people who are familiar with buying/leasing cars, help a negro out

[calveless wonder]

Ok...so i'm kinda fucked but wanted to see what i can do.


I got stuck in a shithole lease for my Audi that ended recently. It was a 4 year lease and i got dicked on miles. I basically have 20k of excess miles on the car (driving from miami beach to boca raton everyday didn't help for almost a year)

anyways. I was thinking of buying the car and refinancing while obtaining an extended warranty but i honestly hate this fuckin car at this point. its cursed (I got into a major accident with it, no frame damage tho) and now that i'm over 60k miles, something new always pops up with it. I'm upside down and stuck with negative equity no matter what

If i turn in the car, im gonna get binged for excess miles and late turn in fees. But i was thinking of maybe turning it in and having them roll that into the new lease price and basically finance it?? is that possible? Idon't have the money to pay that out of pocket, no fuckin way.

NO matter what, i'm going to be upside down. but i rather be in a new car upside then trying to pay this fucker down to where the negative equity isn't as significant.

if i kept the car, it wouldn't be for more than 1 to 1 and a half years when i could actually pay it down

 

[ortiz34]

not sure about the buy vs lease part

Personally I'd buy

best buys are something about 2-3 years old bro
Economy is in the tanker, keep things simple
buy a accord or a subaru 2.5 GT turbo

 

[miplank]

no offense,


But why the fuck to people roll their negative equity into a new car? You are only buring yourself farther, and a year or two down the road when you want a new car you're going to be in the same damn boat, only worse!

Suck it up and stay with this car until you are at a break even point, or have some positive equity. Oh, and don't lease a car ever again.

 

[miplank]

oh, and depending on how much negative equity you're looking at, banks might not even finance you. Typically (depending on credit score) they will only go 125% of retail (that's with perfect credit) and that 125% is including TT&L. Service contracts don't come into that equation, so you'll be okay adding one of those.

 

[calveless wonder]

no offense,


But why the fuck to people roll their negative equity into a new car? You are only buring yourself farther, and a year or two down the road when you want a new car you're going to be in the same damn boat, only worse!

Suck it up and stay with this car until you are at a break even point, or have some positive equity. Oh, and don't lease a car ever again.

leasing is fine. problem with the lease was the length and the annual mileage. i didn't know any better. i was 21 and just happy to have the car

i really don't give fuck about burying myself at this point. My income is shit right now and will increase as i get shit together.cars depreciate like crazy no matter what. I rather be happy and drive a nice new car while i'm still young. By the time i can pay that bithc off it'll just depreciate more. Granted, i can lessen the gap but i hate that car now.

 

[miplank]

leasing is fine. problem with the lease was the length and the annual mileage. i didn't know any better. i was 21 and just happy to have the car

i really don't give fuck about burying myself at this point. My income is shit right now and will increase as i get shit together.cars depreciate like crazy no matter what. I rather be happy and drive a nice new car while i'm still young. By the time i can pay that bithc off it'll just depreciate more. Granted, i can lessen the gap but i hate that car now.

That's the problem...you'd rather bury yourself in debt and drive a nice car. Stupid man....you fucked up, now stick with the car for a while longer and you'll actually end up coming out not so bad in the end.

See, you leased a new car..the depreciation took it's majority of a hit already (not to mention you get fucked leasing in the long run).

You asked for advice, and this is what I do for a living. Sounds to me like you already have your mind made up, so why even make a thread?

Here, I'll just validate it for you.

Hell yeah man, fuck this car! Roll all your negative equity into a NEW car only for it to depreciate even more again and get yourself farther into debt! But hey, you'll look good in that new car!

 

[rnch]

u r not the only one getting diddled on excess mileage charges on leases...it happens more often that is known.

i have to laugh at myself when i hear dumbasses brag about leasing bmw's and paying "nothing for routine matienance" for the whole time of their lease. didn't they read the fine print in thier lease about "maximum 12K miles per year"? how many peeps drive that little anymore??

just like you, they will get a very costly, unpleasant surprise at the end of their lease.

 

[calveless wonder]

That's the problem...you'd rather bury yourself in debt and drive a nice car. Stupid man....you fucked up, now stick with the car for a while longer and you'll actually end up coming out not so bad in the end.

See, you leased a new car..the depreciation took it's majority of a hit already (not to mention you get fucked leasing in the long run).

You asked for advice, and this is what I do for a living. Sounds to me like you already have your mind made up, so why even make a thread?

Here, I'll just validate it for you.

Hell yeah man, fuck this car! Roll all your negative equity into a NEW car only for it to depreciate even more again and get yourself farther into debt! But hey, you'll look good in that new car!

hahaha. way to show tough love. i see your point bro. financially it makes sense. I just honestly hate his car so much at this point that my emotions are interfering with fisical responsiblity

 

[puddlemonkey]

hahaha. way to show tough love. i see your point bro. financially it makes sense. I just honestly hate his car so much at this point that my emotions are interfering with fisical responsiblity

How come when I show you tough love I'm an asshole?

 

[puddlemonkey]

http://www.elitefitness.com/forum/c...kind-car-should-i-buy-572142.html#post7748269

http://www.elitefitness.com/forum/l...y-new-models-though-567763-5.html#post7674884

http://www.elitefitness.com/forum/chat-conversation/buy-lease-car-586855.html#post8000528

http://www.elitefitness.com/forum/c...ars-vw-lease-good-one-598755.html#post8236542

http://www.elitefitness.com/forum/chat-conversation/taking-over-car-lease-593067.html#post8121060