How to get out from a car loan your underwater on? | |
Anonymous Coward (OP) User ID: 683924 United States 06/04/2009 09:16 PM Report Abusive Post Report Copyright Violation | |
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mathetes User ID: 514914 United States 06/04/2009 09:19 PM Report Abusive Post Report Copyright Violation | What is the easiest least detrimental way to get out from under a car loan you owe much more than your car is worth. I am upside down about $6000. Quoting: Anonymous Coward 683924I could tell you but its illegal For I would not, brethren, that ye should be ignorant of this mystery, lest ye should be wise in your own conceits; that blindness in part is happened to Israel, until the fulness of the Gentiles be come in. |
SubarcticBeef User ID: 560939 United States 06/04/2009 09:21 PM Report Abusive Post Report Copyright Violation | What is the easiest least detrimental way to get out from under a car loan you owe much more than your car is worth. I am upside down about $6000. Quoting: mathetesI could tell you but its illegal Burn it? Large and Powerful [link to i154.photobucket.com] |
Windsage4 nli User ID: 625711 United States 06/04/2009 09:25 PM Report Abusive Post Report Copyright Violation | Wow, that's a lot. I just bought a new car on Sunday and they wrapped $3,000 into my new car loan, the difference between what I still owed on my old car (6,700) and what they said they would give me as its value (3,700). I know I kinda got screwed on that but I was sooooo happy to get out from under that old car. It had 104,000 miles on it and was coming up on some *very* expensive repairs. Worked for me, I'm in a 2010 Honda Insight, their new hybrid, plus I think I get a pretty hefty tax credit for buying a hybrid. I really had no other option, in my circumstances. Well, I suppose I (60 years old female) could have gone carless for about a year and saved up a down payment, not likely. Car dealers are freakin out these days, they will bend all kinda rules for you, just to make a sale. |
mathetes User ID: 514914 United States 06/04/2009 09:25 PM Report Abusive Post Report Copyright Violation | What is the easiest least detrimental way to get out from under a car loan you owe much more than your car is worth. I am upside down about $6000. Quoting: SubarcticBeefI could tell you but its illegal Burn it? I had a good friend who was an insurance adjuster...he once told me everybody gets 1 and only 1 after that the big house Of course I had no ideal what he was talking about :) For I would not, brethren, that ye should be ignorant of this mystery, lest ye should be wise in your own conceits; that blindness in part is happened to Israel, until the fulness of the Gentiles be come in. |
Anonymous Coward User ID: 658410 United States 06/04/2009 09:26 PM Report Abusive Post Report Copyright Violation | |
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Anonymous Coward User ID: 692701 Japan 06/04/2009 09:31 PM Report Abusive Post Report Copyright Violation | I'm driving a 2000 Ford Crown Vic, 8-cyl, 25 mpg highway with 190,000 miles on it. Doing regular maintenance and making repairs when needed. Just replaced universal joints on one wheel. Just bought new tires with 80,000 mile warranty and expect to ride this at least to 250k miles. No payments for me until I figure out which way the car industry is going. Also, I've bought a bike rack and the bike goes with me a lot of places. Park it and pedal when I can! Wow, that's a lot. I just bought a new car on Sunday and they wrapped $3,000 into my new car loan, the difference between what I still owed on my old car (6,700) and what they said they would give me as its value (3,700). I know I kinda got screwed on that but I was sooooo happy to get out from under that old car. It had 104,000 miles on it and was coming up on some *very* expensive repairs. Quoting: Windsage4 nli 625711Worked for me, I'm in a 2010 Honda Insight, their new hybrid, plus I think I get a pretty hefty tax credit for buying a hybrid. I really had no other option, in my circumstances. Well, I suppose I (60 years old female) could have gone carless for about a year and saved up a down payment, not likely. Car dealers are freakin out these days, they will bend all kinda rules for you, just to make a sale. |
Anonymous Coward User ID: 692701 Japan 06/04/2009 09:32 PM Report Abusive Post Report Copyright Violation | |
The Chef User ID: 671624 United States 06/04/2009 09:45 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward (OP) User ID: 683924 United States 06/04/2009 09:49 PM Report Abusive Post Report Copyright Violation | No gap insurance, I have been looking at that gas guzzler credit program they are thinking about passing. If that happens I should qualify for the $4500 credit, that would definitely close the gap quickly. Then a deal with some dealership could possibly get the rest of the way. Other than that I guess I am stuck driving it till the wheels come off. |
The Chef User ID: 671624 United States 06/04/2009 09:53 PM Report Abusive Post Report Copyright Violation | Since you don't have gap insurance that rules out some of the options considered above. You could possibly find a deal this weekend I believe all the Dodge dealers that are closing have to have cars sold by the 8th. Other than that you have few options I'm afraid. I had a similar situation a few years back and I will never buy a new car again. I now buy all my cars at auction. |
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Anonymous Coward User ID: 642285 United States 06/04/2009 10:18 PM Report Abusive Post Report Copyright Violation | The result is that now I pass emissions still, but just barely. However I went from 12-13 mpg city to 17-19 mpg city. MY highway mileage went up substantially, too. It's over 22 MPG now. Not economy car rates, but vastly better than the stock version that's 50 state legal. The 'new chip' cost about $400 and I'll save that on gas in a year or two. The reworking of the manifold and exhaust system was a bit more costly. They removed a lot of the old system and replaced it while making the computer believe it's seeing the right signals from the involved sensors. But it worked. Pity you can't buy them like this. |
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Anonymous Coward User ID: 413608 United States 06/27/2009 01:48 PM Report Abusive Post Report Copyright Violation | I was sooooo happy to get out from under that old car. It had 104,000 miles on it and was coming up on some *very* expensive repairs. Quoting: Windsage4 nli 625711A dispensable society. was it $3000. worth of repairs? fix the damn car and keep driving you fool! the garbage dumps are full! |