View Poll Results: wat to do
keep it
66
80.49%
dont keep it
5
6.10%
trade up or down
7
8.54%
get a cheap car to drive instead while paying truck down
4
4.88%
Voters: 82. You may not vote on this poll
Checked kbb today, upside down 20-22k dealer trade, 17k pp
12-20-2018, 12:03 PM
#1
Checked kbb today, upside down 20-22k dealer trade, 17k pp
legit felt sick to my stomach when i saw that. was trying to get out of it but at this rate I may as well keep.
Anyone else gotten creative, traded up or down or did whatever to get out of something like this
i owe 46. paid 48+ tax (yeah i got boned)
24k miles
black
2018
CC
6/5 bed
3.5tt
XLT
w/Gooseneck
Anyone else gotten creative, traded up or down or did whatever to get out of something like this
i owe 46. paid 48+ tax (yeah i got boned)
24k miles
black
2018
CC
6/5 bed
3.5tt
XLT
w/Gooseneck
Last edited by user 83720; 12-20-2018 at 12:05 PM.
Popular Reply
12-20-2018, 12:19 PM
Senior Member
Your post is missing critical information, unless I'm not understanding the saga.
You had a 2015, on which you owed money. Your traded it, and bought a 2018, and had $11,000 in negative equity, which is why your loan balance is so high. In looking for a way out, you're surprised that a new vehicle drops so much in value, and that with your $11,000 in negative equity, you're even further behind than you were when you traded?
I would suggest you seek out a financial counselor to help you figure things out. The reason I suggest this is not that you made one mistake, but that you didn't seem to understand the financial aspects of it, and your poll has "trade up" as one choice, which is quite insane.
You had a 2015, on which you owed money. Your traded it, and bought a 2018, and had $11,000 in negative equity, which is why your loan balance is so high. In looking for a way out, you're surprised that a new vehicle drops so much in value, and that with your $11,000 in negative equity, you're even further behind than you were when you traded?
I would suggest you seek out a financial counselor to help you figure things out. The reason I suggest this is not that you made one mistake, but that you didn't seem to understand the financial aspects of it, and your poll has "trade up" as one choice, which is quite insane.
12-20-2018, 12:05 PM
#2
Senior Member
private party shouldn't be less than dealer trade in, you must have those backwards......If you can't afford the payments, you're gonna have to sell it to someone outright, and take the hit.
12-20-2018, 12:09 PM
#3
Not backwards. 20-22k loss if dealer trade in. roughly 17-18k loss if private party sale.
12-20-2018, 12:19 PM
#4
Senior Member
Your post is missing critical information, unless I'm not understanding the saga.
You had a 2015, on which you owed money. Your traded it, and bought a 2018, and had $11,000 in negative equity, which is why your loan balance is so high. In looking for a way out, you're surprised that a new vehicle drops so much in value, and that with your $11,000 in negative equity, you're even further behind than you were when you traded?
I would suggest you seek out a financial counselor to help you figure things out. The reason I suggest this is not that you made one mistake, but that you didn't seem to understand the financial aspects of it, and your poll has "trade up" as one choice, which is quite insane.
You had a 2015, on which you owed money. Your traded it, and bought a 2018, and had $11,000 in negative equity, which is why your loan balance is so high. In looking for a way out, you're surprised that a new vehicle drops so much in value, and that with your $11,000 in negative equity, you're even further behind than you were when you traded?
I would suggest you seek out a financial counselor to help you figure things out. The reason I suggest this is not that you made one mistake, but that you didn't seem to understand the financial aspects of it, and your poll has "trade up" as one choice, which is quite insane.
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12-20-2018, 12:27 PM
#5
Your post is missing critical information, unless I'm not understanding the saga.
You had a 2015, on which you owed money. Your traded it, and bought a 2018, and had $11,000 in negative equity, which is why your loan balance is so high. In looking for a way out, you're surprised that a new vehicle drops so much in value, and that with your $11,000 in negative equity, you're even further behind than you were when you traded?
I would suggest you seek out a financial counselor to help you figure things out. The reason I suggest this is not that you made one mistake, but that you didn't seem to understand the financial aspects of it, and your poll has "trade up" as one choice, which is quite insane.
You had a 2015, on which you owed money. Your traded it, and bought a 2018, and had $11,000 in negative equity, which is why your loan balance is so high. In looking for a way out, you're surprised that a new vehicle drops so much in value, and that with your $11,000 in negative equity, you're even further behind than you were when you traded?
I would suggest you seek out a financial counselor to help you figure things out. The reason I suggest this is not that you made one mistake, but that you didn't seem to understand the financial aspects of it, and your poll has "trade up" as one choice, which is quite insane.
also your facts are wrong. where'd you get -11,000 from? I rolled over -900 on to the 2018. Might want to be sure of your number before you come at me with sarcasm like, "so youre surprised at this?"
Or you could just, not reply. how about that?
But hey ...in the world of the internet .... its MUCH easier to be a keyboard warrior, distort facts and assume things than actually say .... "yeah i dont know" or "i would keep it" or whatever your advice is.
Last edited by user 83720; 12-20-2018 at 12:31 PM.
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12-20-2018, 12:28 PM
#6
Senior Member
Or pay off over 6-7 years, while driving it for 10 years. During the last 3-4 years keep making equivalent payments into a savings account so you have some cash built up for purchasing next vehicle.
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HOSSzBOSS (01-03-2019)
12-20-2018, 12:37 PM
#7
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12-20-2018, 12:40 PM
#9
Agree, as long as you can afford the payments claw your way out from under even if it takes a while.
12-20-2018, 12:44 PM
#10
These things seem to depreciate damn fast.
