So we should expect another post in about a year… “how do I get out of this Camry? Dealer says I have $15000 negative equity. But I can get 4% interest which is better than 5% so it’s a good deal right?”
I feel sorry for the OP as it seems that he does not understand the basics of money (not that difficult). Until he does, I suspect he is bound to repeat this.
I was optimistic that since he came to this forum asking for advice, he will take it and reconsider his choices. But seems like that’s not happening. It did not happen last go around either.
Kudos to all those who tried to help and patiently explain.
The only positive is that OP’s negative equity has come down from a high of $10k. If they just keep paying it down and improving their credit score, they should be better off financially next year.
We’re all invested in the conclusion now, so when you get it, post pics of the new Camry to the What’s in the Garage thread! Good luck on the purchase!