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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

You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester

What is this discussion about? Car Leasing

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#630 of 1160 Re: to: dtownfb re: Tired of Chevy TBlazer - looking @ Acura TL [snakeweasel] by kirstie_h HOST Oct 30, 2006 (12:17 pm)
Replying to: snakeweasel (Oct 30, 2006 8:30 am) The only problem with your Plan B is that, on a cheap new car, he's not going to be able to roll over that much negative equity.   Like everyone else, I'm going to advise you to pay down that Trailblazer as quickly as possible, even if it means eating frozen pizzas for a year. Replies to this message: snakeweasel (Oct 31, 2006 6:43 am) qbrozen (Oct 31, 2006 6:46 am) kyfdx (Oct 31, 2006 7:55 am) and 3 more... snakeweasel (Nov 01, 2006 6:12 am)
#631 of 1160 Re: to: dtownfb re: Tired of Chevy TBlazer - looking @ Acura TL [kirstie_h] by snakeweasel Oct 31, 2006 (6:43 am)
Replying to: kirstie_h (Oct 30, 2006 12:17 pm) The only problem with your Plan B is that, on a cheap new car, he's not going to be able to roll over that much negative equity.   Granted, but I wasn't thinking in the lines of a $9k Aveo SV, more like the least expensive he can make the deal work. That means not the Acura either.   Best bet by far is to stick with the TB as long as he can. That would be less expensive in the short and long run.   even if it means eating frozen pizzas for a year.   I would advise to cook them first. Replies to this message: qbrozen (Oct 31, 2006 6:46 am) kyfdx (Oct 31, 2006 7:55 am) qbrozen (Oct 31, 2006 8:17 am) and 1 more... sebring95 (Oct 31, 2006 8:36 am) snakeweasel (Nov 01, 2006 6:12 am)
#632 of 1160 Re: to: dtownfb re: Tired of Chevy TBlazer - looking @ Acura TL [snakeweasel] by qbrozen Oct 31, 2006 (6:46 am)
Replying to: snakeweasel (Oct 31, 2006 6:43 am) Granted, but I wasn't thinking in the lines of a $9k Aveo SV   But, to the host's point, its impossible to bury $11k negative equity into a $9k car. Not to mention, would you REALLY want to be paying off a $20k note on a $9k car? I know I wouldn't. Replies to this message: kyfdx (Oct 31, 2006 7:55 am) qbrozen (Oct 31, 2006 8:17 am) kyfdx (Oct 31, 2006 8:27 am) sebring95 (Oct 31, 2006 8:36 am) snakeweasel (Nov 01, 2006 6:12 am)
#633 of 1160 Re: to: dtownfb re: Tired of Chevy TBlazer - looking @ Acura TL [qbrozen] by kyfdx HOST Oct 31, 2006 (7:55 am)
Replying to: qbrozen (Oct 31, 2006 6:46 am) Not much different than paying $15K note on the $5K car that he has now...   I agree...Keep the TB, and put everything you have into paying that note down... That will get you out of trouble more quickly than any other alternative. Replies to this message: qbrozen (Oct 31, 2006 8:17 am) kyfdx (Oct 31, 2006 8:27 am) sebring95 (Oct 31, 2006 8:36 am)
#634 of 1160 Re: to: dtownfb re: Tired of Chevy TBlazer - looking @ Acura TL [kyfdx] by qbrozen Oct 31, 2006 (8:17 am)
Replying to: kyfdx (Oct 31, 2006 7:55 am) well, that's a bed the poster already made when he rolled a boatload of negative equity into the TB. Why do it again?   Besides, personally, regardless of value, I'd rather be upside-down in a TB than an Aveo. Replies to this message: kyfdx (Oct 31, 2006 8:27 am)
#635 of 1160 Re: to: dtownfb re: Tired of Chevy TBlazer - looking @ Acura TL [qbrozen] by kyfdx HOST Oct 31, 2006 (8:27 am)
Replying to: qbrozen (Oct 31, 2006 8:17 am) I agree... no point in adding to the amount owed... Just pay down what you have, as quickly as you can.. If you can afford to roll over $11K and still swallow that big payment, then prove it now, by paying off your current loan in a year...   Then, you'll really be in great shape..
#636 of 1160 Re: to: dtownfb re: Tired of Chevy TBlazer - looking @ Acura TL [kyfdx] by sebring95 Oct 31, 2006 (8:36 am)
Replying to: kyfdx (Oct 31, 2006 7:55 am) The $5k value is a bit suspect as well. Maybe that's what a dealer offered him (he could have offered $2.00 as easily), but you've got to work to get this thing down to being only worth $5k on a book trade value (bad condition, no options, etc.). A private sale would surely bring more.
#637 of 1160 Re: to: dtownfb re: Tired of Chevy TBlazer - looking @ Acura TL [qbrozen] by snakeweasel Nov 01, 2006 (6:12 am)
Replying to: qbrozen (Oct 31, 2006 6:46 am) I know thats why I joined in the chorus of "keep the TB".
#638 of 1160 oh well by mookie14 Nov 02, 2006 (7:35 pm)
I just might as well keep it like you guys say huh? Well everyone has opinions and frankly i like mine. I do know one thing i really do appreciate all the info you guys gave i will take in consideration when i get a new vehicle thanks guys. Replies to this message: qbrozen (Nov 03, 2006 6:20 am) div2 (Nov 03, 2006 9:16 am)
#639 of 1160 Re: oh well [mookie14] by qbrozen Nov 03, 2006 (6:20 am)
Replying to: mookie14 (Nov 02, 2006 7:35 pm) good luck. you'll need it.

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