Finally gave in
04-24-2007, 01:08 PM
#12
2nd Gear Member
Join Date: Nov 2006
Location:
Posts: 361
RE: Finally gave in
Umm, negative equity is simply how much your car is worth vs. how much you owe on the car. The posts above are actually depreciation.
You bought your car for 23k and sold it for 19k. Your car depreciated by $4000.00
Lets say that you owed 20k on your car and sold it(or traded) it for 19k, you would have $1000.00 of negative equity that will be applied to your new purchase.
You bought your car for 23k and sold it for 19k. Your car depreciated by $4000.00
Lets say that you owed 20k on your car and sold it(or traded) it for 19k, you would have $1000.00 of negative equity that will be applied to your new purchase.
04-24-2007, 02:46 PM
#14
2nd Gear Member
Join Date: Aug 2006
Location: New Jersey
Posts: 440
RE: Finally gave in
thats awesome, congratulations, i would do the same if the dealer gave me that much for my car. i have had enough of my v6 especially with it stalling out on me on the highway the other day - post to come ina minute
04-24-2007, 04:03 PM
#16
3rd Gear Member
Thread Starter
Join Date: Feb 2006
Location: Muskegon, MI
Posts: 538
RE: Finally gave in
Sorry for not clarifying.....
I bought the car straight up in 2006, in full. I HATE paying interest and all that, so I paid 2/3 of it on my own (I am young) and my parents loaned me the rest. As of now I owe my parents 4k then the 6.8k I just upgraded with so rougly 10k now I owe them. Yeah Yeah mommy and daddy helped me but its not like they actually are paying for any of it, just loaning me until my 3 jobs covers the rest. So worth it!
I bought the car straight up in 2006, in full. I HATE paying interest and all that, so I paid 2/3 of it on my own (I am young) and my parents loaned me the rest. As of now I owe my parents 4k then the 6.8k I just upgraded with so rougly 10k now I owe them. Yeah Yeah mommy and daddy helped me but its not like they actually are paying for any of it, just loaning me until my 3 jobs covers the rest. So worth it!
04-24-2007, 06:25 PM
#20
3rd Gear Member
Join Date: Mar 2007
Location:
Posts: 843
RE: Finally gave in
ORIGINAL: nonstopred
wow I could sell my car now and make a profit.... I have <2000 miles on my car and it was 23655 on the sticker, and i paid 17, you think i could get 20?
wow I could sell my car now and make a profit.... I have <2000 miles on my car and it was 23655 on the sticker, and i paid 17, you think i could get 20?