You're Not a MORON if you roll in Negative Equity THIS WAY
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- Опубликовано: 18 сен 2024
- Negative Equity - You're Not a MORON if you roll it into your car loan THIS way. The idea is you, you should only roll in negative equity to a loan or lease that has a super low APR or money factor, preferably at a minimum. In my opinion, it is always smarter to roll it in into a lease and get rid of it quicker.
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I'm a HUGE Dave Ramsey/Chris Hogan fan... I'm also a HUGE Ari Janessian fan... Love your tips Ari.. Multiple viewpoints are ALWAYS good cause not every situation is the same..
So so so true.
I was trying to follow...because I want to learn. But, the screaming was just too much for me. My head was aching...
i traded in my 2020 camaro with 9k negative for 2020 mazda cx5 with 1.9% no money down.i tell ya its worth it
Really?
Wat happened to the negative equity? Did it rollover onto the new car?
How
I have 5k negative equity and the car I want cost about $1600, it’s a pre owned camaro. I don’t want a monthly payment higher than $300. What should I do ? Keep my car now or what?
Finish paying off the car you have. Lol then you can get the one you want.
hi ari, should I get a 2008 suv or use a credit for a new one??
good job bro. just found your channel. good to see fellow hye’s on youtube . i just subscribed :)
When are we getting August best deals?
In 2021
August 🤷🤷
Love multiple vids per day
Can i get your opinion? 🙏
Purchasing a forester sport for 29k.. putting 20k down and finance the rest at 1.99%/36months sound okay? Is putting a big down payment ever a bad thing?
Depends on what else you could be doing with that 20k to make you a greater return versus the 1.99% loan you are paying on the loan.
What opportunity costs are there to this decision, are amongst the most important questions to ask yourself.
Im against new purchases due to lost equity over 1st 4 yrs. If used, 3 yrs is a long time on 9k if you can put 20k down..
Don't you need good credit to roll over negative equity?
I have a car that's worth $12k, but I owe $19k overall, so I'm $7k upside down. Would it be a smart move if I were to my car in for a used car $4k and just roll over my negative equity?
Did you do it? I’m in the same boat
@@chrislongoria4563 Nah. Nobody wanted a cut a deal with me because they didn't want to pay some of that negative equity, and they were pushing for me to get a lease 🙄 so I sold my car to Shift and bought a used car. You'll get a better deal from Shift and Carvana, but just make sure you have enough to cover the difference from their offer. For example, I had $19k on my car, and Shift offered me $15K, so I needed $4K to cover the difference. Just make sure you have a plan for another car if you really need one.
@@guillermoreyes3441 did you go to the dealership with cash/ money as a down payment for the trade?
Why do you multiply by 2400 to find the APR? Does this change if you have a different lease period, say 36 months?
No. It stays the same. It does not depend on a term. You need to convert percentage to decimals (divide by 100), then convert yearly rate to monthly (divide by 12) and then get an average for a period (divide by 2). 100x12x2 = 2,400.
So 2.4% become 0.001 MF and vice versa.
I got stuck with a lemon car that needed a new transmission and a new motor valued over 10k so i rolled some negative equity for a car that's been super reliable
Same situation, how are you financially?
@@dig5552 great no loans
Amazing videos, thank you for enlightening me. Subscribed☑️
Hello I have brand new Honda Accord 2022 with 3 k miles only ! unfortunately was involved in an accident ! Honda fixed the car paid by insurance. By now I owe 30 k on this car in payments ! Should I keep paying this car at least for an year more, and trade in for a lower price car ,or pay the total right now to avoid more depreciation ? Ps : I have ways to pay off the amount owed !
Reply
What does “rolling in negative equity” mean? I still don’t understand after watching this video.
I believe it means you owe more than what the car is worth. So if you owe 22k but the car is only worth 20k, you either pay off that 2k or roll it into your new loan.
This guy needs to tweeze his eyebrow into two eyebrows and get braces to straighten his teeth and then he would be soooo attractive 😉 😜