Bought a car that I no longer need

We want to hear the WHOLE STORY

quote:

---

You don't have many options other than just keeping the note or eating the loss.

---

Which the loss will be YUGE.

Only way you'll come out even (maybe) is by selling it yourself.

quote:

---

I bought a car for my 16 yo daughter

---

Me too, last month. It cost me $2500.

quote:

---

Yup my mistake, it is a boy for sure. I tried to bit her something to get her through College.

---

As someone who is not a parent yet. I do not look forward to this

quote:

---

, it is a boy for sure.

---

But do you know who the father is? Anyways, congrats!

Did you find a used condom in it?

It's probably worse if you didn't.

(no message)

you may want to call around to some large dealerships and see if someone can sell it out on consignment for you. Possibly the place you bought it, you just continue the payments until it's sold. Something like that needs to be financed by a large store. It's unlikely anyone is bringing their own cash or financing to your door step unless it's about 60% of the finance value.

15k is a bad price range for a 16 y/o. For one reason she may not even go to college. For another, by the time she's out of high school she'll probably want something else. Generally younger people want to change vehicles often if possible. If she's spoiled enough to receive a 15k vehicle for her first car, she's spoiled enough to complain about it when Jonnies $500 car's door dents hers. I would exercise extreme caution b/c I deal with people every week who's 16 year old just totaled out a vehicle. If she's that irresponsible with a $15k machine, or did something irresponsible, expect something bad to happen when she does start driving again.

Generally what I see and what I'm most familiar with is mom or dad has saved the money or taken it out of retirement to purchase a cash vehicle which is around 3 to 10% of their annual income (I would just guess by talking to them). The way my sister and I and most my friends came up was hand me down vehicles from the parents, that the parents had financed themselves when we were little. They kept them around for that purpose. At 16 I had moms 15 year old corolla. I did good with it , so at 17 I got dads 12 year old silverado. I did good with that so at 18 I got dad's vintage jeep that was older but bad assyer. I burn the clutch out mudding so he took it away and put me back in the silverdo. When I was 19 I started working and he co-signed with me on a 15k car that I made payments on.

Keep it, drop insurance, and let it sit in your driveway as a constant reminder to her how she fricked up.