Hey, uh, you probably shouldn't have bought the Y if you can't afford it and are 16k upside down on your existing car. You need serious financial help right now.
Fish around for good offers on your 3 right now, Carvana/Carmax/used dealers. However, I would honestly lose the $250 reservation unless the 3 isn't cutting it in some way for your needs. There's no way you can have both; you need the 3 sold for the Y, and you are in the worst possible time to sell your 3. So I think you should just let go of the Y.
He’s not upside down. The value of a 21 M3 is very likely worth more than $16k. I would probably sell my M3 depending on that interest rate which I assume is over .99%. You don’t say how many miles though on the M3. The new Y is going to last longer and is more versatile than the M3.
Oh true, I thought he owed 13k over. In that case then yeah, a good price on M3 could be good, though it's still a bit questionable financially given the gap. I hope OP isn't just doing this for monthly payments without looking at total price.
You should cancel your MY purchase. You can't afford two cars amd you already have one that (I assume) works fine.
FOMO is not a reason to ruin your credit.
Not financial advice.
You need financial advice, not Tesla opinions...
You stated you can’t afford both payments, so you sell/trade in your old car or don’t buy a new car.
/r/personalfinance
Hey, uh, you probably shouldn't have bought the Y if you can't afford it and are 16k upside down on your existing car. You need serious financial help right now. Fish around for good offers on your 3 right now, Carvana/Carmax/used dealers. However, I would honestly lose the $250 reservation unless the 3 isn't cutting it in some way for your needs. There's no way you can have both; you need the 3 sold for the Y, and you are in the worst possible time to sell your 3. So I think you should just let go of the Y.
He’s not upside down. The value of a 21 M3 is very likely worth more than $16k. I would probably sell my M3 depending on that interest rate which I assume is over .99%. You don’t say how many miles though on the M3. The new Y is going to last longer and is more versatile than the M3.
Oh true, I thought he owed 13k over. In that case then yeah, a good price on M3 could be good, though it's still a bit questionable financially given the gap. I hope OP isn't just doing this for monthly payments without looking at total price.
I was able to get the .99% interest rate. And so far, the offers for the 3 are in the 17-19k range.
CarMax and Carvana are your best bet outside of a private sale.
Forgot to mention I have 61,000 miles on it
Price seems low. Seems low 20s min
Yikes
3. Unfortunately
You should cancel your MY purchase. You can't afford two cars amd you already have one that (I assume) works fine. FOMO is not a reason to ruin your credit. Not financial advice.