Archive for the ‘Checksmart Dayton Oh’ Category

Upside-down SUV

Wednesday, February 26th, 2020

Upside-down SUV

Dear Mary: After many years of investing our cars in and updating each time, we’ve got a large 2019 Chevy gasoline guzzler. We owe $33,335 on a loan that is zero-percent.

The value that is top in line with the Kelley Blue Book web web site, is $22,930 whenever we offer to an exclusive party and $19,510 as a trade-in.

My partner doesn’t think we are able to get out of this. We actually regret most of the bad alternatives we made and will be happy to drive something less costly. We just have actually $3,400 in our crisis investment. What exactly are our choices? — Greg

Dear Greg: You are “upside-down” in your loan into the tune of at the least $11,000, meaning you borrowed from that alot more on this automobile than it really is well worth in the market that is secondary.

Regrettably, that is a rather occurrence that is common these times of long-lasting, zero-percent interest on brand brand new auto loans. (more…)