Rolling
6k in negative, you’ll be hard pressed to find anything you’re looking at for 535/mo. Your negative is 166 effective before tax and interest are added.
I’d ask how on earth you ended up 6000 dollars underwater, but then I checked my Acadia Carvana price and my 2018 with 22k miles on it has depreciated around 18 to 19 thousand dollars in 18 months depending on whether I include the accident adjustment. Holy crap!
Why the sudden need to get out of this anyway? If its financed and the payments are manageable you can do much worse than what you have right now. Plus the deprecation curve will flatten out too.
I think they just hope and pray for auction stupidity. Carvana booked my Malibu for about 10k I believe at the time I grounded it, they got over 15k for it at auction and it sold when listed around 19k at a dealer.
They burned themselves when Wagoner was in charge with ridiculous incentives and crazy lease rates to get metal on the roads. Then all those leases were coming back at the same time, flooding the market, killing their value. They’ve tried to reign things in more recently, and stopped dumping cars onto fleets, but haven’t really gained any ground.
