Lost my job should i sell my type r

jcfishel

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props to all the mature and sensible feedback on this thread!

OP, I don't think I've seen anyone ask this yet but are you emotionally attached to this car in any way? I am married w/ 2 small kids but nothing short of an eviction notice could convince me to sell my other car.

My recommendation before you do anything would be to establish a timeline of just how long you can afford to tread water before the CTR becomes a liability, then stick with it. I've been in the same situation and the initial impulse was to drop non-essentials ASAP but selling a good reliable low mileage car is not always the right move. It will be important for interviews and once you get back on your feet. Is your CTR modded? Maybe you could sell off some parts to stay afloat a little while longer. Check if you're eligible for unemployment!! Ultimately you have to do what is best for your family but there are probably other things you could cut first before selling your car if finances become tight. You say you have 3 months saved up? Stick with that plan, for now. If it comes down to it, you should be able to sell it pretty quickly.

somewhat related sidenote: my father had a Mercedes sport coupe convertible when he lost his job in 1974. According to my mom he did not actually NEED to sell it at the time, but he felt so guilty driving it to the unemployment office that he got rid of it. He lived his entire life regretting that decision and today that car would be worth over $200k...
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TaruTaro

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Not sure if you have tax credit when trade with the dealer, i sold mine 2021 type r, 3 weeks ago, made a bit of money and have the 8000 tax credit for the next car i purchase there, imo now is the best moment to sell your car if you need the cash, second hand cars are in demand of this abnormal shortages in production, when the market is back to normal; used cars will not retain its value like now.
 

Bligity

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So I am in a bind I got offered 44k for my 2021 type r trade in kbb instant cash offer. I owe 30k on my type r so I would cash out 14k .I got the car at msrp fyi so I'm making out ahead big time. My payments are 575 per month and I have a emergency fund for 3 months.
14k will get you an older gen type r in cash and you wont have to worry about a car payment lol, def get rid of the car please consider that because sooner or later the economy will go down and you gonna be screwed since you only have a fund for 3 months. Just a suggestion.. I would hate to be in that situation, having to get rid of such a great car
 
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Vanct

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You might be able to buy some time if your lienholder allows you to defer payments, although interest might still accrue.
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