First thing I’d do is go talk to an accountant about claiming the mileage as a work write off. See if any money can be recouped there for the impending bill of doom.
I would go find one of those $100/mo Tacoma’s and bury the negative equity into it. Carrying $10K over would put your payments around $400/mo and provide the lower interest option, as compared to traditional financing (if you can even get financed @ 160K).
3 Likes
not terrible but I don’t think this person will be able to keep their mileage low. Leasing another car might end up in the same situation.
1 Like
Hmm… but is it even possible to ride-share in a Taco? 
Standard rate money factor with $9k of NE… ouch.
My contract explicitly prohibits the transport of goods or people for pay.
Since it was used for Uber, amended tax return to write off most of the lease payments as a business expense is a good option.
They can also depreciate the car when they buy it out.
I love lightstream man. Have had 2 unsecured loans via them, best bank ever to me.
You can’t bury 10k in a US Bank lease, they allow about a couple thousand max
100%. I never knew they were an option until I was looking to buyout my lease and am very glad I found them. Money direct deposited and unsecured at low competitive rates? No brainer.
Also the gas consumption of a Taco would make the option even worse.
I think the whole point is to not ride share, it don’t pay jack
2 Likes
Looks like Ally will go 115% of MSRP, plus discount and rebates, puts you right at $10k on an SR. Plus the US Bank 24mo term would make the payment too high, 39 mo ally might work.
Exactly. Lightstream took 24 hours to get the money, unsecured etc
Maybe they will let you extend the lease for up to a year, that should help with lowering the Payoff and buy the car afterwords. think that would be the easiest way to do it.