Ask Unkie Trunkie Again!
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Originally Posted by zdave87,May 19 2009, 05:26 PM
You've already mooched off your uncle's credit enough. Worse case, you can't pay the lease, Uncle EZ-8 'owes' the leasing approx $15k. (30x$500/month)
Even worse case, Uncle EZ-8 owes $23K (+ interest) on a used car on the lot worth, $15k, and the second you drive it off the lot, it'll drop in value at least $1-2K, if not more.
Even worse case, Uncle EZ-8 owes $23K (+ interest) on a used car on the lot worth, $15k, and the second you drive it off the lot, it'll drop in value at least $1-2K, if not more.
) they did a credit check on me, and I have very good credit, because of the lease now. It's just lack of history that hurts me.Also: I have no problem making the monthly. That's not the issue, it's just the fact that the monthly is so high, and it'd be nice to pay less.
That is why I haven't done anything yet with the car. I DON'T want to roll over the $8k in negative equity unless I have no other smart choice. And since I made the dumb one in the first place, that's why I'm asking people who've "been around the block"
Ask UnkieT
btw.
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Originally Posted by 8D_In_Trunk,May 19 2009, 05:26 PM
They're willing to do anything. . . at a cost.
However, think about it:
$8K at ?!?!?!? APR vs. (30mos. x $512/month)
That's how you balance the formula. See what APR is on the table.
However, think about it:
$8K at ?!?!?!? APR vs. (30mos. x $512/month)
That's how you balance the formula. See what APR is on the table.
FTR, it's only 22 months, not 30.
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Bend over, grit your teeth for another 30 months. Between now and then, generate more cash.
Don't bother getting the Element. There's no fiscally good situation out of this, despite whatever I may have previously said. You should've just bought the car. . .
Don't bother getting the Element. There's no fiscally good situation out of this, despite whatever I may have previously said. You should've just bought the car. . .
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That's what I figured I do. But I'll be bending over for 22 months.
And buying the car would've meant more payment because I wouldn't have had the "special" apr they were offering for lease vehicles. And I say I would have had more $$ payment, because I would have been stupid enough back then to still pay it.
And buying the car would've meant more payment because I wouldn't have had the "special" apr they were offering for lease vehicles. And I say I would have had more $$ payment, because I would have been stupid enough back then to still pay it.
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Originally Posted by espelirS2K,May 19 2009, 08:36 PM
That's what I figured I do. But I'll be bending over for 22 months.
And buying the car would've meant more payment because I wouldn't have had the "special" apr they were offering for lease vehicles. And I say I would have had more $$ payment, because I would have been stupid enough back then to still pay it.
And buying the car would've meant more payment because I wouldn't have had the "special" apr they were offering for lease vehicles. And I say I would have had more $$ payment, because I would have been stupid enough back then to still pay it.
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Originally Posted by zdave87,May 19 2009, 05:37 PM
But--and don't take this the wrong way, you are being even more stupid attempting to over-finance a used car.
And if, in fact, I didn't explain that in my posts, it was already in my thoughts. I had told my mom earlier I was keeping the car (to her disappointment for less insurance payments) because I didn't want to roll $8k in to a $15k car.
I may be young and stupid, but that was also a year ago--and I'm paying for it.
why?