I'm looking for some input from you guys. I have an 07 Sahara that I took a pretty good hit on. I had purchased a commander just prior to the release of the new JK's. I hated the comander for ovious reasons and needed an unlimited as soon as I saw them. I traded in the comander with about 10,000 miles on it....big hit but I love my JK. I have a pretty high monthly payment and the JK is my daily driver. I love wheeling it but the bank note balance is always in the back of my mind. If I was to try and offload the JK, I would probably wind up owing about $9000 more than the trade in value. Big mistake financiallylive and learn I guess. I would have really loved to have picked up a Rubicon but it was going to be a long wait. You guys that are trading in 07 and 08 X's and Sahara's for them...how are you making out with the trade ins?

So...what are my options?...I have considered trying to get rid of the JK and buying a TJ to build. It would wind up being an expensive TJ with the balance I would owe on the JK...but nowhere near as much as I owe on the JK. Its an 07 unlimited Sahara with about 27,000 miles on it.

I value the opinion of you jeepers. I'm not looking for someone to solve this problem...just some advise...Thanks, Mike

 

Keep the JK until it's paid for... you will just keep growing the debt snowball if you try to trade it off now.

 

What he said, keep the JK

 

thanks...I think that the most logical choice..and its what I really want to do anyway. Does anybody have any expirience with gap insurance? I use Geico and they told me they do not offer it.

 

I have never bought it and never will, just another way to seperate you from your money... JMO

 

Keep the JK. I've been in that crazy cycle and now I'm stuck with an Xterra as my second vehicle and am about as upside down as you are now. Only bad thing about the Xterra is that it is 2wd. Oh well; its my wifes car. It took me a couple of vehicles before I realized I needed to stop the madness. As far as Gap insurance goes. I'm surprised you even have a choice on wether or not to have it. My last 2 vehicles were upside down and there was no way they would let me take them unless I had Gap ins. It was mandatory that I had it. Sure its more money out of pocket but at least the car is paid off if you total it while you still owe more than its worth. Like I said keep the JK and enjoy it.

 

DITTO,

 

Your financial institution should offer gap insurance....

 

Agree with the others, stick it out, another change will only further the cycle of being upside down. As for your JK, you can always look to mod it and have it be highly capable (which it is in stock form anyways). I don't know what your APR or your credit situation is, but you may be able to refinance your auto loan and get some relief. Probably tough to do right now, but maybe worth a look.

 

thanks for the responses..credit is pretty good. I am going to double down on the payments for a while and see if I can start to kill this thing.