How to get rid of that car you just bought *Upside down on loan*
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- Опубликовано: 31 май 2023
- How to get rid of that car you just bought Upside down on loan
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I have a 2018 Ford F-150 XLT its has around 94,000 miles I pay $868 a month and have a 15% apr I wont to trade in but I am upside down on it, most dealers telling me I need 9 to 10 grand down, I am still working on rebuilding my credit its tough when you is self empolyed and works part time.
Shoutout to Que for dropping these gems! I was wondering the same thing like “How he does it?!”
I didn’t know about the lease part because I rarely lease cars but that was insightful
Much appreciated Ant! I'm dropping dimes out here
It’s called Gap insurance put that mug in a wall 🤣
😆😆😆
I always seem to total my vehicles soon as or just about when they're paid off.😅 thats my secret sauce to ride clean, never fails.
Man that’s unfortunate
How ??
@@TwoMill idk kinda works like upgrading your cell phone these days.
Awesome video brother I luv how you're always helping people make sound financial decisions.
I'm trying man. Thank you,
@@QueTheChaotic You're welcome brother.
I never thought about leasing. This was very helpful. Thanks!
Glad it was helpful!
another great video! Super intersting topic, please keep these videos coming. Also dont know what you going to do with your teggy, but I hope you keep it. Everytime i see it , I smile :)
Thanks a lot! Will do
Professor Que just educating the kiddies today on the perils of upside down loans!
Kiddies and elders alike lol
This was very helpful bro. I'm not looking to get out of my M3 as i'm most likely going to keep it, but I've been tossing the idea around of getting a G80 M3.
It's always good to know where you stand
Great video. 👍
🔥🔥 Thanks bro!
My pleasure
Great content as always! Been watching your videos since the GT350, or maybe longer than that lol. Now, are the interest rates lower to buy a brand new car versus a used one in todays market? I’ve been itching to get my hands on a ZL1, preferably 2020 and up since the older models have the oil pump issue.
That's smart you know to avoid the early ZL1s. The interest rates are higher on used cars
@@QueTheChaotic would it be better to lease a new ZL1 or to purchase one? I know in the past it’s been a cheaper car payment to lease one and then do a lease buy out when the lease deal is up after 3 years and what not. With todays market it seems like everything shifted ya know.
@@joshdearie4936 I feel you on that. I would run the leasing numbers to see if they make sense. Not sure how much they lease for.
Your letting out all the secrets now man 😅 but this is all very true. The same way Ive done it. If you dip out of a car before 3 years private sale is really the way to go usually. Sold my first 1le to Vroom. We have the same methods haha. Keep it up man
😆😆😆 great minds! Thanks a lot!
If my integra type s wasn't coming so soon I would private sell my car honestly but I'll probably try carmax, sell the car back to the dealer I got it from or see how much the acura dealer would give me for trade in
Bro you my dude 💯
What up Don?! I appreciate you
@@QueTheChaotic yes sir it’s me! It’s funny I ran across this video LOL! Im trying to trade in my 2SS towards a C7 but I got over $12k worth of negative equity with it ….
@@V8_Gang that’s the hard part bro. Best to sell it privately. Good thing is that prices are coming down on the Vettes
@@QueTheChaotic my credit is not GOOD at all
Oh dang we gotta get that raised up@@V8_Gang
Dropping jewels for the youth. Pay attention kids.
What’s the best way to sell my car that is paid off? I want to sell privately but seems a bit sketch to make a $30k transaction on the streets.
I would try the online dealers. I hate selling expensive cars personally but I handle those transactions at a bank
I’m a little bit confused, I have a financial car through Toyota it self so if sell this car back to them and lease from them what’s gonna happen to the negative equity
You have to pay it back or roll it over. They only roll over a certain percentage
@@QueTheChaotic 🌷
I got screwed on a bad lease and I have over 10k negative equity on a new Accord I want to get a Elantra N or an Accord touring 2.0T could you help me out bro. Need advice, good credit.
How much time do you have left on your lease?
@@QueTheChaotic 23 months
Same situation here with a fusion. Been paying it for a year now and will try applying for a auto loan finance and also check out dealership options for trading it in. I’d rather lose some money than keep paying forever this negative equity on my vehicle
Do you know what the value of your Acura is? I took mine to Honda and they offered me 30000 for it.
It's all over the place. 28-34k
If I sell it privately, how does the transaction work for the lender to release the lien on the car?
The lender would have to receive a full payment on the loan before the lien is released. I normally take the buyer to the bank with me. They hand a cashiers check to my bank and I make up the rest of the money if needed. The bank can print out a release of lien letter that day.
@@QueTheChaoticbut then you get no money from the car? If you’re paying negative equity on the car and sell it privately the buyers money will only be enough to pay off the car and I’d lose all the down payment+monthly payments I’ve made on the car so far
so i have a 2013 mazda 2 with 106,000 miles . loan is $15k and 25%apr.. the vehicle is only worth $4k… im aware of all the ways i can get rid of this thing, including ramming it into a wall, but i need a 3rd party advise 😭. SOS
Lol!
This the video I wanted to see lol
Wym Carvana payed off yo loan
I sold them my car and they paid what was owed to my bank
I got a 22 Ford Bronco Sport I owe 40k onit carmax said my trade in value is 29k - can u help me get it outta it !
What was the MSRP?
@@QueTheChaotic i think it was listed at 34k - MY credit sucks so I paid 41K
@@princeali2555 sheesh. I think private sell is your best bet
@@QueTheChaotic buy it from me - set me free LOL
What you end up doing? I’m in the same boat. I got a 23 Accord and I’m tryna get a Hyundai Elantra N. I’m way upside down lol
My car insurance just keeps going up and im ready to get out of this loan 😭😭
Yes
🥈
Yes? As in, yes you got 2nd? 😂
@@RaceCar21 😆😆😆
@@QueTheChaotic He likes to give me 💩, I'll give it right back.
@@RaceCar21 looks like I’m going to have to send you back to editor village next upload 🔥🔥🔥😤
If you are going to be upside-down on a car, you can't afford it. People even financing the sales tax. Get a car, not a debt trap. Things go south and you end up stuck with a car and payment you cant afford. Don't be one of those clowns in the food bank line with a late model car, thats just tacky!
$$$$ is still king, just saying. Bought an Integra A spec tech package with a manual. 24 model year, supposed to be built this week. Either grey or white, they have not told me which yet. (of course, red interior) Supposed to be here end of the month beginning of July. This is for the wife. Also sourced the stuff for a real spare tire. I guess you don't own your cars long enough to get a flat? Nice!
I've had a couple of flats over the years.
RCF
🥉
Whew at least I got third!
@@RaceCarFriends Lucky
@@RaceCar21 😆😆💯
1
🏆
@@QueTheChaotic 🏁
4th
Yeet!
Video was very helpful! Been thinking about getting rid of my daily and get something different🫡
Thank you
So I can keep the bread if I sell the car? Can I sell it even if I still owe on it?
If you owe on it you can’t complete the sale unless you bring the rest of the funds to the bank to release the title
If you want to sell an enthusiast car privately, consider @Dougdemuro "Cars and Bids." You can list all your vehicle's "quirks and features." Just a thought. 😂
Lol! This is a great idea too. Cars and Bids came in and took over.
@Que_The_Chaotic
Watching his latest review as we speak, the R34 Skyline GTR. Currently for sale on, you guessed it, "Cars and Bids." 😂😂