went to buy a coffee table..

[VTEC_CBR]

Originally posted by reckedracing@Mar 13 2005, 06:35 PM

However, unfortunately that wouldn't help if you were going to trade it in, because the dealer will appraise it for less that what you owe (in most cases) and the remainder would be paid by you on the financing of the new car. People who don't usually have negative equity are the ones who bought their car(s) for way under blue book, or gave a huge down payment and/or pay much more than their monthly rate. So yes it's possible to have positive equity on a car, but rare.

so i guess its better to total it than trade it in...

and people that have positive equity in cars usually have positive equity in life as well... lol
and just like pos vs neg in cars, many more people have negative equity in life...

its really amazing how bad your average person is with their money...

as soon as you start thinking of your finances monthly you need help...

well, my CC is x a month, and my rent is X, and my car is X, so i can afford another X monthly payment...
bad news

edit:it also has a lot to do with people buying cars they can't afford, sure on a long enough time line ANY car will fit into anyone's monthly burget... so people wanting a lower monthly payment either put down a bigger down payment, or more commonly take a longer term on the loan... but FMV doesn't get longer terms... the car still depreciates just as fast for someone with a 1 year loan as compared to a 6 year loan... welcome to negative equity-ville

[post=473036]Quoted post[/post]​

exactly