who has traded in a car with negative equity

 

not me, but it interested me enough to research it

say you owe more than the cars really worth, youve got negative equity

dont. do. it. unless you have the extra cash to "cushion" the punch

pay off your car as much as you can and get it under the value

you wont like neg. equity at all, and itll affect you for some time to come

the above is my plan for the future high performance cobalt

 

ive thought about it..

 

I have done it once dont do it unless you have to cause for one with neg eqiuty its harder to finance and plus it hurts your % on your new car

 

well i would only be at around 2 to 3 grand in the hole at 11% right now. if i could get a lower financing do you think its worth it

 

yeah if you can get less then what you are paying as far as % be casue more of it will go toward the premium instead of interest

but when doing this you should have a down payment finacers dont like to finace a vehicle with neg equity with no cash down

 

I had some on the cobalt when I traded it in. I put down 2500 when I traded in.

 

i could trow down2 g,s whats you think about the new pont.g8 coming out

 

i think if you put 2 gs down on a g8 with less then 11% what you are paying its a deal man those cars a nice cars

 

What do the g8's start at? I know there not cheap.

 

30,000 some i believe

edit for the gt model

 

The good one with the v8 is over 40k isnt it?

 

30,0004 for the 8 banger but ill get the 6 clylinder at around 24000 i think

or maybe a suv whats a good one to get?

 

Thats not to bad. But if you have negative equity plus taxes liscence and everything else your looking at a pretty big payment.

 

really depends on what kind of driving you do because a SUV will eat gas money from you alive i have one

 

Do your research dont get a car that you truly dont want.

 

**** my payment is 300$ for the lemon im driving now

 

Ya your probably looking at 500-600 just guessing.....

 

i wont make that mistake again! the sales guy must have seen me coming a mile away lol

 

Man...negative equity. That just put my mom and dad into Chapter 13. We had a 2000 Ford Expedition XLT. It was worth probably $8000 if we were even close to lucky and he owed like $16,000. I understand you think $2,000 or $3,000 isn't much...but just from my own observations (being only 16-17) I think it can be almost as bad as a drug.

 

You know that blows when that happens.

 

Oh yea...at least I'm working now and he told GMAC that I will be paying for my Cobalt, so luckily they were cool about it and they were able to make it an exception, since it's included in the bankruptcy as he is the legal owner.

Holy ****...I've never even heard about this G8 before right now... I'm browsing the site now; it looks amazing.

 

Me... Read signature... How I miss that Corvette...

 

toyota cambry? altima? what else is there in a sedan to chose from im lost

maybe if i get a used one with low miles on it with the warranty still in tact