i agree.

im sorry to hear that you are contemplating selling your S. i've been there where the cost of maintaining the S and all these other debts are weighing on you. i'd suggest careful and strict budgeting to start and if that doesnt work, then sell the car with a goal in mind of picking one up again. sounds like you're smart and working towards a degree so you can probably afford one in the near future. just not now.

 

i don't believe this would work because the bank and the original buyer had an agreement.

what you could do is make sure your asking price is at least equal to or greater than the amount you owe to the bank. that way you won't owe the bank any money. however, if your asking price is less than the amount you owe to the bank, you will still have to pay the difference.

 

What year is your S2000?

Are you interested of even swap with 2005 MINI COOPER S (real JCW version) ? 47,000 miles.

 

buy the car from your uncle if your paying cash. a loan on a 10 year old car is extremly high. or try to do a signature loan, i loaned $5k to buy my integra and i put $5k in a cd and loaned against it. i'll have it paid back in 18 months and the interest is 3%. my CD is earning more money than ill pay back so i'm making a little money off borrowing from myself

 

My thoughts exactly. I would not own a car that cost that much to insure based on my age/location/driving record.

I insure 3 cars, a sport bike and a pickup for $130/month, full coverage on all but the beater car!

 

Pay that off first.

 

If you really want to keep the S, turn in the plates and cancel your insurance. Then buy a junker and insure with comprehensive only. Doing this you won't be able to drive your S but it will be sitting and waiting for you when your financial status improves.

 

Good idea. Its hard to find a Miata for 2800 that has great history.

 

Man just sell the stupid car. If all the car is doing is causing you financial stress its not worth keeping anyway. Besides, its only a car, you will be able to buy a much nicer car if you get out of debt and out of school. I can never understand why people put so much of there energy and money into cars anyway. They are quite possible the worst investment you can make. That being said I love my car and have spent probably 40,000 dollars between buying the damn thing and all of the mods. Do yourself a favor though, run from the car payments. Save your money and pay cash for your vehicles. In the long run if you stay out of car, and credit card debt, you will become a wealthy man. There has never been a millionaire made on credit. PAY CASH FOR YOUR SH+T. good luck

 

Basic transportation is a necessity in many places; an S2000 is a luxury item. Let the sucker go, get yourself to a better place financially, and then indulge yourself. You say you're in school and it's likely you'll have a larger income in the future. There will be plenty of time for sports cars in your future.