Cars & Transportation: Buying & Selling: “Question: Trying to understand how to buy a car while being upside down on current loan, but need another car?” plus 2 more

Question: Trying to understand how to buy a car while being upside down on current loan, but need another car?
Question: What truck do i buy?
Question: Seeking leagle advice on car dealer?

Question: Trying to understand how to buy a car while being upside down on current loan, but need another car?

Posted: 23 Sep 2016 08:41 PM PDT

For 95% of people, sucking it up until you are no longer upside down is the smart move.

You'd need very good credit to roll any over and all that does is make you further upside down.

For example, if you are $1500 upside down now, you would be $4000+ upside down after you trade. So you aren't helping yourself any.

When you are in a hole, STOP DIGGING.

Until recently, I drove a 94 model for the last 12 years despite being a millionaire.

Just because I'm tight. I recently went hog wild and upgraded to a $9000 car. I think, at least partially, because of some medicine I was taking for RLS that can encourage excess spending. In my case, I think it did. But, I like my newer car even though its value has tanked by about $1000 over the last 5 months. I expected about $500.

But, I will have it for 10-12 years so it will all come out in the end.

Question: What truck do i buy?

Posted: 23 Sep 2016 08:12 PM PDT

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