Negative Equity
Large Member
Joined: Apr 2017
Posts: 2,805
Likes: 712
From: Raleigh, NC
because assuming the borrower doesnt default they stand to make a ****load of money off of him/her. lots of risk, but also lots of reward.
Senior Member
Joined: Oct 2018
Posts: 298
Likes: 107
Not judging anything but the need for professional financial advice. Wouldn't matter if 99% or 2% were in the same boat.
I do the rental house thing and really enjoy learning about people in general. One thing holds true. Never evicted anyone who didn't leave behind an imprint on the carpet where their big screen TV sat. Never texted anyone about their late rent who didn't get the text on a nicer phone than I have.
I do the rental house thing and really enjoy learning about people in general. One thing holds true. Never evicted anyone who didn't leave behind an imprint on the carpet where their big screen TV sat. Never texted anyone about their late rent who didn't get the text on a nicer phone than I have.
Senior Member
Joined: Jun 2017
Posts: 2,159
Likes: 723
Here is the post, which would also explain a lot about why he'd be so upside down if he didn't have a down payment or maybe went into that deal with negative equity.
https://www.f150forum.com/f3/new-ford-period-426860/
Senior Member
Joined: Nov 2017
Posts: 1,771
Likes: 559
According to his very first post........he just got his 2018 XLT last month.
Here is the post, which would also explain a lot about why he'd be so upside down if he didn't have a down payment or maybe went into that deal with negative equity.
https://www.f150forum.com/f3/new-ford-period-426860/
Here is the post, which would also explain a lot about why he'd be so upside down if he didn't have a down payment or maybe went into that deal with negative equity.
https://www.f150forum.com/f3/new-ford-period-426860/
Thread Starter
Junior Member
Joined: Oct 2018
Posts: 22
Likes: 8
According to his very first post........he just got his 2018 XLT last month.
Here is the post, which would also explain a lot about why he'd be so upside down if he didn't have a down payment or maybe went into that deal with negative equity.
https://www.f150forum.com/f3/new-ford-period-426860/
Here is the post, which would also explain a lot about why he'd be so upside down if he didn't have a down payment or maybe went into that deal with negative equity.
https://www.f150forum.com/f3/new-ford-period-426860/
Member
Joined: Jul 2018
Posts: 31
Likes: 6
Sounds like you ‘want’ a limited when in reality you can’t afford one. I am a retired career banker and you are looking at committing a financial cardinal sin. Unless you put about 25% down, you’re in danger of having negative equity on any high end trim truck - without carryover debt. These are the type of financial mistakes that will haunt you for a long, long time. Financial freedom comes through making wise decisions and a bit of luck. You can’t always control the luck but you can control your financial decisions.
If you can’t control yourself here, at least get an extended warranty because you’ll own this truck a long time. Also get a Gap policy. Bad things will happen if you wreck it.
Sorry to be be tough on you, but.......
Mike
If you can’t control yourself here, at least get an extended warranty because you’ll own this truck a long time. Also get a Gap policy. Bad things will happen if you wreck it.
Sorry to be be tough on you, but.......
Mike
5 Year Member
Joined: Nov 2017
Posts: 1,372
Likes: 203
The only real legit reason to take on negative equity in anything is reasons other than ‘want’.
Real good trade offer on a used vehicle? (Functionally gets rid of negative equity though even though it may not seem like it)
Needing to roll payments into a new car before inevitable bankruptcy?
Needing to offload a high mile car before taking a job that requires a lot of driving?
Problimatic vehicle you need to offload?
Going through a divorce with a gold digger wife?
Real good trade offer on a used vehicle? (Functionally gets rid of negative equity though even though it may not seem like it)
Needing to roll payments into a new car before inevitable bankruptcy?
Needing to offload a high mile car before taking a job that requires a lot of driving?
Problimatic vehicle you need to offload?
Going through a divorce with a gold digger wife?
Senior Member
Joined: Aug 2016
Posts: 401
Likes: 121
From: Goodyear, AZ
Love the one you're with...
5 Year Member
Joined: Mar 2017
Posts: 1,534
Likes: 507
From: South St. Louis county, Mo.
I bought my 6 month old 9000mile 302a 4x4 and only financed 17k. I could of paid cash but that would have cost me more money in the long run since that money is currently earning approximately 12% . So sometimes it's better to finance.
Go upside down though.... Not me ever.
Go upside down though.... Not me ever.
Large Member
Joined: Apr 2017
Posts: 2,805
Likes: 712
From: Raleigh, NC
I have done it before, but it was about 5K, and it was done for a very practical purpose. It wasn't smart, but I kept the vehicle, and paid for my earlier transgression. In those days, I didn't have a forum full of people giving sound advice, so consider yourself lucky.
Love the one you're with...
Love the one you're with...