[Derek Sutton]

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.

Anyways, as an actual answer, I would suggest she talk with whoever the financing is with (Bank or the manufacturer financing company). I dont think I've ever seen financing through a dealer themselves (Aside from the shady used car places that are also loan sharks), so as long as it was a typical dealer they effectively have nothing to do with the financing once its off the lot.

Advantage there is you're likely dealing with a bank or manufacturer's credit company, and both of them have dealt with this situation plenty and should know the options and impacts.

Originally Posted by bagofpucks

They got talked into every little extra. So extended warranty, maintenance package, fancy wheels for the winter tires, 3M...the works. Of course, those items don’t hold any kind of value if you keep the vehicle for less than two years...haha. The biggest issue is it’s a domestic SUV. They completely drop like a rock in regards to depreciation.

Yah if that’s the case they likely haven’t even started making any payments toward the actual vehicle itself. Two years in average depreciation is 37%, 10-12k backwards is very common.