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@  Dennis : (25 June 2016 - 05:41 AM)

Morning everyone

@  agrawalmadhu... : (24 June 2016 - 01:53 PM)

investment

@  agrawalmadhu... : (24 June 2016 - 01:53 PM)

stock

@  Dennis : (23 June 2016 - 08:05 AM)

Morning 2play. Hows your day?

@  2play : (23 June 2016 - 06:31 AM)

Hello

@  Dennis : (22 June 2016 - 06:55 AM)

Good morning and have a great day.. Whats your plan for today ?

@  2play : (22 June 2016 - 05:52 AM)

Morning to All..

@  恒亮 : (22 June 2016 - 05:36 AM)

satoshi

@  jbrian88 : (21 June 2016 - 09:55 PM)

Hello Frnds am so Happy to be Here wit u guyz

@  Rajesh : (21 June 2016 - 02:01 PM)

Morning to all

@  Dennis : (21 June 2016 - 09:51 AM)

How is your day?

@  Dennis : (21 June 2016 - 08:23 AM)

Morning guys and gals

@  Fx Mental : (21 June 2016 - 08:11 AM)

hello

@  2play : (21 June 2016 - 06:56 AM)

hi

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Hi there!

@  Dennis : (17 June 2016 - 08:32 AM)

@Forhad Reza Hello and have a great day

@  Forhad Reza : (17 June 2016 - 08:22 AM)

hello

@  Dennis : (16 June 2016 - 01:44 PM)

Hello @Fx Mental

@  Dennis : (16 June 2016 - 01:39 PM)

Hello HyipRegular

@  Fx Mental : (16 June 2016 - 11:19 AM)

hi

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Upside Down Car Loan - Need Help/advice


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1 reply to this topic

#1
diane.jsmith

diane.jsmith

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I have a 9% interest on Nissan Quest currently valued between $6,000-8,000. The balance on my loan is $20,000 on a 60-mo loan. I pay $500/mo. Credit scores are 586, 607, 622. I've been paying since March 2006. I would like to get out of this loan asap b/c I'm spending a little under $25 of my net income just on the note.

Here are my options as I see them:

1. Keep the car for the remainder of the loan.

2. Shop the car around for the best trade-in value and seriously downgrade to get my payments for managable. (I'm thinking whatever equity in the car may cancel out some of the loan if I downgrade. For example, $20,000 - $6000 = $14,000). Buy cash car for $2500.

3. Refinance (I don't think I qualify for anything lower than 9%). or Pay down debt wait a year and refinance.

Any other ideas?

#2
Goldrush

Goldrush

    New Money Maker

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Question is do you still love driving your car? If you think you want to save your budget then I would choose number 2 and downgrade, anyway, the most important part is you can have access on roads without hassle.
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