Has anyone successfully gotten out of an upside-down car loan?
Aside from the inflated loan amount, if the car keeps running for 2, 3, or even 5 years that’s pretty good! TLDR; if the car holds up, would OP eventually get to a place that the car’s performance “balances out” the upside down loan? Hope this makes sense!
Upside down 10k from bad car deal. Best way to tackle?
2022年6月19日 · Enjoy the car and look at it as an investment to improve your credit and have the mobility needed to work. Keep paying down the car. Don’t worry about value from another lot or something online now. Just use car to drive/ get to work as you planned and pay it down loan to reduce interest. You should drive/ keep this car for as long as possible.
Upside down on car loan? - What do I do : r/personalfinance
2024年6月7日 · Meanwhile, I spent over $3,000 on the rental car, which was pretty much my entire savings. She then told me I was SOL and had to get my own car, which is what lead to this situation. Very quickly I had used up all of my savings on a rental car and down payment/rent for an apartment, and have been struggling since.
UPSIDE DOWN ON CAR LOAN : r/askcarsales - Reddit
2023年9月5日 · My question is why so much of a down payment if you subtract what the Jeep is worth now from the sale of the new car will be $2,000. Then add $12,000 (remainder of the current loan) to the new car which will be $14,000 before taxes, fees, and new interest loan.
Best way out of an Upside Down car loan? : r/personalfinance
2023年2月21日 · I'm unclear on what being upside down on your car loan has to do with the mortgage you are seeking. Many people get mortgages while upside down on their car loans. But paying down the principal for the car loan is absolutely your best option because I doubt that you will get a significantly lower interest rate on a refinance.
Best way to get out of upside down car : r/askcarsales - Reddit
2022年6月2日 · The other thing, you don't sell your car to a dealer who then has to sell the car to a consumer. You sell a car direct yourself. That will yield a lot more money. Lesson: buy an amazing car with everything you want and can easily afford 2-3 years old, drive it for a decade…sell privately….repeat.
Horribly, horribly upside down on my car loan. : r/askcarsales
2023年10月16日 · 19000 divided by 72 is $260 per month at 0% interest. On top of that, you would need a $60,000 car at least to absorb $19,000 of negative equity. Your are by definition the owner of this car for the forseeable future. Can you pick up extra shifts at work and/or get an extra job to bring down the negative equity?
Thoughts on trade ins with NEGATIVE EQUITY? : r/askcarsales
You may be “upside down,” but if being upside down to get a new car saves you $300/month you may be able to get right side up on your vehicle FASTER than staying with it. It might take some patience shooing around, and finding the specific car you’re looking for that meets your goals of saving money; a salesperson’s interest is going to ...
Upside down on car loan : r/personalfinance - Reddit
Sounds like he's $8-9k upside down now. He could try to obtain a personal loan for the $8-9k to get the car loan back to a point where he could sell it and break even, and then work on paying down the personal loan. He might have to look at a 2nd job or something like that to make some extra money in order to pay down the negative equity. The ...
Upside down car loan-what options do we have? : …
2023年12月28日 · He currently owes $34k, but KBB values it between $19k-22k It’s a 2019 Audi A3; 48k miles-mint condition, obviously not going to get payoff I also own a vehicle which is more so our family car that is at current market value. 2016 Honda CR-V; 118k miles- payoff $12k; KBB: $11k-13k We don’t mind going down to one vehicle, luckily public ...