so how much in debt are you guys with your cars?
#1
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Join Date: Jul 2008
Location: cleveland
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so how much in debt are you guys with your cars?
i bought my gxp used carried over 6k negative equity from my gt1 to my gxp so now i have a loan balance of 27k over 72 months? and i could probably get 16 or 17 on a trade in! 10 or 11k upside down . i should have got a rwd vette or mustang cobra, or gto, for the same f-in price . now im just screwed lol well i guess the gxp is mine for awhile. but dont you think the resale is terrible for these cars? like if u bought a new gxp for 30k you could only get 20 for it...
never finace without anticipating the negative equity a mistake i made twice
never finace without anticipating the negative equity a mistake i made twice
#4
I owe on my car, but I don't really care. I'm not selling it! Only way to be upside down is if you buy a car to sell it later, or impulse buy. I buy my cars to keep, so a lot of thought goes into any purchase I make.
Impulse buying= The DEVIL!!!
Impulse buying= The DEVIL!!!
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#13
I will never trade in a car if has negative equity. I will just keep it until at least the trade in value = payoff. Then I will try to get the best deal I can with the car I am buying so that the dealer does not try to shift the trade in value to the new purchase. I keep then both seperate.
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#20
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I just got my 07 in June, so I owe alittle over 22 on her, should have it paid off in 4 years or so. I bought the car because I love it, not going to part with it until it is dead, and not worth fixing.