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

[Arabian]

One simple solution. Buy within your means and you will be fine. Leasing is only an option when the entire purchase can be run through a corporation.. I have people that are 10 to 15 k upside down and they roll this into new vehicles... the only problem with this is that the new vehicle has to be loaded to the gills to help offset the neg equity for the lending institution. Buy within your means... it may be a $1500.00 purchase or a $500.00 purchase per month.. bottom line..

 

[calveless wonder]

One simple solution. Buy within your means and you will be fine. Leasing is only an option when the entire purchase can be run through a corporation.. I have people that are 10 to 15 k upside down and they roll this into new vehicles... the only problem with this is that the new vehicle has to be loaded to the gills to help offset the neg equity for the lending institution. Buy within your means... it may be a $1500.00 purchase or a $500.00 purchase per month.. bottom line..

that's what i was doing.

btw i was hoping you'd chime in lol. i knew you were one of the experts on this

thanks

 

[ortiz34]

take the advice here bro, keep it simple
you're searching for happiness in all the wrong areas

 

[Cutiebaby]

imo leases suck

 

[SpyWizard]

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

It's insured right?? you have gap insurance on it?? make sure.. accidents happen all the time.. did you know that if a vehicle is flooded, especially with ocean water it gets totaled..??

 

[PICK3]

Ok...so i'm kinda fucked

you're knot kinda ... you are fucked

 

[calveless wonder]

you're knot kinda ... you are fucked

no. being fucked would be driving a yaris

 

[miplank]

One simple solution. Buy within your means and you will be fine. Leasing is only an option when the entire purchase can be run through a corporation.. I have people that are 10 to 15 k upside down and they roll this into new vehicles... the only problem with this is that the new vehicle has to be loaded to the gills to help offset the neg equity for the lending institution. Buy within your means... it may be a $1500.00 purchase or a $500.00 purchase per month.. bottom line..

I'm sorry, but you're not going to find a bank that is going to finance 10-15k of negative equity into a new vehicle purchase. Well, it's possible...For instance if he's buying a super high end vehicle to where 125% of book value is going to leave that 10-15k window, or the dealer is going to sell him a car considerably back of book (most likely isn't going to happen on an upside down trade situation).



Either way, suck it up and drive this car until you can afford to get out of it the right way.

Or pray you wreck it (hope you have GAP) or it gets stolen.

 

[miplank]

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

that's easy....cuz you're an asshole!