I want to change my car , but I'm upside down and I do not want to add the balance of my car to the new car, what are my options ?
I owe 19,000 on my car and trade in value is 12,000 . I have to pay $ 450 a month and I can not afford more . My husband lost a lot of work due to the economy and we are surviving even pay at the supermarket . I want to get a car that is $ 200 a month . Can I get a dealer to pay me 19,000 and then add the difference of a new car loan for a car really cheap ? My car is my mother 's credit and could be bankruptcy .. my dad has not had work since the economy sank. He suggested that I just give the car to the bank . But I know that will come after them for the difference and garnish wages .. that 's not a good idea. Is that my only option ?
2003 Lincoln Navigator 75000 miles , with all options
I drive a Cadillac CTS 2003 with 90,700 miles on it . I owe about 12,000 on it , and its value will probably only 7 to 8.000 . Lately , the repairs have been increasing, and these cars are not at all cheap to repair .... seeing that the only value that will remain depreciation, and damage / wear will become more frequent , I wondered if it would be worth it to change a new car, even though I'm upside down on it .... OH ! and I'm actually about to start a new job where the car payments are a cancellation ... and the journey is very long ... so that's one of my main motivations for a new car ... my other option is to pay it forward ... and then trade .... that was about 2 years ... but not sure if this is the best long-term decision .... especially since the car will be last 100,000 miles then
I purchase a car on May 29, 2012. I get it from Drivetime. it is a upside down loan, and I have the money for another downpayment. I cant take it back because a the return program they have. I have to return the car within 3 business days.
I have two cars . My 2004 Mazda 6 children and my 2004 Nissan Sentra . He went to college , so you need to operate on both cars for a car for me . Both cars are in my name.We are approximately 7500 face down on both cars . I have a FICO score of about 620. I do not know if I'd better go with a new car ( with a discount that will eat some neagative equity ) as well as some of my money down . But still going to end up rolling around 4000 ontop of my new loan . ( I'll probably want to operate the car after 3 years , I like the car . But I do not want ) Or Should I buy a used car, rolling over 5300 of my old loan on top of the new loan.i most likely used to keep the car and give my son , and save it to your worth ALSO .. I wondered if my credit score was good enough for me to rent a car . That way you will not have to worry about neg . equity in the future . I do not know what to do.I need to get rid of the two cars . Insurance payments and the car cost me too ! HELP
I have bad credit and I have any choice?
We own ( should ) an Audi we owe $ 12,100 in but is probably only worth 10k . We want to replace it with a Honda Odyssey 05 .. Does this make sense ? Buy Odyssey $ 20,000 Audi Trade ( - ) $ 10,000 (2001 A6 Turbo 130 K ) Left Due $ 10,000 Rollover Upside ( ) $ 2.100 Loan TOTAL = $ 12,100 ($ 180 / month) My husband bought the Audi for $ 20k ( horrible deal ) and pay $ 365 a month. I have to lower our payments while getting a minivan ... Ideally pay the " upside down " and sell the Audi and buy a cheap car , or even after qualifying for the house (hopefully little or no debt against us ) ... but I'm not sure that will happen ( have extra $ 3k to pay the car and buy a new one) ... so " I'm trying to find another option.
Ok I have a 2004 Ford Mustang about 4 years ago for $ 14,500 at an interest rate of 20.9 per 369 per month . 2nd year after I got my car refinanced with my credit union 10.9 percent . My monthly payments are now 280 per month . My current balance is $ 10,300 I have never missed a payment and I am tired of paying for this car that's only good for looks . Just can drive in the rain and it's small inside . I know I should've researched the car , but I was young and foolish and did not. I can barely fit my niece in the car seat and if I can not have a passenger in the front seat . I know my chances are slim to none and I am aware that this was a big mistake . The car is only worth $ 4,500 . My credit is not good , so I must return the car or change it in. Either way ill be in a terrible situation . What should I do ?
Ok I owe $ 15k and my car is worth $ 10k . What I was thinking of doing was to buy a truck . Find something for around $ 10k and 5k put the rest of my trade in the truck . So 15k funding would lower my payments maybe $ 100 a month to allow me to send that extra $ 100 a month to my new truck . Doing this would allow me to leave i be reversed in the truck much faster than I would be able to in the car I have , sending the extra money each month . It also gives me the option to have a lower payment if needed due to a difficult month . I'm not really sure if this is a good idea or not , or if anyone has any suggestions , please let me know thanks !
I financed a 2003 Hyundai Sonata about a year ago to help build my credit and was told by the dealer that after a year of making payments I could trade it in for a higher value car. What they DIDNT tell me was that my car is now only worth about $2,000 and I owe over $7,000 leaving $5,000 negative equity. The car has 138k on it and I was not planning on keeping it for long when I bought it because of the high milage and I want to trade it in before I start having problems and dont really want to put money into a $2,000 car. Aside from paying more on it, what are my options...if any.