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Almost two weeks ago my wife and I were sitting down to breakfast, and she tells me she wants me to trade in my 12 R/T for a Hellcat. She will make half the payments. At first I declined, because of money. However, it was a tempting offer and she persisted that we at least look at the numbers. So, I relented. We drove the 90 miles down to the dealership, I test drove a beautiful black on black Hellcat...and don't really remember much until I was sitting there going "HOLY SHIT I HAVE A HELLCAT!" Suffice to say, in this mental state, I probably didn't get the best deal. Payments would suck, but be doable. Wasn't much room for anything else. Honestly I shouldn't have done it. Wife, wasn't real happy with the numbers, and was real unhappy with the insurance hike. She regretted even bringing up the notion at breakfast.

Next day I am informed by the bank that they are not financing the car. The bank even went so far as to tell me to take the car back. So I did, after hours of trying to reach the dealership for help and not getting a call back. When I did get to the dealership, they of course gave me the run around, told me the bank can't decline financing...blah blah blah. So began a week of getting the run around, getting lied to by both the dealership and the bank, and outright rudeness. Meanwhile, I have a Hellcat in the garage that I am not driving, because I don't even know if it is mine! If I had to turn it in, I wouldn't be liable for mileage, but I would be for any damage. After a week of this, I was angry and frustrated and just wanted to give the damn Hellcat back, get my old R/T back, and be done with the whole situation.

Well, one week to the day I drove off the lot, the bank and the dealership indivudially call me and say the deal went through. The bank mysteriously changed their mind on the deal....(I wonder what the dealership did to incentivize them?) and the car is mine. Okay, cool. Car is mine, time to start paying off this expensive ass loan and enjoy the car.

My wife looks at me after I get off the phone and tells me that we can't keep the car. Can't afford it any more. She then proceeds to hand me a postive pregnancy test.

Yup. Baby on the way changes everything.

So, in summary, I stupidly bought a Hellcat I could barely afford, didn't even get to drive it for a week, and now I have to sell it for what I owe (impossible?) or trade it in on a cheaper car and lose my ass on the deal because I am about to be a daddy.

Any advice anyone can give me?
 

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2012 RT Redline Tri Coat
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That is rough on the financials, but congratulations on becoming a father. I would trade all of stuff for my kids well being. Your going to lose a lot of money selling it afterward, maybe speak to the owner of the dealership directly and see if you can work out a deal.
 

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2018 Challenger R/T Plus Shaker
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I say keep the car and don't give it up unless all else fails. It's too late to tell you not to buy it. You will take a financial hit that is the equivalent of throwing money away. Unless you will be so down & out that it is hopeless there will be ways to have the car and child too. If the car is sold you probably won't get another one like it for a long time if ever. Sell some of your "toys", have stay at home type vacations, you'll get tax breaks from having another dependent etc. You can always make more money if you really want too. When I was having a hard time making ends meet, many years ago, I got a part time job in the fishing department of a large sport store for 3 years and also begged for all the overtime I could get at my maintenance mechanic job. They gave me all the dirty work the other guys didn't want to do even for overtime. Roof repairs, painting, floor patching, boiler cleaning etc. But I did keep out of debt (cars & house only), kept the best toy (fishing boat) and ended expensive hobbies... remote controlled helicopters and scuba diving. I don't know your lifestyle but if you got the loan you can pay it.
 

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Tough spot, but I would lean toward cutting your losses. Trading it in and rolling over a gap will still be cheaper in the long run, especially when that baby is in Daycare (Daycare > Hellcat Payments).
 

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Wow.....talk about an emotional roller coaster. Congrats and I'm sorry all at once. Me personally, I would keep the CAT......enjoy it for now and sell it outright in about 9 months......then buy a nice new minivan!
 

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Mopartial to Challengers
2013 Dodge Challenger R/T Classic
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Advertise it online and just look for someone to take over the payments. Maybe even offer to make the first payment for a prospective buyer as an incentive. You will take a loss, but that's inevitable at this point. Will you be able to get your R/T back?
 

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Slower Traffic Keep Right
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I am going to look at from a different perspective... you have 8 months to plan here... roll with your original plan.... in the meantime, keep the miles low, but enjoy the car in fair weather... look to see what trade in will be in a few months., maybe you can sell it privately.. maybe you pick up a little extra income in the next few months... who knows.. but take it easy... you will have enough time to worry later... stressing over it will not improve the options... put your faith to work for you... you might be surprised what can happen in a few months...

For example... if the car is not a daily driver... contact Grundy or Hagerty... get an agreed value policy for pennies on the dollar....

and Congrats DAD!!
 

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2015 sxt/rt 5.7 with scat pack kits 1 &2
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keep the car and trade in the wife:D jk good luck with 2 babies
 

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Congrats being a Dad ! not sure if it's your first one ? look at it this way cars come and go,but no one can ever
take being a Dad away. As 6.1SilverFox said no one knows what the future will bring. Best of luck with th H.C
 

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Well, to me the real Crux is in your thread title...'nor do I even want it'. I always thought there was something in a new car contract that you could back out, like a grace period. Maybe that's a state by state thing, but I seem to remember every new car I got, that was explained to me during the signing process. It obviously would cost something but less than holding on, making payments and paying insurance.

Here are two wildly differing answers to the question.... definitely worth looking into but it does sound like your dealer is a hard ass

Screenshot_20190402-210649.png
 

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Congrats on the baby news! As for the CAT, only you and your wife can make that decision my friend. Whishing you all the best on all accounts!
 

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Unless you have no health insurance I don't get why you can't afford it because a baby is on the way. They don't really cost that much for at least 5 years. You should have it paid off by then.
I agree little kids are cheap it is when they get older and into sports, musical instruments, cars stuff like that. My boys are 20 and 23 and the last few years for university have cost a ton. This is why I still have my 2009 R/T and not a hellcat :) Don't sell the car I always regretted selling my factory ordered 1989 IROC-Z when the wife got pregnant. I should have kept that car and bought a cheap family car but the wife convinced me to sell it.
 

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Really only a decision you and the wife can make. Life got in the way for us when my daily driver went bust and I needed to trade it with my '69 Camaro that both me and my wife worked on for (of all things) a Ford Escort!
It took 25 years but we found our R/T Challenger!
Just Sayin'.
 

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2015 sxt/rt 5.7 with scat pack kits 1 &2
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^^^ never to old to raise hell ,and you can always lower heaven:cool:
 
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