Quote:
Originally Posted by smartin53
OK so here's my situation. I'm trying to find the best way to eliminate my negative equity.
I currently have an 06 VW GTI and am about $7-8k upside down. While I was drooling over a 1 series car and musing to the sales guy about how I wish he could magically wish away negative equity he happened to float the idea of rolling the negative equity into a lease.
Now in my case I'm trying to stay in the $500 per month range payment wise, can't put any money down, have an excellent credit rating, and want to stick with a 36 month lease at 12k mikes a year.
The 128i I speced out is about $33k before taxes and fees.
I know that sometimes there are people knowledgeable in such things floating around the forums so I figured I'd ask and see if my idea has any merit or if I am just hopelessly wishing for something unrealistic.
The hope is I can get myself back to neutral ground within 3 years instead of 5 and then give myself better options on a new car with lower payments.
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You're just hoping for something unrealistic. The
last thing you would want to do is trade your car in. Better clean than thing up and pay the loan down to where you can sell it privately for what you owe on it. Come back after a year of working your ass off to dig yourself out of this mess. There's just no way around the economics here.
How the hell did you get that far upside down in a car anyway?:iono: