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In some cases the used car plus higher interest is more than a new car with all the incentives and bonuses.
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In some cases the used car plus higher interest is more than a new car with all the incentives and bonuses.
I think i'm over car payments either way. No sense getting the whip I want when VA keeps trying to take my livelihood.
So, I am TREMENDOUSLY upside down on my 2015 Kia Optim Hybrid Ex (with every option, sticker just around 37). I also have 32k miles on it. I went to the dealership to talk trade in options and they pulled my credit report from 2 of the bureaus and noticed that while my credit union gave me a better rate, they're not even reporting. Put that model and # of miles into KBB and I think you get like $14,000 or $15,000 current vaue of the car while I owe almost double that paying $470 a month. They bought up that I should just voluntary surrender it. They made it sound much better than what I am reading about it now, still a repo, but at most it'd just **** up probably 1 of my bureaus. What do yall think? I mean I goofed big time here, I also took out the loan over 7 yrs to get my payments there no many down (and gave them my 06 Grand Prix).
I joked about having gap insurance and "something" happening to the car and Meth didn't like that, so seems like my only options to pay Mercedes/BMW note for a Kia, which admittedly are extremely nice, feature filled, and reliable cars, their reputation just has to catch up, or just take that credit hit and get something that'll work better for me. I need an SUV. I saved up cash to get a cash SUV, used. Can free up that almost 5 bills a month.
I am also a Government worker with a secret security clearance, you can have a few credit bumps and things here and there but too many affect that status so I'm weighing that as well.
Sucks because I am so analytical most of the time with things, do all the research, read reviews, compare, etc and typically make such good decisions in my life but like the 3 ****** up ones I have made are the most damaging and long term.
Indeed. Managed to get a CPO '15 Passat SE for 17k out the door. Joint was barely broken in. The VW TDI scandal really helped bring down values on all their cars, so maybe that isn't a typical example. But I watched that car for a good month or so before buying it--the price dropped about 1k every 10 days. At that point I had to do it.Used is the way to go. If you're patient you can find a car that's damn near new with low miles for about 2/3s of what it goes for new.Personally, I'll never buy another brand new car again. Just doesn't make financial sense for me.
Virginia, speeding over a certain amount is considered reckless driving and comes with different consequences than a speeding ticket (anything over 80). Doesn't even make sense to get that whip that hauls *** when you can never haul ***.
Virginia, speeding over a certain amount is considered reckless driving and comes with different consequences than a speeding ticket (anything over 80). Doesn't even make sense to get that whip that hauls *** when you can never haul ***.
Gotcha. I got a ticket leaving VA 15 years ago. I forgot about it until I had to get a security clearance in 2011. Paid it off, but yeah, VA's "highways" are stupid.
What exactly makes a bank unethical about agreeing to give someone the money they need to purchase the car and expecting it to be repaid in the agreed upon time frame at the agreed upon rate?
OP you realize even if you commit insurance fraud, if your insurance doesn't cover the entire amount of the loan balance you're still liable for the remainder.
I'm sorry but if you need 84 months to pay off a car, you can't afford that car.
I don't even understand how they're allowed to offer car loans that long, it seems unethical to me.
Anyway, live and learn, OP.
So, I am TREMENDOUSLY upside down on my 2015 Kia Optim Hybrid Ex (with every option, sticker just around 37). I also have 32k miles on it. I went to the dealership to talk trade in options and they pulled my credit report from 2 of the bureaus and noticed that while my credit union gave me a better rate, they're not even reporting. Put that model and # of miles into KBB and I think you get like $14,000 or $15,000 current vaue of the car while I owe almost double that paying $470 a month. They bought up that I should just voluntary surrender it. They made it sound much better than what I am reading about it now, still a repo, but at most it'd just **** up probably 1 of my bureaus. What do yall think? I mean I goofed big time here, I also took out the loan over 7 yrs to get my payments there no many down (and gave them my 06 Grand Prix).
I joked about having gap insurance and "something" happening to the car and Meth didn't like that, so seems like my only options to pay Mercedes/BMW note for a Kia, which admittedly are extremely nice, feature filled, and reliable cars, their reputation just has to catch up, or just take that credit hit and get something that'll work better for me. I need an SUV. I saved up cash to get a cash SUV, used. Can free up that almost 5 bills a month.
I am also a Government worker with a secret security clearance, you can have a few credit bumps and things here and there but too many affect that status so I'm weighing that as well.
Sucks because I am so analytical most of the time with things, do all the research, read reviews, compare, etc and typically make such good decisions in my life but like the 3 ****** up ones I have made are the most damaging and long term.
$37k on a Kia? No shots, but you could have gotten a 2014 certified pre-owned for less than half what you paid. You didn't do your homework? Hell, for that price, you could have gotten a CPO 2015 5 series BMW. Just saying.
The other thing is the SECRET clearance. When is your next investigation due? They are renewed every seven years. That could be problem.
Indeed. Managed to get a CPO '15 Passat SE for 17k out the door. Joint was barely broken in. The VW TDI scandal really helped bring down values on all their cars, so maybe that isn't a typical example. But I watched that car for a good month or so before buying it--the price dropped about 1k every 10 days. At that point I had to do it.
I was able to get 2 CPO Passats that had monthly payments TOGETHER that equaled what I was paying for an Accord I bought new (w/ no downpayment). They won't hold their value like an Accord, but for what I paid who cares.
Had a touch over 16k on the clock. Ironically, the previous owner was an engineer at VW USA in Chattanooga (bought it in ATL). Yes, I tracked down who owned it prior to buying it lol. Gotta do that research to get a better idea of what you're buying!How many miles on the 15 passat?Indeed. Managed to get a CPO '15 Passat SE for 17k out the door. Joint was barely broken in. The VW TDI scandal really helped bring down values on all their cars, so maybe that isn't a typical example. But I watched that car for a good month or so before buying it--the price dropped about 1k every 10 days. At that point I had to do it.
I was able to get 2 CPO Passats that had monthly payments TOGETHER that equaled what I was paying for an Accord I bought new (w/ no downpayment). They won't hold their value like an Accord, but for what I paid who cares.
Had a touch over 16k on the clock. Ironically, the previous owner was an engineer at VW USA in Chattanooga (bought it in ATL). Yes, I tracked down who owned it prior to buying it lol. Gotta do that research to get a better idea of what you're buying!
SInce we're here, how does everyone feel about salvaged title cars? I had a guy on FB offer me a Yukon, it was a theft recovery hadn't even been wrecked at all. Another guy had a salvage but neglected to tell me it was, he gave me the vin though no problem and then when I told him offered to take $700 more off on it. Checked it's carfax and it had a front end wreck Georgia DMV described as moderate no airbag deployment and that's why it was savage. It has since been fixed and runs now. That was 70k miles ago