gregorygarver.com

fredsanford · Joined: 15 Nov 2006 Posts: 9

I have a 2007 SUV. My payment is just way too high and I cant afford it. I found a 2002 SUV that is about $5-6k less than that I owe right now in my car($23,500). Will the car dealer give me a lower payment if I have a $23,500 pay off and the car I want is $18900 (not including tax)? Or should I just keep my current SUV and refinance it in 6 Months?

aspcavolunteer · Joined: 01 Jun 2005 Posts: 5

you should wait until your vehicle is about the same. b/c if you owe 23 and are going for a lower cost they have to hide what you owe on the first one into the second vehicle. so it would make about the same payment. I'd just wait get it paid off a bit more, try to refinance it through a local bank for a lower interest rate. The interest rate is what really kills the payments.

Stacy5096 · Joined: 29 May 2006 Posts: 4

If you can keep it and try to refinance it, but if you can not afford everyday life because of your payment then I think that the answer is a no brainer.

stacyg · Joined: 29 Aug 2004 Posts: 7

They will sell you another car. If you owe more than what its worth they will just add the negative equity onto the new car you are buying. If you dont have negative equity than its all good. If you cant afford 23500 19000+ is not much of a difference. I would look at 10000 which depending on credit and term is around 200 month

Jenn · Joined: 15 Jul 2004 Posts: 7

WHEN THE HAVE FINISHED WITH YOU, YOU WILL BY UPSIDE DOWN..........WAIT AND BE SMART.GOOD LUCK