Put myself into a dumb situation. I blame ignorance and youth on it and will learn from my mistake. Bought a new truck a few years back and I'm pretty upside down on it, around 10k. I owe 30k on the vehicle and estimate I'd get around 20k as a trade in.
If you were in my shoes, what would you do?
1. Trade the truck in for a cheaper vehicle and roll the negative equity into the new loan. Thinking 20k or under so I can be back at 30k or less with lower payments.
2. Keep the truck and refinance, then make extra payments to get positive then sell it.
I want to get rid of it while I can for a lot of reasons. It's going down in value rapidly because 2wd, already has a mechanical issue that I will pay for out of pocket, and the payments, as you guessed, are high.
Any help is appreciated here. I know I fucked up on this but just trying to find the best way to handle things moving forward.
sell it dude, its better to owe $10k than $30k, specially if you know its fucked.
Jaxon Jackson
I remember reading this EXACT thread like 6 months ago
Aiden Rivera
>2wd truck >blaming youth
Only the dumbest fucking retard on the planet would buy a pickup truck without 4x4. I refuse to waste my time helping you on that basis alone.
Joshua Morgan
Shut up ya faggit I have a 5.3 2wd that is cash
Elijah Allen
No you don't bitch
Ethan Jackson
Do you have car insurance? If so, maybe leave the parking brake off while on a steep hill.
Josiah Hill
Yup tuned and piped purs like a kitten
Ryder Smith
Wow this board actually gives good advice sometimes
Bentley Morales
Sell and buy the best car you can buy with cash retard
Jaxson Young
Sell and buy the best car you can afford with cash retard. Don’t fall for the new car meme
Nathaniel Scott
Or this, if you don’t want to deal with idiots selling. Depending on insurance company you’ll get more for it totaled than you would selling it private party/trade in.
Hudson Martinez
The implication is that your vehicle cannot even objectively be considered "cash".
>5.3 2wd "All" that power that your "big" 5.3 is producing is for what purpose here? What if you have to use that vehicle for work? user, you did buy a truck as a utilitarian vehicle, and not a lawn piece, right?
Samuel Morgan
yeah your mistake was buying a new car. Never buy a new car, it's basically a tax on stupid people like the lottery or credit card interest.
I know this will come off as LARPing/bragging but I make six figures and so do all of my coworkers and I'd say nearly half of these people drive crappy used cars even though they could easily afford better. I know VPs that make half a million per year and they drive crappy used cars. Warren Buffet drives a crappy used car.
And yet lower-middle-class people will shackle themselves to an auto loan for 5 to 7 years, with very little discretionary income left over, just so they can show off their shiny new truck to their friends and neighbors.
So now regarding your question, I'd keep the truck, refinance at a lower interest rate (if your credit score is better now than it was then), make as many early payments as you can on the refinanced loan, and try to keep the truck running for the next 20+ years, so you can get your full money's worth out of it. What I would NOT do is continue talking yourself into getting another car and taking on more auto loan debt.
T. Worth over half a mil, drive a used Dodge I paid 14k for back in 2012. I take care of it and it takes care of me.
Christopher Brown
new cars are a meme
why are you taking loans on cars? if you can't buy in cash, then you can't afford it
Cooper Adams
This my brother and I both got Camaros in 2014 as my grandparents past away. I payed 23k for one with 10 miles on it and he paid 19k for one with 110 miles on it
Luke Bailey
Lower middle class people buy new cars because that's all they have, it helps their their self image, it helps them feel better or at least not so bad for wage slaving their lives away. Its gives the some enjoyment in their mundane lives. Low class people will never get a large check or a wind fall so buying a new car lets them feel like all their hard work isn't for nothing.
Hudson Kelly
> (OP) >Sell the truck retard get a 3k Corolla
What collateral is he going to use for the 10K? This nigger is broke already.
Xavier Watson
Only retard niggers don't buy cars cash.
Ryan Fisher
Look at the 2020 Ranger, user. They massacred our boy...
If you don't need the truck for hauling things or towing, sell it before it gets even more problems and get a honda civic or toyota corolla.
Wyatt Mitchell
I've had one new car in my life and it was a gift and it actually saved my life – a SAAB. Insurance fucked me over because why not? hospitals fucked me over because why not? I leanrrt a valuable lesson – don't trust people in suits and drive a safe car. After that I've always bought Volvo second hand. They keep really well and I don't worry that faggots key my car or run their shopping trolley into the door. A 15 year old Volvo can look brand new. In doing that you've got to know there are certain models that are lemons and other models that are much better generally without problems. When I mean lemons... I mean they have specific known problems. I view rebuilding the transmission (which is the most common problem on all models) as a saving because it saves the car. For example, an XC90 2003 with transmission problems can be had for under 2k in excellent condition – and they are luxury cars – make no mistake. The rebuilt kit and all fluids will set you back about $800-900 and if you can actually do the rebuild yourself in a couple of weekends or if you have a mate in the game give him $1k-2k to do it. It will last about 120k miles before needing a rebuilt. For the investment to drive a fucking tank that no one has EVER died in it's worth it. Or get the diesel version as their transmission are fine but before the gay DPF or if after make sure you change that shit every 40k miles (about $600 for a cheapy). They will last 400-500k miles so buying with high miles is not a problem. Cheap cars are fine but DO NOT COMPROMISE your safety.
Jason Jackson
So it's an SUV with no trunk right
Hudson Brown
The Rangers are literally the gayest cars on the road right now. They are built like garbage and look like some faggot that's watched Blade Runner too much. Take the XC90 Pill.
Full coverage insurance, then wrap it into a tree or find some other way to total it. Or if you know a guy... leave it parked with the keys inside and report it stolen when you come outside in the morning.
Jonathan Morgan
Shit suck having a new car. Get all the wrong attention. Glad car is paid off n all the poorfags can now afford my car that I now see em on the reg. Funny though, since ppl would make fun of my car until all of a sudden everyone else had the same car.
Normies piss me off.
/Blog
Aiden Roberts
Not an XC90 Chad, but have heard wonderful things about them.
Scions as well. It's just a camry with a different logo.
OP is a fag. Secretly drives his truck to parks to get sucked off. You probs don't even use the truck for actual work. You got it cause small dick syndrome. Now you're 10k upside down, high insurance cost, high maintenance n boi oh boi wait till gas prices go up, that thing will be draining you just by turning the key if it hasn't already. I don't have any sympathy for cucks as yourself, cause you buy it for all the wrong reasons. You're like a women.
Now the bet thing you can do is not trade it in or roll into negative equity like you NORMIES tend to do. You need to refinance it and do as says.
But we all know what you're going to do anyways, you'll end up trading it in. Like a cuck.
