What's the best deal on a luxury SUV to dump $9k of neg equity? EV and Plug-ins are ok

Ask the Hackrs
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Looking for a luxury SUV deal to dump 9k of neg egg from trading in my Tesla MYP. Will consider luxury car, but needs to have space for a car seat. EVs and Plug-ins are ok considering I’ll be trading in one.

Additional Context: I was one of those who purchased in 2022 when Msrp was $67,000 @ 5% (lowest at the time) APR – combine that with the today’s climate and I’m in this current situation.

Would rather move the neg egg rather than paying 9k that could’ve been invested, at best liquid in this economy.

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Your situation has Mercedes EQS written all over it. Low money factor and lots of rebates.

Just don’t go shopping at North Olmstead or Plano Benz. They have a lot of 2024 EQS in stock still because they know what they got.

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Write the check or keep driving it. Paying taxes and interest on negative equity is just digging the hole deeper.

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Do you have to?

Teslas have great long term reliability, keep it another 4 years and that $9k negative should be gone… right?

But if you must, go for the cheapest lease with lowest money factor you can find. Cheapest lease going might still be the ZDX A-spec under $400/mo or less if a one pay.

I would not go up the ladder to an EQS. If you’re already behind by 9k you need to get into a cheaper car and get your finances straight before rolling in an EQS unless it’s a stupid unicorn deal.

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Keep the Tesla

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Nothing gets dumped. You’re just borrowing it and paying it back with extra interest and tax

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30 years in the car business. IMHO unless there’s a drastic needs change- having triplets or something- you should never roll negative equity into the next deal. If the car still works for you, drive it out to term and be more careful next time to buy something you love. If you must trade out, then either put the cash out and go in “clean,” or recognize you’re paying interest and tax on that 9 grand. And, maybe more with a clever dealer. In case no one has noticed, there’s a shakeout in the EV business. The deals you see here are a symptom. Tesla was the only one to break the code. They will survive.

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Dealerships with “no haggle” pricing are hoarding all the 2024 inventory :pensive_face:

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Uhh, no. Tesla/Musk made their own respective beds with zero help from the Dems.

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Tesla value is irrecoverable - just switch to a new vehicle if you need to and pay off the neggi. Otherwise - ride it into the storm. Afterall, it has 4 wheels and still drives.

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@Jerseyman Please do help him and buy more tesla - new. They have lots of cybertruck on the lot :rofl:

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I don’t believe he’s “behind”, he just wants to get hid off the Tesla and, as with almost any car, he’s upside down on the finance.

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Just slap one of those :prohibited:elon stickers on the back and call it a day.

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You need to be more specific here? What brands and models are you interested in?

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Preferably Mercedes, BMW, Audi. Open to most models besides Q4, Q6 Etrons. Based on posts throughout the forum it looks like EQS or GLCe are the way to go, but curious if there are other/better options. Really open to anything that makes sense (I know that’s subjective)

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Understood, but I would rather “move” the neg egg into a lease w/ a lower MF while simultaneously replacing my Tesla.

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Check out broker deals in the Marketplace to get an idea of what pricing looks like without negative equity.

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He’s just early to the party. People will forget/forgive once the rest of America wakes up to the fact that we’re screwed/in a debt spiral.

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By keeping the Model Y until you’re no longer underwater you can have a much better impact on your personal finances than Elon has had on the federal deficit.

Get a sticker if you need to. But the pre-facelift Y is much less of a statement than a new one, or especially a Cybertruck.

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Including keeping the MY and adding a “ :prohibited: Elon” sticker in the back?

That’s what makes the most sense.

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