Getting rid of neg equity by leasing a new vehicle? How does it work?
The negative equity for both cars is around 9000. Is it possible for me too trade in both cars towards a lease on one car and if so would a long term lease (3 yrs or something) ultimately get rid of the negative equity? Or is 9000 combined negative equity just too much?
Sorry you are so far in debt on your cars, that is not uncommon. Driving them out is about the only way to work this out.
Buying a Chevy, Ford or Chrysler is a good start, they will often go over 250,000 miles with minimal maintenance if they are kept up.
And buying American brands keeps most of the profits in the U.S., keeps American workers working paying high payroll taxes and helps pay for all our community programs.
Categories: Equity
Nothing gets rid of neg equity unless the car you are buying has huge rebates and discounts that can be applied to the 9000. All you are doing is consolidating the equity into a new package.
That 9000 has got to come from somewhere, and any way you slice it, you will have to pay.
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You can never get rid of negative equity no matter how creative u try to get. You will just it larger by trading it in.
Keep them and continue making payments until they are paid off. Hope u learned a lesson and not overpay for cars with poor resale value like the Big Loser 3.
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Sorry you are so far in debt on your cars, that is not uncommon. Driving them out is about the only way to work this out.
Buying a Chevy, Ford or Chrysler is a good start, they will often go over 250,000 miles with minimal maintenance if they are kept up.
And buying American brands keeps most of the profits in the U.S., keeps American workers working paying high payroll taxes and helps pay for all our community programs.
References :
And buying American brands keeps most of the profits in the U.S.,
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Which profit-making "domestic" brand would that be?
Nice try.
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