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Owe more than it's worth... I'm upside down and I can't get up!

1160 messages,  Last post on Oct 22, 2009 at 7:11 PM

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What is this discussion about? Car Leasing


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#1049 of 1160
Re: help [a5driver] by volvomax
Sep 03, 2007 (9:16 am)
Reply

Replying to: a5driver (Sep 02, 2007 5:57 am)

thanks. why isnt that dealer lease cash listed on the incentives page in edmunds? i noticed the same with the audi dealer money.
 
Because they aren't rebates. They are money paid to the dealer.
#1050 of 1160
Re: help [cccompson] by joel0622
Sep 03, 2007 (11:25 am)
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Replying to: cccompson (Sep 01, 2007 5:55 pm)

We had a guy in here Saturday night who had a 2005 M3 BMW. He owes $52600 on it. We hit it for around $35K.
#1051 of 1160
Re: help [joel0622] by cccompson
Sep 03, 2007 (11:49 am)
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Replying to: joel0622 (Sep 03, 2007 11:25 am)

Who's dumber, the owner of the car or the lender?
#1052 of 1160
Re: help [joel0622] by british_rover
Sep 03, 2007 (12:44 pm)
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Replying to: joel0622 (Sep 03, 2007 11:25 am)

WTH was he going to trade a M3 in on?
#1053 of 1160
Re: help [british_rover] by shipo
Sep 03, 2007 (1:00 pm)
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Replying to: british_rover (Sep 03, 2007 12:44 pm)

A used Civic.
#1054 of 1160
Re: help [british_rover] by joel0622
Sep 03, 2007 (1:24 pm)
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Replying to: british_rover (Sep 03, 2007 12:44 pm)

WTH was he going to trade a M3 in on?
 
An F150. Actually I think he was trying to trade it in on a lower payment.
#1055 of 1160
Re: help [joel0622] by roadburner
Sep 03, 2007 (5:49 pm)
Reply

Replying to: joel0622 (Sep 03, 2007 1:24 pm)

WTH was he going to trade a M3 in on?
  
An F150. Actually I think he was trying to trade it in on a lower payment.

 
Were the poor guy's lobotomy scars very obvious?
#1056 of 1160
Re: help [joel0622] by bolivar
Sep 03, 2007 (10:08 pm)
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Replying to: joel0622 (Sep 03, 2007 1:24 pm)

His $900,000 house's variable loan rate is probably going to increase by 50% in October. Gotta cut back somewhere.
#1057 of 1160
Good God!!! by lemko
Sep 04, 2007 (5:38 am)
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Are people fierociously stupid with their money or what? Does a BMW M3 even cost $52K to start with? Maybe he traded a 745i after 18 months to get a lower payment with an M3. He's had the M3 for 18 months and wants to trade down to a F-150. I bet in 18 months, he'll be trading his F-150 with $75K negative equity for a Kia Rio in order to get a lower payment.
 
Flash forward to 2038, his widow standing next to his grave, "He lived a long, long time. Darn near almost paid off the Kia."
#1058 of 1160
Re: Good God!!! [lemko] by im_brentwood
Sep 04, 2007 (5:56 am)
Reply

Replying to: lemko (Sep 04, 2007 5:38 am)

Does a BMW M3 even cost $52K to start with?
 
If you don't get too many options... one with a sticker price that low may be tough to find tho.. they usually stickered around $55k or so... easy to hit $60k with a coupe, especially with Nav and SMG... you could get convertibles close to $70k if memory serves.. if you throw in 19s, HIDs, Nav, SMG, etc.. assuming it's a loaded ragtop and he bought it new and did longer term financing, oh yeah.. he's going to owe plenty on it.

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