Leasing/Buying with Negative Equity?

Hey Guys,

I currently financed a 2018 Camry SE base with a full bumper-to-bumper warranty for around $380 a month, I want to get out.

It’s been around a year with 12,600 miles

Pay-Off Value: 22,400
Trade in Value: 18,500

Making the negative equity coming out to $3900

Anyway I could roll that into a lease and how much it would add on?

Or Over-All Any Tips from the leasehackr’s?

or should I just finance a car and roll-it in.

Yes you can roll it in. Each 1000 adds around $34 a month assuming 36 months. Search the forum for information because this has been asked countless times

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You might be able to snap $20-21k from someone if the car is in great condition. Seems like $19-22k is the selling price for most 2018 Camry SE right now. If you want to keep it simple then you can always trade in and take the $18,500.

Have you checked Shift, CarMax, and all the others for offers?

Private Party I know I can do it-but it’s the hassle I don’t want- I work for an auto-group with 13 location’s maybe I’ll throw a message out to all the stores about it,

and the $18500 is coming straight from KBB

1000/36 = ~$28/mo. Does your state give you a tax benefit when trading in?

Skipping lunch caused my mental math to turn to :poop: apparently

Ahah it happens :slight_smile:

He’s not completely off as you would add sales tax and interest to that as well. Bet it’s closer to $34 than $28 :grimacing:

It doesn’t matter. 1000 is 28 a month…whether its equity, tax, etc…

@BoardWalkNJ post reads like he’s talking specifically about the $3,900 in negative equity. I’m not trying to bust your chops rather ensure the OP realizes he’s paying interest and being taxed again, which can be considerable for NY state.

Located in CT- no-idea about the interest or taxes/ kinda new to this

Negative equity is handled the same way as paying $3,900 more for the car. Likely will cost you closer to $4,500 in the end.

BTW - Why didn’t you pick up one of those amazing Acura deals you posted earlier?

Keep the car unless you like flushing money down the toilet.


Why do you want to get out?