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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
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Found out our payoff amount is $16.5k with no prepayment penalties. In addition, TBlazer is worth $5k plus it has 91.4k miles. What do you think our payments for either an Acura TL or Accord EX look like even though we will have about 120k miles come Oct '07? Or will we have to get a lower price Asian vehicle to roll over some negative equity? I'm done with SUVs except MDX, pre-owned or new (which is going for $40k). Other than the Acura SUV, I don't see any others that I like. Ridgeline is too small. In a nutshell, I prefer a car.
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Replying to: mookie14 (Oct 24, 2006 3:39 pm)
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Replying to: mookie14 (Oct 24, 2006 3:39 pm) That being said, rolling over negative equity is a good way to make yourself a slave to debt. You might consider whether you'd be better off with a cheaper car and a savings plan. |
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| Answer this for me is it better to be off with a auto that is VERY!! unreliable and a possible breakdown on the road??? Also with a warranty that expires in like 7-07 just curious i did not think you knew that ok. | |
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Replying to: mookie14 (Oct 28, 2006 9:34 pm) I don't think that anyone advised you to buy an unreliable car. I hope that you're not saying that the only reliable car sold in the USA is a new Acura TL! |
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Replying to: qbrozen (Oct 24, 2006 4:55 pm) |
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Replying to: mookie14 (Oct 28, 2006 9:34 pm) Yes. |
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Replying to: mookie14 (Oct 28, 2006 9:34 pm) I agree with Bobst. Rolling negative equity into a new car loan is always a bad deal. Period. |
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Replying to: mookie14 (Oct 28, 2006 9:34 pm) Just another idea! |
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Replying to: mookie14 (Oct 28, 2006 9:34 pm) If you absolutely have to get rid of a car that you have negative equity then the next best advice is to bite the bullet and get the least expensive new car you can. That way you minimize how deep you can dig yourself. Then keep that car until two years after you pay it off saving those monthly payments for a nice down payment.
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