He has 2 years left on a 72 month note. So it’s been 5 years (2019) and he bought a 2015 leaf, so even back then it was used.
Nope. $282 x 24 mos is less than $7k. Plus, he said:
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I didn’t see the thing about Maturity Date,
You are right
I know he has
282 x 39 = 11000, so he has 39months left on a 72. 72-39 = 33. So he bought a 2015 Nissan Leaf in late 2021 early 2022 for ~$17,000. Wow.
This is solid but… get a 2017 or 2019 bolt could be had for 12-14k. save yourself as much as possible. they are solid cars.
I know he has
282 x 39 = 11000, so he has 39months left on a 72. 72-39 = 33. So he bought a 2015 Nissan Leaf in late 2021 early 2022 for ~$17,000. Wow.
Wow. that salesman is still on vacation.
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Sniff test says you need to work on understanding personal finances better and not just think in terms of monthly payments. Vaguely seems like you’re trying to make a monthly payment fit a number when you should be trying to spend as little as possible overall subject to the constraint of how much cash you can pull together for lump some payments.
I could totally be mis reading, but in general there are two kinds of financial lenses you should consider your budgeting through, (1) solvency aka “do I have enough cash to make payments vs. having it in asserts like real estate that can’t be used to make a payment”, and (2) balance sheet aka what is my net worth/income and how much can I spend on something while still getting my net worth where it needs to be, or at least not negative.
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What does TransUnion and Equifax show? Most credit cards nowadays offer free monthly credit scores.
No its more than that. Paying down a leaf for x amount of money still leaves me with a Nissan Leaf that I can barely use. Thankfully we can still get to groceries, takeout and etc but its literally one or two trip’s a day. We are limping along and its worked so far. Its not easy but we are doing it. I have no desire to be in more debt but I also don’t want to spend good money after bad if I can find a way to offload it and utilize rebates, EV credits and etc to help mitigate the negative equity.
Paying almost 300 bucks a month on a barely usable car is not a good investment. Pay 400 to 600 bucks a month on a fully usable car with the negative equity rolled in is a lot easier to stomach. I don’t like it at all but paying more to get out of my mistake is worth far more to me then paying off 7 to 9 grand of negative equity. It still leaves me with this damn car.
It may not be feasible that’s why I’m putting feelers out to those who are more experienced than I am at this to see what can be done, if anything.
Yeah don’t get me started. It was at the height of the bubble and I need a car since my son wrecked the other one. Gasoline was also $6 a gallon in California so it paid for itself in fuel savings. I was able to charge at work etc. They now go for 5k to 7.5k but CarMax will pay me 2k. It’s lovely
Equifax shows 701. Haven’t found a way to get TU without paying. I’ll keep looking.
Because Carmax will wholesale it for 3k the next day, and someone else will spend $1000 on Recon / Auction fees, and pay $4k for it, and try to sell it for 5k. That’s how it works.
I still think a used Bolt with EV Rebate is the best way to go for you.
Yeah the thing that I am trying to clarify is that you’re still paying off the negative equity if you roll it into something else, even if that thing has incentives, you’re effectively just refinancing it and bundling it with some new debt you are taking on for the new car.
And you can totally be fine with that because you need a better car, that’s perfectly sensible. Just be wary of thinking you’re not paying the negative equity unless you are buying a car for a lot less money than it is worth (occasionally possible but not easy). You’re likely just going to have to pay off the negative equity plus the cost of a new car, isn’t really a way around that, just ways to distribute when you are making those payments better.
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Totally understand. Its just shuffling it around. While paying on that negative equity I’d also have a better car to use.
Still not sure its the best idea… might just need to put some money towards closing the gap. Just don’t want to put good money after bad.
Who knows maybe the crazy weather in TX will take care of it lol. It almost totaled my other vehicle… spent 4 months in the shop and $15k worth of damage. Crazy stuff.
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Do you even have gap insurance? More often than not people do not have it on a loan (almost always on a lease though).
You could add loan/lease payoff through your car insurance but that caps at 25% of your cars market value.
Yes I do. I always purchase it.
No way anyone is renting this thing.
Lol thanks. You’re probably right but still haha.
Some only provide VantageScore though, which nobody actually uses. It’s all about the FICO 
Do you have a Bank of America credit card? They provide TransUnion FICO with monthly updates for free to customers that have credit cards with them.
Yeah that’s where I got my FICO score I listed above. Experian and Equifax are 700 and 701.