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re: Getting Out Of A Vehicle You Are Upside Down On?
Posted on 10/23/17 at 11:28 pm to achenator
Posted on 10/23/17 at 11:28 pm to achenator
End of December is typically the best time to get a new car, and thats 2 months away.
If I was the OP, I'd list the truck for sale immediately as close to the payoff as possible and see if someone will bite.... who knows, maybe you will find someone that likes all the mods.
If that doesn't work, I'd shop around in mid to late December, the savings might be enough to mitigate the loss on the trade in.
If I was the OP, I'd list the truck for sale immediately as close to the payoff as possible and see if someone will bite.... who knows, maybe you will find someone that likes all the mods.
If that doesn't work, I'd shop around in mid to late December, the savings might be enough to mitigate the loss on the trade in.
0
Posted on 10/24/17 at 5:40 am to 3andOut
Have you thought about buying a $2000 beater commuter car just for driving to work? Pay cash and just have liability on it?
Posted on 10/24/17 at 8:05 am to GoIrish02
quote:
He's got a truck worth $20,000 and owes $26,000
This is why you either buy the truck and keep it for the long haul or buy a truck that has a high resale value to cover yourself in case a situation like this could arise. This is why I bought a Tacoma.
Posted on 10/24/17 at 1:33 pm to 3andOut
quote:
2014 GMC Sierra 6" lift 4WD decked out I bought new in 2014
can I get some more details on this rig? pics?
Posted on 10/25/17 at 3:18 am to 3andOut
if it were me I'd try to keep the truck and pay cash for a older used economical vehicle for your commute
Posted on 10/25/17 at 7:21 am to JamalSanders
quote:
beater commuter car ... just have liability on it?
Don't scrimp on the UM. That's what covers you when an uninsured idiot or one with a cheapass 25K policy runs over you and breaks your legs. It's the most important coverage you have.
Posted on 10/25/17 at 12:21 pm to anc
quote:
LNCHBOX
has the right answer.
This is a one time mistake you are trying to rectify as cheap as possible. Don't make it again.
I personally believe that vehicles are the #1 reason people struggle financially. I have rarely met someone that does vehicles right that is not doing well. However, the people Ive met with 2-3 car payments are struggling heavily.
I agree.
I got nauseated when I read the part about the $650 per month note.
OP should learn a good lesson from this and should be in a much better financial situation the rest of his life because of it. That is my hope for him.
If he does not learn, $$$ issues will persist forever.
Posted on 10/25/17 at 3:28 pm to AUtigerNOLA
quote:
This is why you either buy the truck and keep it for the long haul or buy a truck that has a high resale value to cover yourself in case a situation like this could arise. This is why I bought a Tacoma.
100%
Bought a Tacoma in November 2016 for just under 32K, taxes and all. Traded that 22 months later and got 28K trade value. I'm sure I was upside down in the very beginning, but it certainly wasn't for long.
Posted on 10/25/17 at 7:41 pm to AUjim
quote:
Bought a Tacoma in November 2016 for just under 32K, taxes and all. Traded that 22 months later
Are you coming to us from the future? Do we have flying cars yet? Has teleportation been invented?
Posted on 10/25/17 at 7:55 pm to lnomm34
shite. Haha. Bought in Nov 2015, traded in september 2017.
Posted on 10/25/17 at 8:00 pm to AUjim
Posted on 10/25/17 at 9:38 pm to 3andOut
Customizations will not help value--they reduce the number or people interested in the truck.
Sell it--take the hickey by paying off the difference when you can get some cash.
Sell it--take the hickey by paying off the difference when you can get some cash.
Posted on 10/26/17 at 9:53 am to AUjim
Well I bought mine in 2013. I have about $8k on the loan left but I could get about 22k for this truck. Could pay off loan and have$12-14k towards another truck.
Posted on 10/26/17 at 11:19 pm to 3andOut
How about just drive the wife's car to work?
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