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Smart Shopper 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
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
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I have a lease it ends in 8-2010 i want to keep this auto now when its time take it back do any of you thinks its in the best interest of me to get a new one i am not leasing again though. With the deals going on now & the economy the way that it is. When 2010 comes around will i be in a position to get a good deal thats all guys thanks. .
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Replying to: mookie14 (Dec 05, 2008 11:35 am)  Hmmm, I think I have a better chance of predicting the 2010 Kentucky Derby winner.  Best regards, Shipo |
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I have a relatively expensive german car that I can afford the payments on. Got it at 2.9% interest in 2007. I'd like to trade it in for something cheaper because in today's economy, I just don't feel comfortable with a payment that exceeds $750/month. I'm trimming costs in other areas of life...is it conceivable to think that one could trade in a BMW for a Honda and have a lower payment (without sinking in $10k to make it work)? Have any of you "traded down"? |
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Replying to: phollie (Mar 14, 2009 10:00 am) In this awful economy, plenty of people are trading down. For many, it's a sensible way to manage expenses. |
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Replying to: phollie (Mar 14, 2009 10:00 am)
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Replying to: volvomax (Mar 14, 2009 2:42 pm) |
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Replying to: phollie (Mar 14, 2009 10:00 am) I'm trimming costs in other areas of life...is it conceivable to think that one could trade in a BMW for a Honda and have a lower payment (without sinking in $10k to make it work)? Have any of you "traded down"? Sure, you give me your BMW and I will give you my Honda. You pay your BMW rate, and I will continue paying my Honda rate. Deal? Honestly, if you can afford to pay for it, keep paying. Don't fall for a knee jerk reaction. If you really want out of it, be prepared to lose a shirt in the deal. No one really wants a really expensive car right now. And people who want them, they can buy brand new one from the dealer without hassle of private transaction. Good luck. |
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Don't confuse the value of the collateral with the terms and conditions of the debt. One is not dependent on the other. They are two different issues. If the value of the collateral diminishes, it does not affect the issue of honoring the note. And if the collateral increases in value, the note is not affected either. Bottom Line: Honor your debts and pay off the balance. |
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Replying to: phollie (Mar 14, 2009 10:00 am) If you have good credit FMCC will carry the advance for you. I did some quick ball park figuring. If you are $10K hooked you could look at a $24K Fusion and drop your note $250 a month on a 0% loan. |
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Replying to: joel0622 (Apr 04, 2009 8:25 am) Ford Fusion is made in Mexico providing jobs for the Mexicans and ther suppliers. Honda Accord designed and built in the good ole' USA out of USA supplied component. An all american car. Interestingly, Mazda 6, Ford Fusion's sister is made in Detroit at a Ford plant...
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