it goes by state
Thank you. Any idea on Missouri?
I can put down $10-12K if needed but again trying to minimize eating up cash if at all possible. Payment wise want to be less than $950 a month.
Wait, this actually is a thing?
I am in a very similar situation, actually.
I’d consider looking at high priced EVs. You need a quality discount and the rebate can help. Higher MSRP will help with a decent discount. If you can’t do an EV, still some solid options out there.
Tailing this discussion for help as well.
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Out of curiosity OP so we can accurately gauge your pain threshold, how much was the purchase price of the 2015 Escalade in 2021?
Originally financed $42K even. This is what the bank estimated the value at during time of purchase.
What are the costs or terminating early?
If you can’t find a way to get out of that $13k deficit through a lease, do you have any other funds that you can pay the $13k off with?
Yeah I have cash to get out of it but like I said was hoping to not eat up the cash but if that’s my only option it is what it is. Was just hoping someone here might have a solution somewhere in the middle.
Having an Escalade, hard to go smaller. No good deals on bigger cars. If you can downgrade to smaller vehicle, you will have better chance to come out of the negative equity
Can you roll negative into a 24 month CARE by Volvo lease, but then cancel the lease in 5 months?
Only lease that’s a good value in here is the Telluride.
CX90 is a little smaller FYI if that’s important.
With your budget you should be able to finance a Grand Highlander or Lexus TX if you need something larger
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EDIT: Looks like Polestar doesn’t do trade ins on short leases (or maybe at all). Not sure about Care by Volvo
Still has to pass the LTV check
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Which is ?
Even if it’s 100% of MSRP, any EV or consumer rebates could become negative equity to wipe out at month 5 instead of taking to term to month 24.
You said two things that sorta contradict each other: willing to put down 10-12K (understood as a distant second choice) vs being 13K in the hole. Just bite the bullet on your truck and get a killer deal with zero due on the replacement lease. Don’t hamstring yourself with a trade-in!
You’ll even out soon enough without worrying about sinking money into a bottomless money pit. Alternatively, get a zero percent credit card for about a year and see if you can lower the payments further going this route. Put DAS on that card for bonus. Look into Chase Ink for business if you got a business.
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