the car that's your best choice. Or you keep the car you love and pay to play. YOLO

 

[TheStig]

I was in the same boat when i got my FiST, had to get rid of my MS3 and it was having issues that Mazda would not cover under their warranty (never own another Mazda again), and was upside down on it. I THINK i owed about 18.5k on it and they gave me 14k, so i had to roll into 4.5k worth of debt making my fully loaded FiST a close to 30k car which means its my car until the loan is paid off basically lol.

I have always loved the Fit, but it doesnt get great mileage and the 2015 Fit is ugly compared to its predecessor.

 

[Sourskittle]

My GF says last night, "I wish "fiesta" had a lounge chair like the honda fit".

I say, "Fiesta wishes I had a new girl friend that won't complain about its racing seats.". Lol.

I have to admit, I do want to try that "lounge" function in the new honda fit where you sit in the back seat with your legs lounged over the passenger front seat laid flat.

 

[Brick]

Sounds to me like you need to get your finances straight. Take it in the shorts on the ST, and buy a used car for under 7k. You can buy a Ford Focus SVT if you still want to have fun. That or get something reliable.. save for a couple of years, and get back into the financial swing of things. The last thing you do when you are looking for more affordable monthly payments is get into another new car, especially if we are talking of a car that is still north of 15000 dollars.

 

[rodmoe]

We looked at Replacing our current Honda Fit with a new one for about 23 minutes then moved on to shopping the Golf which went north in a hurry after seeing the specs on the R model with a engine tune and the DSG can be tuned also. since it has to be a Auto per her request had to test drive a GTI with DSG and all we could say was wow and the R has more power and AWD..
but back to your problem if the Fit gives you better operating costs and by better I mean better MPG and less cost of mods or tickets and such then go for it and roll your debt into this one as I can say with our 2009 Fit Sport it has only cost us money for Maint and daily operating. there was one recall for the valve train but no cost to us.. Otherwise it has been bulletproof but a boring drive when lined up against the FiST..
In the end you need to do what you need to do for your situtation and learn from it.. I wish you could keep the ST and just live with it but if not at least you knew how fun they are

 

[Kip2MyLou]

It's not that I'm strapped for money every month, just wouldn't mind some extra spending money. Like we all do I'm sure. Ha. And it's not that I don't love the ST because I do, but like I said I think I was just having one of those sell everything to have a few extra bucks a month moment.

And I'm probably a little pissed off because of this clicking clutch still hasn't been resolved. When that gets fixed I'll have nothing to complain about the car.

 

[airjor13]

It's not that I'm strapped for money every month, just wouldn't mind some extra spending money. Like we all do I'm sure. Ha. And it's not that I don't love the ST because I do, but like I said I think I was just having one of those sell everything to have a few extra bucks a month moment.

And I'm probably a little pissed off because of this clicking clutch still hasn't been resolved. When that gets fixed I'll have nothing to complain about the car.

Try lubing the clutch pedal area / spring with some grease, mine clicked and after I lubed, click is gone.

 

[Kip2MyLou]

My dealership said their engineers are coming to the dealership tomorrow and he'll have an answerve for me then. If they still don't do anything then I'll try that. It's so damn annoying.