2012 Golf R FS in WA - Black 4 Door w Nav/Sunroof - 700 Miles - $35,000 or take over payments

[Fahrenheit424]

Close Thread Please. Thx.

Shoot me a PM if you may be interested. Haven't seen many of these going up for sale in the PNW so this could be an opportunity to save a fellow VW lover a little on the best Golf out there.

[Pchoi902]

Hey what's your payments like ??

[Fahrenheit424]

I didn't put a whole lot down on the car, and if you had more to put down you could renegotiate the loan with the bank, but as it sits the payment is $590-600/month @ 84 Months. (7,200 a year basically) But based on what I have read recently there is no way to transfer my loan to someone else. I need a buyer to get approved for the loan and then pay me, then I go to the bank and pay off my loan and the bank will sign the car over to your lender (and you), or if you could get a loan approved at the same bank it would simplify things.

[01OlFiE]

You should trade it in for a cheaper car and assume the negative equity. That is your best bet

[Fahrenheit424]

I had thought about that, but I am only getting rid of it cause until i find a job again I don't want a car payment of any kind... although I could trade it on something in the 15-20k range and save a lot depending on trade value.

[R32-4-ME]

How many payments do you have left and what is your pay-off balance on the loan?

[FenderR]

Considering that the loan is in your name, you really don't want somebody to take over the payments. They could ruin your credit, no offense, but more than it probably is right now. Guy could drive away with a car that is still legally owed upon by you...and I assume the payoff is most likely more than the car itself is worth brand new. You've got some negative equity or a subprime interest rate if you're paying that much... I financed 33000 for 72 months at 2.99% and that costs 500/month... I see this all the time working in the finance world, but your best bet is to sell it outright and pay the difference of the loan in cash as nobody will pay what I assume is ~39000 to bail you out of an already upside-down loan.

[Fahrenheit424]

I am trying to sell it outright and then pay off my loan and then the other person will have to turn the title over to their lender. Unless they happen to have the $35,000 asking price. And you are correct I did finance about $39,000 so I am selling at a loss. But, i have had some leads on jobs so maybe I will luck out and get to keep it. But as of now still for sale.

[Fahrenheit424]

And the loan is not upside down and nothing has happened on my credit. I have an emergency fund saved up and the first payment on the car isn't due till end of August, so that is why I am trying to move the car before I start payments and losing money towards interest on the car.

[BMP_3918]

$600/mo for 84mos??

[jbachert]

$600/mo for 84mos??

= $50,400. Holy Schnikes.

[FenderR]

= $50,400. Holy Schnikes.

I don't understand why banks would actually approve this though... Working for a conservative bank, it's banks and financers like this that screw up our economy!

Consider this - Wall St Journal prime has been around 3.25% for almost 3 years. The industry credit union average for an auto loan up to 72 months is 2.99% (banks charge more).

Out the door car price no money down plus mass state tax = 39163.75. Add registration and such it would be 39400 so I assume it was purchased for a few hundred off MSRP.

He financed about 39140.50
At 7.49% interest, over 8 years (never will this car be right-side-up during the life of the loan)
he pays 50,400.18. That's 11259.68 in interest of the life of the loan...ouch! So he'll have to fork over 4-5000 cash just to sell this car to somebody...sucks. Also, no offense again but you must not have qualified for 2.99% credit union financing, or you got swindled by the dealer because you haven't played this game before. If you financed the exact same amount for 72 months with 2.99% rate, you'd have a payment of 594.

This is what happens when you play the 'what payment would you like to have' game with a car dealership. I go in there and tell them exactly what I'm going to spend on the car, what they will give me for trade, and what I will pay out the door with a down payment. They hate me.

Here I was mad that mine is 500/month for 72 months and I'd have to pay 2.99% interest rather than get VW's 0% deal (mine's a 2013 and no dealers in the area had a 2012 I wanted). I will have paid exactly 3000 in interest over six years but plan to pay the car off in less than 5...I'll end up probably paying about 2400 bucks in interest which is about the same amount of interest on a base Honda civic if you bought it in 2006. Winning.

[jbachert]

This is what happens when you play the 'what payment would you like to have' game with a car dealership. I go in there and tell them exactly what I'm going to spend on the car, what they will give me for trade, and what I will pay out the door with a down payment. They hate me.

Amen to that. When they ask me what payment I am looking for I tell them I don't care about the payment - I care about the price of the car.

[R32-4-ME]

Is it still available. I'm in WA

[Fahrenheit424]

Car is still available at $35,000. PM if interested.

[illirep]

Not sure if I'd call paying $40k for a VW that will be worth $15k by the time it's paid off "winning", but you are certainly doing better than the guy paying $50k for the same car....

[COSitsWORTHit]

HOly Frack! 590 @ 84mos?

First of all...84 months? Who the hell finances a car like that?

[FenderR]

HOly Frack! 590 @ 84mos?

First of all...84 months? Who the hell finances a car like that?

Lmao that's exactly what I said! around 14k in interest over 7 years/~50k total paid! That's the value of a lightly used honda civic + a Golf R!

[FenderR]

Not sure if I'd call paying $40k for a VW that will be worth $15k by the time it's paid off "winning", but you are certainly doing better than the guy paying $50k for the same car....

lol I put down 20%; I didn't want to put down more because the car will depreciate too quickly for me to gain it back. Should have it paid off by 2016 with only about 2k in interest paid. Winning because I will be able to ge the next one

[need_gti]

Still available? I would be interested but currently I could go pick up a new 2012 for about $34k.

[pete88p]

damn man.. u shoulda got a mk5.. got mine for 23k out the door brand new with 12.5k down im paying 350 a month same loan length term