What are the chances

[Murdoc's Mistress]

It will depend on his credit, his total income and debt to income ratio.

[Anonymous 4]

Just because it’s worth $30k does not mean he will get $30k. What don’t you understand about that??

You are still thinking the trade in value is the same as the blue book value. Its not. Let me show you what I mean. We will use my Expedition as an example...

Lol. You are either totally beyond help or just being intentionally irritating like a toddler.

Please explain how, in your own explanation earlier, he would have $3k to use as a downpayment if she traded in a car worth $30k that she owed $27k.

You’re arguing against yourself at this point.

[Deleted User 1039]

I perfectly understand that and have said as much quite plainly. That’s why it’s so funny that people keep making that point to me. It’s just deflection or intentional ignorance.

Maybe he gets $500 back. Maybe a miracle happens and he gets $6000! It makes no difference and isn’t at all relevant to the point of the post she replied to.

But since we are arguing semantics of someone saying “trade it in” instead of “sell it,” how do you know the OP didn’t mean that the trade in value was $30k?

Just because it’s worth $30k does not mean he will get $30k. What don’t you understand about that??

You are still thinking the trade in value is the same as the blue book value. Its not. Let me show you what I mean. We will use my Expedition as an example...

Lol. You are either totally beyond help or just being intentionally irritating like a toddler.

Please explain how, in your own explanation earlier, he would have $3k to use as a downpayment if she traded in a car worth $30k that she owed $27k.

You’re arguing against yourself at this point.

[Fullxbusymom]

and the last thing you need is a new car or a new kid when you cannot even pay off your other debts.

And glad you don't get a say.

If they end up on assistance or default on loans we should get a say as responsible tax payers and responsible bill payers. It costs the rest of us higher prices to pay for the ones that get into debt they can't pay off

No, no you should not. It doesn't cost you anything extra. Part of your taxes already go towards assistance and that hasn't changed nor will it ever.

[Fullxbusymom]

yea that thats the stupidest thing he could do

To get out of his loan and buy a car outright from the extra he will get back because his car is worth more than he owes? How the f**k is that stupid?

Buying a car (guessing a van or 3-row SUV, both expensive) for under $3k is an extremely stupid move. It will be a piece of crap. And when that junker breaks down two days later and they don’t have any cash for repairs or credit cards for emergencies, he’ll be out of a job, too.

A 3 row mini van is pretty inexpensive and $3,000 will buy a decent one. No, $3,000 won't necessarily buy a piece of crap. Or even if he got a small loan for $3,000 so now he is in a $6,000 vehicle that could be paid off within the year and a much lower payment every month, lower insurance, lower registration. Lower everything across the board.

[Fullxbusymom]

yea that thats the stupidest thing he could do

To get out of his loan and buy a car outright from the extra he will get back because his car is worth more than he owes? How the f**k is that stupid?

Ypu realize the original car loan just wont disappear,right?

It does if he sells it and pays it off.

[Deleted User 1039]

To get out of his loan and buy a car outright from the extra he will get back because his car is worth more than he owes? How the f**k is that stupid?

Buying a car (guessing a van or 3-row SUV, both expensive) for under $3k is an extremely stupid move. It will be a piece of crap. And when that junker breaks down two days later and they don’t have any cash for repairs or credit cards for emergencies, he’ll be out of a job, too.

A 3 row mini van is pretty inexpensive and $3,000 will buy a decent one. No, $3,000 won't necessarily buy a piece of crap. Or even if he got a small loan for $3,000 so now he is in a $6,000 vehicle that could be paid off within the year and a much lower payment every month, lower insurance, lower registration. Lower everything across the board.

Vans aren’t really that cheap and the reliable makes hold their value pretty well. Any vehicle that’s only $3k is going to have very high mileage, so it has a long, unknown history, tons of wear on the engine, and no warranty.

“Reliable” is subjective, of course, but I would never find a $3k vehicle reliable, personally. No one would be surprised if a car that only cost a few thousand dollars broke down within a year. And the lack of warranty would be a big concern if you have absolutely nothing available for emergencies.

[RedBottoms]

Buying a car (guessing a van or 3-row SUV, both expensive) for under $3k is an extremely stupid move. It will be a piece of crap. And when that junker breaks down two days later and they don’t have any cash for repairs or credit cards for emergencies, he’ll be out of a job, too.

A 3 row mini van is pretty inexpensive and $3,000 will buy a decent one. No, $3,000 won't necessarily buy a piece of crap. Or even if he got a small loan for $3,000 so now he is in a $6,000 vehicle that could be paid off within the year and a much lower payment every month, lower insurance, lower registration. Lower everything across the board.

Vans aren’t really that cheap and the reliable makes hold their value pretty well. Any vehicle that’s only $3k is going to have very high mileage, so it has a long, unknown history, tons of wear on the engine, and no warranty.

“Reliable” is subjective, of course, but I would never find a $3k vehicle reliable, personally. No one would be surprised if a car that only cost a few thousand dollars broke down within a year. And the lack of warranty would be a big concern if you have absolutely nothing available for emergencies.

My van cost 40,000. Lol it was brand new but yeah Vans are not cheap.

[Deleted User 1039]

A 3 row mini van is pretty inexpensive and $3,000 will buy a decent one. No, $3,000 won't necessarily buy a piece of crap. Or even if he got a small loan for $3,000 so now he is in a $6,000 vehicle that could be paid off within the year and a much lower payment every month, lower insurance, lower registration. Lower everything across the board.

Vans aren’t really that cheap and the reliable makes hold their value pretty well. Any vehicle that’s only $3k is going to have very high mileage, so it has a long, unknown history, tons of wear on the engine, and no warranty.

“Reliable” is subjective, of course, but I would never find a $3k vehicle reliable, personally. No one would be surprised if a car that only cost a few thousand dollars broke down within a year. And the lack of warranty would be a big concern if you have absolutely nothing available for emergencies.

My van cost 40,000. Lol it was brand new but yeah Vans are not cheap.

We just bought an Odyssey. Not the base model, granted, but yeah, not cheap!

[RedBottoms]

Vans aren’t really that cheap and the reliable makes hold their value pretty well. Any vehicle that’s only $3k is going to have very high mileage, so it has a long, unknown history, tons of wear on the engine, and no warranty.

“Reliable” is subjective, of course, but I would never find a $3k vehicle reliable, personally. No one would be surprised if a car that only cost a few thousand dollars broke down within a year. And the lack of warranty would be a big concern if you have absolutely nothing available for emergencies.

My van cost 40,000. Lol it was brand new but yeah Vans are not cheap.

We just bought an Odyssey. Not the base model, granted, but yeah, not cheap!

That's what we have. I bought the second cheapest model and it was still a fortune! At least to us. It's the nicest thing I own.