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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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#1109 of 1160 Re: Lowering payments [phollie] by joel0622 Apr 04, 2009 (8:25 am)
Replying to: phollie (Mar 14, 2009 10:00 am) If I was you I would ditch the Honda idea and go look at a Ford Fusion. Fit, finish, and quality is as good or better then a Honda or Toyota plus you can get 0% for 72 months on one right now WAC. You would be amazed how much a payment will drop when you are not paying interest, plus 100% of the payment is going to principal.   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. Replies to this message: blueiedgod (Apr 07, 2009 10:13 am) joel0622 (Apr 07, 2009 12:48 pm) smithed (Apr 15, 2009 6:52 am) bigm3 (May 09, 2009 6:24 pm) joel0622 (May 15, 2009 5:27 am) joel0622 (May 15, 2009 5:31 am) and 5 more...
#1110 of 1160 Re: Lowering payments [joel0622] by blueiedgod Apr 07, 2009 (10:13 am)
Replying to: joel0622 (Apr 04, 2009 8:25 am) Bad idea. Ford resale is crap. And does not support the US economy.   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... Replies to this message: joel0622 (Apr 07, 2009 12:48 pm) smithed (Apr 15, 2009 6:52 am)
#1111 of 1160 Re: Lowering payments [blueiedgod] by joel0622 Apr 07, 2009 (12:48 pm)
Replying to: blueiedgod (Apr 07, 2009 10:13 am) He did not ask for conversation on who's car is more American (My company is HQ'ed out of Detroits, the two you mention are in Japan) he was asking about getting out of a car he is killed in. Even if the whole resale excuse held any water it still would not matter. What does resale matter when you are $10K plus tax and profit in the bucket?
#1112 of 1160 I am in the same boat by cep2535 Apr 10, 2009 (6:37 pm)
I thought I was the only one.   I bought a 01 BMW 2.5 years ago, payments are a bit high because of my credit back than. I was looking to refi, but now the car is more than 7 years old, I owe about 12k on it, but now its worth only like 8ish.. what a crap deal I got huh.. Live and learn.. Looks like I am keeping it till I pay it off. Hopefully nothing breaks on it, knock on wood. Replies to this message: volvomax (Apr 11, 2009 7:59 am) cep2535 (Apr 11, 2009 8:09 am) blueiedgod (May 08, 2009 9:09 am)
#1113 of 1160 Re: I am in the same boat [cep2535] by volvomax Apr 11, 2009 (7:59 am)
Replying to: cep2535 (Apr 10, 2009 6:37 pm) Dude, WHY on earth did you buy an antique bimmer in the first place??   Esp if you had so-so credit. You should have bought a nice econobox,fixed your credit THEN get the nice car.   Why do people do this!!!!!!! Replies to this message: cep2535 (Apr 11, 2009 8:09 am) blueiedgod (May 08, 2009 9:09 am)
#1114 of 1160 Re: I am in the same boat [volvomax] by cep2535 Apr 11, 2009 (8:09 am)
Replying to: volvomax (Apr 11, 2009 7:59 am) No idea. I have to cash to make up the difference, but I am just going to follow the payments to build TL on my credit report.
#1115 of 1160 Re: Lowering payments [blueiedgod] by smithed Apr 15, 2009 (6:52 am)
Replying to: blueiedgod (Apr 07, 2009 10:13 am) Bad idea. Ford resale is crap. And does not support the US economy. 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... ^^^^^^^^^ Those Mazda 6 look very interesting and sportier than Accord/Camry. Close=Altima
#1116 of 1160 Re: I am in the same boat [volvomax] by blueiedgod May 08, 2009 (9:09 am)
Replying to: volvomax (Apr 11, 2009 7:59 am) Why do people do this!!!!!!!   Image!   Drive by the projects, and you will see more Escalades and Lexus SUV's than you would in the wealthy part of town.
#1117 of 1160 Re: Lowering payments [joel0622] by bigm3 May 09, 2009 (6:24 pm)
Replying to: joel0622 (Apr 04, 2009 8:25 am) The only thing you missed in your calculation is advance for the banks....you can borrow up to 110% of dealer cost and get 0% financing,so if that fusion has MSRP of 24 K lets say dealer cost is 22K+ title ,license ,registration,sales tax,doc fee and 10K negative equity you are at $33854 or around 150% LTV .No way to get 0% Replies to this message: joel0622 (May 15, 2009 5:27 am) joel0622 (May 15, 2009 5:31 am) grandtotal (May 15, 2009 5:58 am) and 4 more...
#1118 of 1160 Re: Lowering payments [bigm3] by joel0622 May 15, 2009 (5:27 am)
Replying to: bigm3 (May 09, 2009 6:24 pm) In what world???? I roll 150% deals every day. Replies to this message: joel0622 (May 15, 2009 5:31 am) grandtotal (May 15, 2009 5:58 am) joel0622 (May 15, 2009 6:25 am) and 3 more...

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