2017 Fiat Spider 124 Abarth

Just helping a friend or a friend so don't grill me on this lol

Posting for a friend of my boss,

"I have a Credit Union Loan on the car. It is assumable with good credit. I put $6,006 down on the car purchase. This version of the Fiat 124 Spider (Abarth) with a manual was sold at Sticker price. There are a limited number available in the US market. Most are Automatic. The payments are $494.11 on the 30th of each month.

You can own this car by just assuming the loan and paying any State of Illinois transfer title and private sale tax.

I will cover this December installment. That would be the 9th payment of a 72-month loan. The interest rate is 6.99%.

The car has 7400 miles. I attached a copy of the Window Sticker so you can see it has The very hard and sought after $3,995 Option package."

I'm assuming he wants someone to take over the payments. Loan balance is $25,800

Delivery 2017 Fiat 124 Spider Abarth Edition (002) by Maykel Enriquez, on Flickr

2017 Fiat Spider 124 ABARTH Window Sticker_Page_1 by Maykel Enriquez, on Flickr

2017 Fiat Spider 124 ABARTH Window Sticker_Page_2 by Maykel Enriquez, on Flickr

If interested or want more pictures please PM me and I will forward you his contact information.

Car is in Schaumburg, IL

Click to read more...

 

[jason05gt]

Just posting some feedback, but provide a selling price. I’d assume most people would want to take out their own loan as 6.99% for 72 months is a pretty bad loan term

 

[Bru]

I'd be trying to get rid of it too if I realized I'd be paying over $40,000 for that car.

 

[ViseVersa]

Thanks Jason, well i'm not sure on the price because he never mentioned cash price. Only loan take over. I can only assume the remaining balance on the car is somewhere around 25k if we take into consideration he paid sticker price plus tax, license, and fees and subtracting the down payment he put down plus what he has already paid on it to date. For anyone who might be interested I would provide them with his contact information so they can better arrange something.

 

[ViseVersa]

I'd be trying to get rid of it too if I realized I'd be paying over $40,000 for that car.

Not sure if that's bad or not lol. But he does mention it's one of a few (not sure how many exactly) with these particular options so it would make it a little rare/valuable I would think.

 

[Yaj Yak]

Thanks Jason, well i'm not sure on the price because he never mentioned cash price. Only loan take over. I can only assume the remaining balance on the car is somewhere around 25k if we take into consideration he paid sticker price plus tax, license, and fees and subtracting the down payment he put down plus what he has already paid on it to date. For anyone who might be interested I would provide them with his contact information so they can better arrange something.

balance is going to be higher than that.

 

[EmersonHart13]

FS Thread Rules:

* MINIMUM POST COUNT - You must have at least 10 posts to post to the FS forum. If you have been a member for over two years, the minimum post count does not apply.
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http://www.thechicagogarage.com/forum/sale-automotive/53-buy-sell-section-rules-please-read.html

Price is required as well as location

 

[ViseVersa]

balance is going to be higher than that.

Taking into consideration the APR then yes, sorry I didn't take that into consideration on my 25K guess.

 

[Yaj Yak]

yeah i can't believe a new vehicle left a dealer at sticker price and with a 7% interest rate.

 

[ViseVersa]

http://www.thechicagogarage.com/forum/sale-automotive/53-buy-sell-section-rules-please-read.html

Price is required as well as location

Working on getting a price, will Update once I hear back from him. Will update location.

 

[ViseVersa]

Well doing a little math with his loan length and payments it looks like balance is around $31,xxx

 

[Jon01]

yeah i can't believe a new vehicle left a dealer at sticker price and with a 7% interest rate.

Considering the dealer probably saw a sucker and raked him over the coals for max kickback on the loan terms it's not that surprising.
They will ALL happily fuck you in the ass to make another dime if you're dumb enough to let them.

 

[EmersonHart13]

#PEGGING

 

[Bob Kazamakis]

I’m having a hard time finding a manual abarth for over $30k. Most are in the 25-26k price used.

 

[ViseVersa]

I’m having a hard time finding a manual abarth for over $30k. Most are in the 25-26k price used.

Yea that's what I found out too, so he's screwed pretty much lol. Just thought I try anyways.

 

[blakbearddelite]

Even with the down payment and principle payments made, he's upside down on the car. He'll have to eat the difference if he wants to sell.

 

[2QuikTA]

$500/mo for 72 months on a fiat?

OUT

 

[Mike K]

Sounds like he went to the same guy that hooked up Hank Hill. MSRP and not a dollar more.

 

[bikrboy128]

7% for 72 months. holy FUCK that's terrible

does he have gap coverage? might be better off driving it off a cliff

 

[ViseVersa]

7% for 72 months. holy FUCK that's terrible

does he have gap coverage? might be better off driving it off a cliff

lmao might not be a bad idea

 

[ViseVersa]

Bump, loan balance is $25,800 by the way

 

[The Beast]

Won't the dealer buy it for $25800? Or even try car max

 

[Dan00Hawk]

Won't the dealer buy it for $25800? Or even try car max

Typically, CarMax right now is not putting a lot of money on sports cars, rear wheel drive, or convertibles due to being the middle of winter and very low demand. Best time to get a higher appraisal on those are in the spring.

 

[ViseVersa]

Considering that this is how much they go for on average in the dealer I would think they wouldn't offer him that much if they can't make any money off of it.