Negative equity

[FNR8DRZ]

Remember the bank will only finance 120%

I couldn't even refinance 3 months after owning the car.

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[rocks]

Remember the bank will only finance 120%

I couldn't even refinance 3 months after owning the car.

With all the repos, banks choose carefully whom they give loans to.

 

[TheX]

People get tired of that "new car/truck" long before it's paid for. My trade-ins were 9 and 11 years old.

My BS was $16k out the door after those trades. I'll never be upside down again. It's hard to not want the newest thing but resisting that can save you a LOT of money.

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