Prob just wishful thinking
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You know, I just realized I donāt have Gap on my carā¦.
Anyways 9k negative is the best option I have 
Ride it out and spend the $ on a home charging setup.
āGTPEā is a terrible acronym to describe a mach E GT this day and ageā¦just saying
Thereās GT and GT Performance Edition.
Iād rather not write out āGT with Magnerideā lol.
One more request if you donāt mind: can you please share the MMR or auction data on the 2021 Mach-E RWD with 8000 miles in Detroit area? Really appreciate it!
Also curious on auction data for 2022 Mach-E AWD ER. Trying to get out this car soon, offers have been brutal.
Become a supporter, super supporter, or signed! contributee and ask in the MMR thread in the hackrās lounge
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How do you get signed?
Oh, I shared the deal that I did but didnāt do thisā¦ thanks
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Follow-up on this thread:
(If Admins can re-open it, I donāt need to create another thread).
I decided to ride it out but now Im in process of getting a home and bank is absolutely needing me to get rid of this car payment.
Current Payoff is 55k.
Most offers I got were in the mid-30s, with a few in the 25-30k as well. Highest I have is 38k.
I know Im screwed here but any other ideas?
Looking at the kbb itās a lot higher than your current offers and on actual trades dealers will honor book value.
I think you have an opportunity to target something else you want that dealers aggressively went to move.
For example when I got my 22 Wrx the dealer wanted them gone and was offering 5k off and was willing to stretch to top of the KBB range on the trade.
Trading one turd for another increases your chances of this working but a lot of volume dealers will just want to move a new car. It may actually help you to not deal w a Ford dealer and even better a dealer that doesnāt have one in their network. When Iāve flipped 4xes nothing kills a deal more than ālet me call my Jeep Storeā and we can imagine the store with a bunch languishing has to say.
But if you can hone in on what you want to replace it, work a great deal, often the dealer wonāt blow it up and will just give you book value.
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I cannot get another cash (unless I pay cash) until closing unfortunately. So this is a sell transaction, not a trade+buy
I mean part of the recommendation is to get a lower payment too so itās a lower number for dti on the mortgage.
I know the mortgage people say no new credit but these things can be explained to underwriting. Or your mortgage broker can explain the number you need to get to.
But nobody will pay book for this lot anchor on its own Iām guessing.
Best of luck!
Assuming you took wamās advice in other thread and this includes Ford dealers.
You were roughly 12k flipped in March, youāve made $5500-$6600 in payments since and youāre at best $15k flipped (guessing you arenāt including the tax credit, because you took a ballon to claim that right? ā if so thatās $7500). You can see where this is goingā¦
You can list it for sale and hope a private party wants it bad enough and sees more value that $38k, you can sell it and write a check for the negative, you can refinance and lose the option to dump it at the end of the balloon (own the downside), or wait on buying a place and ride it out until disposition.
There isnāt a āroll the negativeā option here with ~ $450/mo in negative and rent over 36 months.
Yes, I have checked with 5 different Ford dealers this week. All quotes are in the $35-38k range.
I have made 5k in payments since March (5*1100). From the day I got the keys, I have made a total of 17k in payments (including down) and gotten 7.5k in rebates. So technically, I have made 10k in payments and I am aprox 16k under water further.
Absolutely not. I am not rolling this anywhere. Just considering whats the cheapest or least painful method to sell it.
If I do the payoff of 54k, it significantly impacts my reserves and taking a bet that private party would find better value. That may be my last option