Loan Questions

Can you hide negative equity in a new car? related questions

  • 1Can you hide negative equity in a new car?

    I'm looking to get into a new car. I decided to go through the car sales business. I still owe on my current car 9k and its only worth 3k (yes I know) , so I'm upside down 6k . The seller says they are able to hide much of the negative equity into a new car that has a blue book price yet. Is this true ? and if so, exactly how much they would be able to hide ?

  • 2How can I have this much negative equity?

    I bought a new car a year and a half ago . I had a bad credit score of 525-550 and was needing to buy the car for the weekend for work . The car dealer said that based on my credit that would be difficult to get me a loan. I ended up with a loan that had an extended warranty , and they said they sent the bank making the loan . Final funding was 18% and a total of $ 27,000 after taxes, title and license $ 1,000 down. Now I 've put 46,000 miles in that time and just found out I 'm $ 10,000 in negative equity ... How do you do that? The car dealer I now can not believe and are saying that I screwed up somehow.

  • 3What's the best way to get rid of negative equity on a car?

    I have a Ford Edge and was told that if I rolled over in a high-end vehicle like a Toyota Land Cruiser , which in two years will have been absorbed. I do not think so, but wanted some opinions.

  • 4My car has 10k in negative equity, what to do?

    I traded in my 2008 Scion TC for a used 2004 Mini Cooper S. The Mini has always been my dream car so I went for it and ended up in negative equity 3k . With taxes , fees and negative equity left about 10k more than I expected . 1st question : What I can do to get out or better this situation ? 2nd question : The value of my car is I owe 24000 and 30000. Is there a bank crazy enough for me to refinance a loan of seven years ? I have really wanted to keep this car , but I can not keep up with payments of $ 500. And I do not want to trade again, because that is financial suicide for me . What to do?

  • 5Negative Equity What to Do?

    I purchased a new home in 2007 at the peak of the bubble. Since then I have continually made the payments without question. I am now about 200K (50% of the original purchase price) in the hole. I now wish to move out of the city to a small house in the country with some land so that I can be closer to my horses. What are my options now? I believe that I have good credit, but I have not had my credit checked since I bought this house. Would the bank be willing to give me another loan even though I have this current house. Would I be required to show a good faith letter from a possible renter to remove the debt of the current mortgage or would this not help at all? I do not want to let the house go into foreclosure, but I am afraid that I will not be able to recover the 200K in negative equity. I am also afraid that if I do not do anything now with all of the programs and everyone else doing it that I will not be able to do anything for quite some time. I am just looking for some advice as I feel stuck right now and do not know what to do.

  • 6$10,000 Negative Equity In A Car?

    I have a 2010 Altima , I have negative equity in it , now I have a baby and 2door sports car is no longer functional ... Is there any way out of this, I also read about leasing helps pay the negative equity is this true ? I never will again, the next vehicle I pay and live forever lol

  • 7Getting out of negative equity with new car?

    Ok , I made a financial mistake and I learned my lesson. I bought a new car ......... depreciation is chornic . I owe $ 25,000 on my car is worth $ 18,000. Is there any way to lower my payments / out of this situation with the least amount of damage . I do not care if I'm driving a car for $ 1,000 or whatever . Would it be possible to buy a car for $ 1,000 to trade in my $ 18,000 car so you end up with a loan of say $ 7,000 to $ 1,000 a car , so my payments would be much lower ? or not that will happen?

  • 8Tradein in car with 10K negative equity.?

    I have a Honda Accord 2007 EXL with navigation , sunroof , leather , etc. .. I bought it used in 2011 with 51'000 KM 's on it. Km not Miles. I paid $ 31,000 for it , but before you gasp , there was - $ 4000K brought an escape traded in , plus you bought the bumper to bumper warranty , taxes , oxidation , etc. .. Anyway, my car payments are too high, I can pay but just and free up some $ I would like to trade in. The problem is that although I got the loan to $ 24K , the car is sold for 13 - 15K 16K ... perhaps. What is the feasibility that any dealer can do a trade -in? I would fall into a citizen , or a car about 8 - 10k , but likey negative equity now how someone takes in a trade ? I have very good credit , so that part will be fine .

  • 9I need to move but have negative equity?

    Hello , I need some advice / help ! Currently I have a mortgage on my house and a couple of secured loans. The mortgage amounts to 23K , the first loan guarantee ( with the mortgage provider ) amounts to 21K and a second secured loan amounting to 29K ( 73K in total) . In today's market , I would estimate the value of our house to be in the late 50K 40K early region . We would love to move to a bigger house and we were looking for in a rental property. Do not worry about walking away from our current property, but just wondered what would be the situation with respect to the large amount of negative equity we have! Obviously we would have to pay for this, but none of the secured lenders allows us to sell and pay the remainder with an unsecured loan ? Surely they can not be the only people in this situation , now or in the past. Does anyone have any advice ? Thank you very much .

  • 10The house we are trying to buy is in negative equity?

    we have been informed that there is a problem due to the fact the sellers of the property are in negative equity.This as only come to light now all suveys have been carried out and the sale of our own property is nearly complete.We have been informed by the vendors EA that if they cannot arrange a loan to cover the negative equity the property will be repossessed.Having spent time and money on our hoped to be future home we are wondering where we can go from here?

  • 11How to get rid of a lemon with negative equity?

    Alrighty ... so I bought a used car about 9 months after a $ 7,800 extended warranty , tax, title , etc. I now owe $ 6100. the car is worth $ 4500 to a private party , or about $ 3000 trade in. Here 's the problem: I've put about $ 2000 to fix the car because the car keeps breaking over and over again .. Heres my question . Is there any way for me to get out of this car? Do not I have enough money saved up enough to pay it and sell it .. but I have negative equity in the car too to trade with my short credit history . I have excellent credit history , it's just that im 19 and have only had the loan for 9 months and a credit card for about 2 months ... any ideas? thank you very much .

  • 12I have a lot of negative equity in a car, I need some advice please.?

    Mom traded for April 1 Acura TL , trade came neg equity. Well, she decided she did not want more and the car became my responsibility. Since I have the tranny has left us twice in about four months within the two times I've had problems with the tranny I had problems with the battery too. Due to school and work I'm seeing a lot of movement , I need a little more confidence . I'm about 5k backwards! I was told to get a new car because it gets rid of negative equity . Does anyone know about the car business , you should keep it and cross your fingers , trade a cheap used car , or trade for a new car . Thoughts please , do not trust the advice of car dealers.