Official negative equity thread

This is long overdue. Please use for all your negative equity questions/scenarios. We all can’t wait to hear your justification for wanting to roll negative equity because the payment is too high, the future maintenance could put you in financial ruin, or any other excuse that comes to mind to talk yourself into making a terrible financial decision. We all know you just want a new car, and we are all here to be that friend at the bar that says, “go for it.”

I think I speak for everyone that I’m equally as shocked that cars have once again become a depreciating asset. My mind is blown.

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This should be interesting

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I think this thread will give meme thread a run for its money.

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subscribed

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Modest 15k underwater. Clearly, it’s time to throw it in the trunk of a ZDX and move on. With annual maintenance cost at an estimated $700 on a Mach-E, it’s time to do the smart thing and realize that 15k loss. Too much risk keeping it. It would be downright irresponsible to keep it.

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So you’re tellin’ me I should NOT sell my 2022 Tesla Y LR 7 seater and get a discounted Tesla Y 2025 RWD with my $4500 Tesla Referral credits used for DAS :stuck_out_tongue_closed_eyes: BTW the referral credits are about the same as my NeggyEggy right now. I hope can use them for leasing-have to check with Tesla on that. (Purchase is listed, but says nothing for lease)

May just use them for replacing the 3 tires $1200 before the credits expire and definitely get the ACCELERATION BOOST for $2000 and some merch/filters, supercharging, FSD monthly etc. and keep driving the '22 with 22K miles so far…

Decisions to be made, lemme know what LH’s think.

I’m ok either way-just don’t wanna wait and have the credits expire within 12 months and have some more coming too, but am leaning towards the keeping the one I got and owe $32K still.

Wonder What would @z0lt3c do :laughing:

MYP for $36k? Seems like a pretty aggressive deal.

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I just tell folks to use the search feature on the forum. :grin:

“After estimated [gas] savings” ie that’s not the price you pay.

Believe it or not, it’s without it.

$7k+ price adjustment plus $7500 tax credit

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If you truly have the $4500 in referral credits, and can snag a MYP that’s as heavily discounted as that, that’s strong.

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For sure! @BYGFEET where ya at lol

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Average LTV is 120%. So instead of the average buyer paying par, they’re on average burying negative and paying sales tax / govt fees on a loan.

Just be normal. Bury the neggy eggy.

Plus you would assume loans are distributed between 50% and 150% LTV to average at 120%. Go for the gold and max out that LTV. It’s a fun challenge.

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Assuming this thread exists to convince people to roll that neggy eggy, here’s another good example.

Someone got a fisker ocean ultra and scrambled to find anyone dumb enough to take the turd off their hands before the company folded. Now this Mitsubishi dealer is bag holding EV junk forever. If your gut is telling you that your car sucks, don’t listen to randos on the internet who don’t know your car or your situation.

Take the negative equity hit now and get a real car (like an ICE). You’ll feel better once the Tesla or EV junk is out of your life. Rolling negative into another Tesla is probably the worst thing imaginable though. Please don’t that.

https://www.universalmitsubishi.com/inventory/Used-2023-Fisker-Ocean-Ultra-VCF1UBU28PG008431/?

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Bonus points for the highest initial LTV excluding add ons. Let’s see some new high scores!

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Lol it is tempting TBH and I’ll be at $622/mo with their 5.84% APR it’s about $2800 more if I lease it $549/mo and decide to buy at end 36/10 (if they allow credits used for leasing).
I could sell my Y private party and clear the negative equity that way…

Remember it is ONLY a negative equity if I get rid of it haha :white_check_mark:

I’ll be close to $5000 when they all clear :call_me_hand: possibly more… waiting on one more this week and I can use my own loyalty $500, that would cover my taxes and fees/down payment

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lol just like the 5 LH users who thought they could SAL their cheap i7 leases.

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Ohhh SNAPP, haha it’s only about $4K anyway if I sell it… not a big deal compared to what I paid for it in 2022 :exploding_head: