Re: Just bought a car. Can I take it back??
 

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Go to the dealership and explain to them you have to return the car because you can't afford it.... offer them ~$500 for their trouble, and promise to buy a car from them when you can afford it which will likely be very soon.

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It's worth a shot. At worst I'll be humiliated. However, I'm guessing this happens quite often (at least I'm hoping there are others like me).

Re: Just bought a car. Can I take it back??
 

Life is a harsh teacher. First she tests, then she teaches.


Learn your lesson over and over again every month when you write that check out to BMW.

Re: Just bought a car. Can I take it back??
 

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Go to the dealership and explain to them you have to return the car because you can't afford it.... offer them ~$500 for their trouble, and promise to buy a car from them when you can afford it which will likely be very soon.

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It's worth a shot. At worst I'll be humiliated. However, I'm guessing this happens quite often (at least I'm hoping there are others like me).

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Gave it a try to no avail. At least I wasn't as embarrased as I thought I'd be.

Re: Just bought a car. Can I take it back??
 

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I find it fascinating that you could write a check for $9k (assuming it's good) but you can't afford payments on a $14k loan.

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Yeah, the check is good. My rent is really high and combined with other bills = me being in over my head. I could have had less of a down payment and financed more I guess but I was thinking the way I did it was the more fruitful way.

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Oh OK. That's cool. I figured that the typical American had $500 in the bank and $4k worth of bills every month, so found it weird that you'd acquire $9k with a fairly small (within a few hundred of your previous nut) income and a tendency to impulse buy cars.

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Is this accurate? Very sad if true.

Re: Just bought a car. Can I take it back??
 

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Life is a harsh teacher. First she tests, then she teaches.


Learn your lesson over and over again every month when you write that check out to BMW.

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This reminds me of a case that was the newspapers ten or fifteen years ago. As part of a sentence handed down to a drunk driver who had killed someone, a judge required the drunk driver to write a $1 check every week to the family of the person the driver had killed. I don't know if that turned out to be enforceable or not, but I thought it was pretty wicked.

SpaceAce

Re: Just bought a car. Can I take it back??
 

If it makes you sound any better, it sounds like the car will be reasonably comfortable when you're living in it.

Re: Just bought a car. Can I take it back??
 

I think the bigger problem here is that the car is worth around $18k (edmunds TMV, 325ci coupe, 50k miles, average condition), and you paid 23k.

There's obviously a little bit of a difference because of tax/other fees, but you still probably overpaid by at least 3-4k. Going private instead of through a dealer would have saved ANOTHER 3k or so, putting you at around 6000 over what this car should have cost.

Re: Just bought a car. Can I take it back??
 

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Gave it a try to no avail. At least I wasn't as embarrased as I thought I'd be.

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change the theme of thread in order to feel better. turn it into a brag and post pics of your ride.

Re: Just bought a car. Can I take it back??
 

Sell it private party and eat the difference? Chalk it up to a life lesson?

Re: Just bought a car. Can I take it back??
 

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I find it fascinating that you could write a check for $9k (assuming it's good) but you can't afford payments on a $14k loan.

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Yeah, the check is good. My rent is really high and combined with other bills = me being in over my head. I could have had less of a down payment and financed more I guess but I was thinking the way I did it was the more fruitful way.

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Oh OK. That's cool. I figured that the typical American had $500 in the bank and $4k worth of bills every month, so found it weird that you'd acquire $9k with a fairly small (within a few hundred of your previous nut) income and a tendency to impulse buy cars.

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Is this accurate? Very sad if true.

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Very sad you didn't realize that this is so true [img]/images/graemlins/frown.gif[/img]

I thought most people learned this in middle school. I guess not though, which is why it continues to happen.