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Anonymous
Shitty Car Financing 2017-09-01 04:22:39 Post No. 17805371
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Shitty Car Financing 2017-09-01 04:22:39 Post No. 17805371
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What's the best way to get out of a deal where you're upside down on a car in debt because you're retarded?
My mom is stupid and I'm even more stupid for listening to her.
When I was 18 my $300 topaz died on me and my mom told me i should buy a brand new car to build credit. I didn't know any better and went with her and financed a brand new 2013 Chevy Cruze for around 22-23k at 9% interest.
Now it's worth maybe 7-10k and I still owe $16k
I want out from under it, warranty is over. Has 77k It keeps coming up with small issues. Seats are tearing.
The payments arent really an issue but the 9% interest is. My credit was fresh 500 back then now im 760+. I just hate owning such a shitbox and being stuck in it.
My buddy is a finance manager at a nissan/gmc dealer has been going back and forth with me and his general manager about trying to get me out of this thing without taking too much of a hurt.
We're looking at '14 Altima on their lot with 32k on it for 15k. This is assuming a 11000 trade in on my car which is way over their suggested trade value.
So I'll end up with a 20k loan with 1.9% interest for 60/mo on the Altima.
The GM and my buddy said they literally can't do anything more then that.
Seems like a way nicer car than my cruze that I won't be upside down on as badly.
This seem like a decent route to go or is there another avenue?
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It's time to pay the Piper my man. Pretty much all you can do at this point is refi for a lower rate and overpay until you owe the value. You probably have 3 years to go.
The only way not to be upside down is through money
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>>17805371
Stop buying frivolous things, stop eating out, focus all your disposable income on paying off that car. Once you've paid it off you can sell it and buy a 3k Toyota Corolla.
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>>17805387
>>17805752
These.
Buying yet another overpriced shitter is not the way
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>>17805752
Or once you've put yourself into a fine equity position you can buy something that isn't boring as fuck that's relatively new
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>>17805371
It's too late now, but there is fuck loads of finantial info on the internet. Do a lot of research before you do anything over $1000 again. Whether it's buying a laptop or financing a house, DO SOME READING ON WHAT TO DO, WHEN TO DO IT, AND HOW TO DO IT CORRECTLY.
New cars are a meme anyways. The only thing that holds it's value worse is probably ammeters.
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>>17805752
Food was the biggest financial drain on me. I've gotten it down to $240 a month.
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>>17806159
Disgusting
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>>17805387
>>17806159
This.
Or if you have GAP insurance, wrap that motherfucker around a tree. You can walk away from the Cruze free and clear, and deal with a slightly higher insurance premium for a couple years
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>>17805371
You have to pay for being stupid.
Or default, face a repo and cripple your credit rating for the next 7 years.
Jewed™
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The Altima has been wrecked or flooded.
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>>17805371
>it's worth maybe 7-10k and I still owe $16k
By the time you pay it off it will be worth $1,500-.
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>>17806661
>The Altima has been wrecked or flooded.
God you are gonna have soooo many flood cars coming out of Texas within the next 3 to 6 months. Shit will be as bad as Katrina
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