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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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#665 of 1160 Re: negative equity [ray80] by kirstie_h HOST Dec 07, 2006 (9:55 am)
Replying to: ray80 (Dec 07, 2006 9:51 am) That comment was really meant for kyfdx, who seems to have conveniently (and probably wisely) ignored it.   $500? For how long did you finance? Replies to this message: ray80 (Dec 07, 2006 9:58 am)
#666 of 1160 Re: negative equity [kirstie_h] by ray80 Dec 07, 2006 (9:58 am)
Replying to: kirstie_h (Dec 07, 2006 9:55 am) Was a long time ago, most likely a year or so, couldn't wait to get rid of it
#667 of 1160 Re: negative equity [kirstie_h] by jlawrence01 Dec 07, 2006 (10:22 am)
Replying to: kirstie_h (Dec 07, 2006 6:26 am) Man, you guys are older than dirt   I just assumed that you were talking to me. (g)
#668 of 1160 financing by qbrozen Dec 07, 2006 (10:26 am)
Geesh! you guys ARE older than dirt!   My first car payment EVER was on a new '97 Dodge Dakota. ~$350/mo. I've never had a payment lower than that since.   For reference, my highest was my wife's Pilot at $525.
#669 of 1160 Re: negative equity [div2] by w9cw Dec 07, 2006 (1:26 pm)
Replying to: div2 (Dec 06, 2006 7:42 pm) div2 wrote: "I doubt that I could endure owning an Elantra for 84 minutes..."   Funny, since I sold a Civic, and bought a 2006 Elantra (paid cash), and am happy that I did. The Elantra is a much better car than the previous generation Civic. When you've owned both as my wife and I have, you'll know what I mean.   Hyundai, unfortunately, is still the laughing stock with some uninformed consumers, just as Honda and Toyota were back in the '60s and '70s. I remember when I bought my first Honda - a 600 coupe in 1972; people thought I was crazy, and laughed every time I drove the car. They're not laughing at Honda now, and those who make fun of Hyundai, will also not be laughing.   Like Mikey was told (paraphrasing of course): "Drive one, you might like it!" Replies to this message: div2 (Dec 07, 2006 6:30 pm)
#670 of 1160 yikes! by mustangfan23 Dec 07, 2006 (2:51 pm)
Hyundai is trying to improve their image....yet, it will still be awhile before any significant changes will come about. Their long warranty is nice, much needed so I hear...   One other thing--never ever finance a car for 84 months!! You are just asking for negative equity. Try to set it up for 60 months and pay if off early, if possible. The main thing is to get what you can afford in the first place and don't over-pay!
#671 of 1160 Re: negative equity [kyfdx] by farout Dec 07, 2006 (5:27 pm)
Replying to: kyfdx (Dec 07, 2006 8:04 am) kyfdx: My first New car was a 1964 Chevy 2. Paid $2,872. My payments were $82.50 a month. I was making $600. a month. My next New car was a 1966 VW bug with pop out windows, Tax Lic., and out the door was $1,840. and I had an actual oil filter and hele coils put in so the heads did not pop. I traded it off every 50,000 miles. They were cheap and fun. My last bug was 1971 bug and it was $27??. I can't remember the exact amount. Bare in mind car prices have kept pace with houses, food and other basic staples. But, wages have gone down hill from 1985. My son in law thinks $15. an hour is pretty good. I made $16. an hour in the Carpenters Union in 1983. To compensate banks have made loans longer to keep the ecomony strong and cars for the working affordable.   Farout Replies to this message: explorerx4 (Dec 07, 2006 6:18 pm) sebring95 (Dec 08, 2006 6:55 am)
#672 of 1160 Re: negative equity [farout] by explorerx4 Dec 07, 2006 (6:18 pm)
Replying to: farout (Dec 07, 2006 5:27 pm) my dad bought a '74 bug with a sticker of 2200(i think). it had a radio, which may or not have been optional. the same dealer had porsches in the showroom. i remember seeing a 911 that had a sticker of 14,100, but did not have a radio. i was shocked(and obviously naive). i had quite a few adventures in that car, along with others. reminds me that i need to be more patient with my own kids. thanks for the post. Replies to this message: sebring95 (Dec 08, 2006 6:55 am)
#673 of 1160 Re: negative equity [w9cw] by div2 Dec 07, 2006 (6:30 pm)
Replying to: w9cw (Dec 07, 2006 1:26 pm) Hyundai, unfortunately, is still the laughing stock with some uninformed consumers, just as Honda and Toyota were back in the '60s and '70s.   Just to clarify, I'm not biased against Hyundai- I've even recommended them to my non-enthusiast friends. I couldn't endure owning any vanilla FWD sedan- Civic, Elantra, Camry, Lancer(EVO excluded of course), Fusion, G6, or whatever. Fact is, the Cooper S JCW is about the only FWD car I would consider owning.   When you've owned both[Civic and Elantra] as my wife and I have, you'll know what I mean.   I'll have take your word for it. The reason being, as Peter DeLorenzo would say, is because that is simply notgonnahappen.com...
#674 of 1160 Re: negative equity [explorerx4] by sebring95 Dec 08, 2006 (6:55 am)
Replying to: explorerx4 (Dec 07, 2006 6:18 pm) Everybody can badmouth VW all they want, but my best vehicle investment to date was a '77 bug convertible my wife just HAD to have (i argued). I never liked them but paid somewhere in the $3,000 range IIRC for a white over white model. Sold it in 1996 for $14,500. Now if I would have listened to my father in 1971 (a dodge/plymouth salesman at the time) and bought that Plymouth Superbird for $1500 that they couldn't get rid of......but that kind of cash was pretty tight back then for something I though was hideous to look at.   FWIW, with the exception of leasing some vehicles for business/tax purposes I've never made vehicle payments. Probably lucky I guess because it seems like once you start financing something (particularly when younger) you're stuck making payments for life.

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