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/biz/ - Business & Finance

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57132578 No.57132578 [Reply] [Original]

>Truck needs 5k in repairs.
>Still owe 20k on auto loan.
>$390 monthly payment.
>Truck is worth about $8k.. (if repaired)

What do?

>> No.57132636

>>57132578
>truck is worth 3k without repairs
>owes 20k on loan

how in the hell do you even get in this situation?

>> No.57132769

>>57132636
buying literally any vehicle in the past 2 years

>> No.57132788

>>57132636
He went to one of those ghetto stealerships ran by a guy in a 70's sears suit.

>> No.57132800

>>57132578
I watched a youtube video on this yesterday. Apparently it's a real thing.

>> No.57132811

>>57132578
Also, don't buy a Dodge Ram next time.

>> No.57132812

>>57132578
Did you get some kind of interest only loan and never managed to pay any principal? What you need to do is notify the bank that you can no longer afford the loan and let them know of your intent to default on the loan. They’ll work something out with you after taking back the car. Then pay off what ever remaining balance you owe. Then go learn to make better financial decisions for the future.

>> No.57132816
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57132816

>owes twice the value of his vehicle on a loan
This is why you buy vehicles for a couple thousand dollars on Craigslist
>Waaaaahhhhh I can't find anything that cheap
Yes you can if you look

>> No.57133680

>>57132578
where do i buy truck coin? wtf

>> No.57133712

Vehicles are tools to get from point A to point B. Spending money you dont have on fancy neato trucks is onions as fuck. The biggest losers in the world are ones that try to flex fancy cars they cant afford.

>> No.57133718

>>57132578
What did you buy?

>> No.57133827

>>57132578
You should only rent a truck when you need it. It is not worth to own a truck. It's over

>> No.57133843

>>57133712
I bet you're fun at parties

>> No.57133853

>>57132578
>1pbtid

>> No.57133869

>>57133843
>Going to parties

>> No.57134367

>>57132812
>Then pay off what ever remaining balance you owe.
Is that preferable to just taking a hit for seven years? I don't think I'd ever pay for something I forfeited.

>> No.57135000

>>57132636
>how in the hell do you even get in this situation?
Put 160,000 miles on it in 4 years.
>>57132788
>>57132812
My father who was a car dealer for 25 years said it was a good deal.. Now I don't think he knows what he is doing.
>>57133718
2019 Ford Ranger.
>>57133827
>It is not worth to own a truck
It is for me faggot.

>> No.57135055

>>57135000
Checking those trips.
If I were to write a fictional story about what a hypothetical guy might do in your situation it would involve getting gap insurance and then wreck the truck during a snow storm. Understeer it straight into a large solid object at about 30 mph. Wear a helmet and knee pads and a thick ass coat. Remove safety gear and call police to file a police report.

>> No.57135106

>>57135000
Checked, but you bought the first year of a completely new model run, that was the wrong decision.

>> No.57135117

>>57132578
Het full coverage insurance. Have accident.

>> No.57135128

why would you
put so many kilometers on if you weren't getting your time + like another 150k to cover car costs over 4 years

>> No.57135129

>>57132769
Why would you ever do that. Just buy second hand, wtf

>> No.57135137

>>57135106
buying a ranger is always the wrong decision.

>> No.57135139

>>57135129
now you get to buy a shitbox for 10k
then throw it out a year later because its not worth spending 5k to fix it lol

>> No.57135952

>>57133843
Niggers tongue my anus