slvrmzdrx8

So basically the car is costing a little more than i expected it would. I need to find a good insurance co that wont rape me on rates to say the lest. And since im in my 30 day window, is it possible that i could return the car . But i love it, i really need low cost insurance, thats a big one. Also, when i financed my car i financed it with a warranty that i now l plan on returning so it would drop my premium down like over 2000. Do you think that since i could return it, that i would like to re-nagotiate my payment schedule to keep monthly cost down since im returning the warranty? Ideas, Ideas please ?

kiker14

As much as it hurts - my recommendation is to get rid of it. A number of years ago I bought more than I could afford with my truck, I ended up keeping it, but it made my quality of life decrease pretty significantly until I got married and received some extremely generous gifts from my family; and also a few raises at work along the way. If you are a brand new owner, and it's already tight - it's only going to get worse. The RX-8 is not a cheap car at all; it's relatively inexpensive when compared to most of its competitors, but the fact remains that it's really not great on gas, it requires premium gas, insurance if you are young (or if you have a poor record) can be expensive, not to mention tires, brakes, and other normal maintenance items all add up very very quickly. And if you are like a lot of us you will want to mod the car too - even small mods add up.

I'd say get out while you still can, get a more practical car (my second favorite car ever was my 1986 nissan maxima wagon, by the way), and save up for when you can really afford a newer, higher performance, less practical car.

slvrmzdrx8

The only thing holding me back is I am going to be losing over 1500 on the car just by returning it to the dealer, there going to kill me with fees.

kiker14

see if they have any other cars that are more reasonable and within your budget, they might be willing to ease up on those fees if you keep your business with them. And if not, $1,500 could be a small price to pay - it sounds like you would get that back in one or two years on insurance alone on a more practical car.

nycgps

iTrader: (1)

you should of know what you can/cannot afford before you sign that contract.

Also Car's equipment, driving record, age, martial status, education level, credit scores will effect your insurance rate. My 1991 Rx-7 cost more to insure than my 2005 Rx-8 by about 150 bux.

So if you can't afford this one, return it, take the hit, or see if you can beg them into letting you to return it for a cheaper car. You will still get hit, but probably not as bad as 1500.

monchie

Don't buy what you can't afford. Research before you buy and plan your budget.

NotAPreppie

Q. F. T.

These decisions are tough and it usually results in making the wrong one. I'd definitely investigate returning it and looking into something from their lot that is more in line with your price range.

Even if they don't cut you a deal (hell, even crediting half of the fees back for buying the follow-up car would be good) you'll still recoup the $ in relatively short order while maintaining a reasonable quality of life.

If you're hell-bent on buying something that would normally be out of your affordability range, get a cheap beater now and bank the difference for a few years. When you have 50% of the asking price in down payment the car you want will be much more affordable.

Huey52

iTrader: (2)

I really don't understand the insurance concern. My company (USAA) quoted it as a 1.3L 4-door 'sedan' which really didn't make it at all expensive to insure. But of course if you're young you're going to pay more regardless.

A Mazda 3 (even a Mazdaspeed edition) would be a good choice and as others have cited staying with your dealer could wave the fees.

xexok

What exactly are you paying per month for insurance?

Mr.ThunderMakeR

You bought the car before shopping around for insurance? Not very smart....

8 Maniac

iTrader: (1)

Yeah... hate to be an ***, but I really don't see how it was more expensive than you expected unless you didn't actually consider the costs. A car is such a major purchase, I don't really see a good reason to jump for a purchase before knowing all of the costs. As you seem to be finding out, you're going to end up loosing money with nothing to show for it. Hopefully it at least serves as a lesson learned.

If you can't afford it, then getting out would definitely be the best option, even if it results in fees and lost money. You'll only find yourself in more trouble if you overextend yourself for a longer period of time.

40w8

Yeah, aux fees should be looked into when buying, but hell, look at all the people that bought homes with a a low floating interest rate that could only go up in neighborhoods where they had no clue to the property taxes.

Mind boggling!

Huey52

iTrader: (2)

Don't get me started, again, on the [ultra liberal] Rep Barney Frank sub-prime rate, almost no qualifications req'd, mortgage fiasco he essentially forced on banks which was the catalyst to our ongoing financial woes in this country!

Anyway, OP lesson learned - always consider the "total cost of ownership" when budgeting a vehicle or home purchase.