Re: best way to beat it is come down under! LOL! :) - Saab General Bulletin Board - Saabnet.com
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Re: best way to beat it is come down under! LOL! :)
Posted by fsik (more from fsik) on Tue, 6 Jul 2004 06:25:05
In Reply to: best way to beat it is come down under! LOL! :), sab, Tue, 6 Jul 2004 01:58:08
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oh, upside down is when you owe more on a car than it's worth. So, even if you get a great offer for it, you'll still have a balance due on the loan.
On a single car, it may be because the car depreciates faster than the loan gets paid off (depreciation isn't a straight line, it's worst at the beginning). It's made worse by longer-term loans, really low downpayments, etc.
It can also get amplified when you keep buying newer cars and cover the last car's shortfall in the deal for the new one. I think that's what JB means by 'on my last car'.
--fsik
posted by 68.175.120...
Posts in this Thread:
- best way to get out of an upside down situation?, JB, Mon, 5 Jul 2004 16:05:33
- Re: best way to get out of an upside down situation?, Erik W, Wed, 7 Jul 2004 16:21:55
- Worse and worser......., Mike Lynch , Wed, 7 Jul 2004 11:35:00
- My tactic to avoid being upside-down..., James D, Tue, 6 Jul 2004 10:35:23
- You know the answer, pay it off..., JBinDC, Tue, 6 Jul 2004 06:18:46
- you're not Erik Carlsson are you?, Trev, Mon, 5 Jul 2004 17:15:27
- upside down situation? (sorta long), fsik, Mon, 5 Jul 2004 16:39:25
- Just drive it forever, into the ground, no? n/m, AlexA, Mon, 5 Jul 2004 16:24:53
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