Personal computing discussed
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Krogoth wrote:Care to enlightenment me?
XorCist wrote:yea but how does one get rid of a car that has a loan that is 9K upside down? yea our payment is 426/month
clone wrote:it's nice to buy something new vs someone elses junk.
canmnanone wrote:hey OP here is what i did with my car when i couldnt afford it any longer to pay on it. i went back to dealership that i bought the car and i asked them if they could help me out. i told them that im having some financial difficulties and if they have a program to buy back my car. and they did and we settled on a price and i walked away only owing less than 4 grand on the car. now this saved me two thinngs. one is the humiliation of having everyone outside watching me get my car repo. two is i saved my credit worthiness and it lowered my credit scored to less than 750 but still above 700. i had over 800 in credit score. you will want to protect that number of 700 if you can as thats the threshold for getting a good interest rate. hope this helps..
XorCist wrote:canmnanone wrote:hey OP here is what i did with my car when i couldnt afford it any longer to pay on it. i went back to dealership that i bought the car and i asked them if they could help me out. i told them that im having some financial difficulties and if they have a program to buy back my car. and they did and we settled on a price and i walked away only owing less than 4 grand on the car. now this saved me two thinngs. one is the humiliation of having everyone outside watching me get my car repo. two is i saved my credit worthiness and it lowered my credit scored to less than 750 but still above 700. i had over 800 in credit score. you will want to protect that number of 700 if you can as thats the threshold for getting a good interest rate. hope this helps..
what did u do to get another car tho? we have no savings to go and buy another car. we're already a 1 car family as it is.
clone wrote:Yes, but the problem with new cars is they lose a huge amount of their value in the first few years; so if you finance most of the purchase cost, the loan is underwater until you've got it half paid off. That's not a good place to be if you're on shaky financial ground to begin with.
vs a night out for dinner where you lose 100% of the value by morning, or going on a vacation which loses 100% of it's value 5 seconds after boarding the plane home, vs buying electronics vs buying a boat,