Question:
i have a 2005 fully loaded escalade top of the line with 59K note. also own 97bmw 540i free and clear. what are my options?
Answers:
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If you truly owe that much you must have been upside down on something else or just paid way too much. Start with talking to the selling dealer. They are the one who made something to start with. You could trade it in for something else but you better make sure you like it because you will not have any equity until you make your last payment. Whatever you do keep making the payments because if you let it go back they will sue you for the balance of what you owe minus what it brings at the auction. Wont be pretty.Is buying a vehicle on ebay safe or a good idea?
The only option I know of is if you trade to a different car you will have to make payments on the difference...not a good financial option obviously. That is why financial advisers caution against both long term car loans (5 years) and high interest rates. Both situations get you locked in to owing more than the car is worth for a very long time. I speak from experience.Hyundai Santa Fe, Mitsubishi Outlander, or Toyota RAV4?
You appear to be 20K upside down as you already know. I have seen people take the vehicle that is upside down, take their second vehicle that is paid for, and trade both in on one car to get a single vehicle right side up on the Blue book. Most people would say not to trade in a free and clear vehicle, but you want this financial burdon off of your hands. Next, when they were searching for a new vehicle to trade both in on, target rebates and special APR offers. You want to trade in on a new vehicle because the APR is better than used, and you want to find rebates. If you trade in your Escalade, you want to gain as much positive equity as you can with your second vehicle and you want to find the lowest possible sticker price that give positive equity on the new vehicle. After rebates, if available, you may very well reduce if not eliminate the negative equity from your escalade. I would simply go to a local dealership, not a small time used car lot, and ask the sales represenatives what advice that they can give. They should give you free advice, after all, they are in the business of customer service and are experts in this area.Good luck
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You could also try to sell it yourself. Put it in the paper with x amount of dollars or best offer see what you can get you might be able to pay the difference off yourself if you don't get the 59k.When do you know your timebelt in your car is bad, how much does it cost for SUV?
Find a crack head give him 10 bucks to steal it and run it into a lake, then call your insurance company and report it stollen.Do you have a match?
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