Quote:
Originally Posted by Ducay
Sorry, Im trying to do the math. How do you end up negative 12-14k equity on a 2019 SUV? Even a pricey domestic that has terrible value retention shouldn't be that far underwater unless you had some insane financing terms, like no payments for 2 years or something, or it was involved in an accident or had 200,000km on it.
|
I've got a friend in this situation, keeps trading in a car that is still negative and gets another and the dealers "make it work" and all she sees is the monthly payment. I think she's on her third car in a couple years and owes at least 15k more than she could sell this one for.
Some of these finaciers deserve what they get when people are in over their heads and have to hand in the keys but all they get is a loss to write off instead of a terrible credit score.