Times are tough.......something's got to give

**slow4dr** · 10-06-2008, 12:16 AM

I am currently faced with a major dilemma. One of my vehicles has got to go away in order to stay financially sound.

So since the Pontiac hasn't sold this has put me in a bind financially since that money was to go towards paying off the Magnum. Now I'm paying $500(insurance + payment) a month on a car that gets driven maybe 100-200 miles a month. I can't imagine trying to sell a car that gets 17-20 mpg with current gas prices.

The Chieftain has been for sale for damn near a year now and only 2 people have come to look at it. I've had it on ebay twice, craigslist countless times, and it's been in the autotrader since March, not to mention dozens of car shows. I'm starting to get the feeling that it was a bad decision to buy something other than a Bel Air.

I am leaning towards donating the car to charity at the end of this year and using it as a write off. This seems to be the easy way out but not the best return on the investment. If it means we can keep the Magnum then it may just be the only way.

We all know the market is dogshit right now and I can't wait for it to turn around so I must do something drastic before the year is over. I hate to think what will happen to the Nova if something doesn't happen soon.

FYI: We still have the '97 Dodge Ram that the wife absolutely loves to drive so she won't be left without wheels.

decisions > me

**Xavier** · 10-06-2008, 12:24 AM

Don't get rid of the Mag... gonna be a rare car someday.

**slow4dr** · 10-06-2008, 12:30 AM

When we bought the Magnum the wife and I joked about it being my unborn son's first car. The wife is sick of me changing cars all the time so she made me promise we would keep this one for a LONG time. A lot has happened since then......

The Chieftain is much more rare than the Magnum but unfortunately it isn't worth half what it's Chevy counterpart is.

**Broken5hift** · 10-06-2008, 09:12 AM

would your work buy the chieftain? they could finish it and bring it to the shows you guys go to?

**andru1313** · 10-06-2008, 09:15 AM

If you dont' drive the car much why do you carry full ins on it? Why can't you change your policy to a low milage one. Like under 5k per year?

**BoostinChick** · 10-06-2008, 09:17 AM

Quote:

Originally Posted by andru1313

If you dont' drive the car much why do you carry full ins on it? Why can't you change your policy to a low milage one. Like under 5k per year?

Or change it to limited liability that's the main reason my GSX is like $30 some a month. If you are not driving it much then the less likely you will get into an accident with it. If I ever get into an accident with the GSX I will have to just make sure I am not the one who caused it.

**TTsupra911** · 10-06-2008, 09:21 AM

Quote:

Originally Posted by BoostinChick

Or change it to limited liability that's the main reason my GSX is like $30 some a month. If you are not driving it much then the less likely you will get into an accident with it. If I ever get into an accident with the GSX I will have to just make sure I am not the one who caused it.

if he is still making payments then the vehicle will have to carry full insurance for the remainder of the loan. The best bet is the "pleasure vehicle" route. Although I'm sure Jason would have already done this.

**raven** · 10-06-2008, 09:22 AM

Quote:

Originally Posted by TTsupra911

if he is still making payments then the vehicle will have to carry full insurance for the remainder of the loan. The best bet is the "pleasure vehicle" route. Although I'm sure Jason would have already done this.

yup, he's right on that one.

**TehDylhole** · 10-06-2008, 09:22 AM

Quote:

Originally Posted by TTsupra911

if he is still making payments then the vehicle will have to carry full insurance for the remainder of the loan. The best bet is the "pleasure vehicle" route. Although I'm sure Jason would have already done this.

Depends on state...could be entirely different in CA...freaking PA ins. laws.

**BoostinChick** · 10-06-2008, 09:23 AM

Quote:

Originally Posted by TTsupra911

if he is still making payments then the vehicle will have to carry full insurance for the remainder of the loan. The best bet is the "pleasure vehicle" route. Although I'm sure Jason would have already done this.

ALL of his cars have loans against them?

10-06-2008, 12:16 AM	#1 (permalink)
slow4dr SOT Moderator Join Date: Nov 2006 Location: SoCal Posts: 9,690	Times are tough.......something's got to give I am currently faced with a major dilemma. One of my vehicles has got to go away in order to stay financially sound. So since the Pontiac hasn't sold this has put me in a bind financially since that money was to go towards paying off the Magnum. Now I'm paying $500(insurance + payment) a month on a car that gets driven maybe 100-200 miles a month. I can't imagine trying to sell a car that gets 17-20 mpg with current gas prices. The Chieftain has been for sale for damn near a year now and only 2 people have come to look at it. I've had it on ebay twice, craigslist countless times, and it's been in the autotrader since March, not to mention dozens of car shows. I'm starting to get the feeling that it was a bad decision to buy something other than a Bel Air. I am leaning towards donating the car to charity at the end of this year and using it as a write off. This seems to be the easy way out but not the best return on the investment. If it means we can keep the Magnum then it may just be the only way. We all know the market is dogshit right now and I can't wait for it to turn around so I must do something drastic before the year is over. I hate to think what will happen to the Nova if something doesn't happen soon. FYI: We still have the '97 Dodge Ram that the wife absolutely loves to drive so she won't be left without wheels. decisions > me __________________ Last edited by slow4dr; 10-06-2008 at 12:18 AM.

10-06-2008, 12:24 AM	#2 (permalink)
Xavier SOT Member Join Date: May 2008 Location: Coatesville, PA Posts: 1,043 gXboxLive Leaderboard: 9^th	Don't get rid of the Mag... gonna be a rare car someday. __________________ Putting the sensual back in Non-consensual.

10-06-2008, 12:30 AM	#3 (permalink)
slow4dr SOT Moderator Join Date: Nov 2006 Location: SoCal Posts: 9,690	When we bought the Magnum the wife and I joked about it being my unborn son's first car. The wife is sick of me changing cars all the time so she made me promise we would keep this one for a LONG time. A lot has happened since then...... The Chieftain is much more rare than the Magnum but unfortunately it isn't worth half what it's Chevy counterpart is. __________________

10-06-2008, 09:12 AM	#4 (permalink)
Broken5hift SOT Administrator Join Date: May 2006 Location: 345T C045t Posts: 26,263 gXboxLive Leaderboard: 27^th	would your work buy the chieftain? they could finish it and bring it to the shows you guys go to? __________________ SOT - .... I dunno, i wasnt really paying attention....

10-06-2008, 09:15 AM	#5 (permalink)
andru1313 SOT Buff Daddy Mod Join Date: Aug 2007 Location: in Sin Posts: 2,295 gXboxLive Leaderboard: 71^st	If you dont' drive the car much why do you carry full ins on it? Why can't you change your policy to a low milage one. Like under 5k per year? __________________

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