Personal Dilemma

[MoparRules]

Hi guys,
Here's the situation. I'm married, and have two children under 5. My wife and I make a good living, but have some credit card debt that I'm working to pay down prior to buying the car. Here lies the dilemma: My car is in C status and I'm expecting it by Nov-Dec and I'm torn on whether I should cancel my order just for another 8 months or so until I pay off the debt first, then can easily afford the car. I'm torn because I obviously want the car because I've been waiting for it for so long, but on the other hand, if I wait to pay off the debt and then buy the car, I'll be able to mod it much faster, whereas if I don't I'll probably be driving the stock SRT for quite some time. I'm also thinking as a family man too and always want to put my family first. I guess I'm feeling a little guilty about all of it. I'm also afraid if I cancel, what if they stop making them after this year due to the economy and I blow my chances. Are we all confident that these cars will be offered for at least 2-3 years, where I could be sure I'd be able to get an SRT-8 if I waited? Any advice would be appreciated. Thanks

MoparRules

[TX65]

Paying off credit card is just common sense and that comes from a banker who evaluates credit daily. If you are feeling guilty about ordering the SRT8, perhaps you should consider changing your order to an RT saving thousands on the front end. You will lower your payments and as result leave you with more discretionary cash to do the mods you want as you have the cash to pay for it without compromising your family responsibility.

I looked originally at the SRT8 and while slick, just wasn't worth almost $10,000 more especially with $2100 going out to the Feds in gas guzzler tax.

I just ordered my 09 RT with a 6 speed and while I have a few less ponies under the hood stock, it will still be fun and I have lots of cash to begin to make the car my own.

[WO51]

Look at all the people that rushed in and bought houses at over-inflated prices.... get rid of the debt before you buy a car. That's what Suze Orman would tell you.

[Nitelinger]

I was feeling kinda guilty myself about ordering a SRT. Like you I wonder if they might stop making them, or making so few, I wouldnt be able to get one. After thinking about it alot I say, I have been waiting 35 years to walk into a dealer to order a new SRT8 Challenger and thats what Im going to do. Im sticking with my MSRP deal and Im buying the car! (Im a Challenger/'Cuda nut from way back) My wife is ok with it BTW. I had a Black Challenger in 1981 when we met and had it for years. She loves the Challenger, I might be buying two! I think they will be making them for a few years, but with my luck if I dont get a SRT now they will stop making them AGAIN. Sorry I know Im not much help.

[Justinec101]

Suze orman would tell you that if you wanted to buy a gumball.

Anyway, if you have debt you shouldn't be buying an SRT much less spending money on mods for it.

You might want to watch this

SNL Skit: Don't Buy Stuff You Can't Afford

[WO51]

Originally Posted by Justinec101

Suze orman would tell you that if you wanted to buy a gumball.

Anyway, if you have debt you shouldn't be buying an SRT much less spending money on mods for it.

You might want to watch this

SNL Skit: Don't Buy Stuff You Can't Afford

LOL... you can tell I'm the wrong person to ask. I'm somewhat anal when it comes to cash flow and debt ratio. I always need to maintain solvency...

[JonW]

I agree that paying off your credit card debt should be your first priority. Not only does it make financial sense, but you won't be feeling guilty about buying the car and you'll get much more enjoyment out of it.

They're going to make the SRT8 for a couple years at least. They have to pay off the tooling involved, and as a premium car, they make more profit on it. You've waited 35 years, another few months won't be that bad. You're doing the right thing.

[atomicpunk]

I would pay off debt. I sold my C6 and ordered an R/T. I also just put new windows in my house. Paying off that debt is a priority and after it's paid, l'll still have some $ left over for a down payment on the R/T. In just a few short weeks without the C6 - and knowing I don't have a payment has been a relief. So I may just cancel my order and wait until next year when the prices come down. Good luck with your decision.

[dark side]

Originally Posted by TX65

Paying off credit card is just common sense and that comes from a banker who evaluates credit daily. If you are feeling guilty about ordering the SRT8, perhaps you should consider changing your order to an RT saving thousands on the front end. You will lower your payments and as result leave you with more discretionary cash to do the mods you want as you have the cash to pay for it without compromising your family responsibility.

I looked originally at the SRT8 and while slick, just wasn't worth almost $10,000 more especially with $2100 going out to the Feds in gas guzzler tax.

I just ordered my 09 RT with a 6 speed and while I have a few less ponies under the hood stock, it will still be fun and I have lots of cash to begin to make the car my own.

Good answer! I would like an SRT, but don't really need all the fancy bells and whistles. Get a Base R/T (27f) with track pak for under 31 and save $$$. I am making the last payment on my 04 mach one tonight, then I will take a break for a few months on car payments and get rid of some credit card payments, then If I feel ready, I will "place the order". If not, I'll wait a little more. In a few months, there may be some insentives out there to take advantage of and get a good deal.

[djwhog]

Good call, then when you can afford it add some mods and you will be a mid to low 13 sec car and what you need to be ahppy. Go for it.