26 Feb Upside-down SUV
Dear Mary: After a long period of investing our vehicles in and updating each right time, we've a huge 2019 Chevy fuel guzzler. We owe $33,335 for a zero-percent loan.
The value that is top based on the Kelley Blue Book web web site, is $22,930 when we offer to a private party and $19,510 as a trade-in.
My wife does think we can n’t get free from this. We actually regret all of the choices that are bad made and will be ready to drive something less costly. We just have actually $3,400 in our crisis investment. What exactly are our choices? — Greg
Dear Greg: You are “upside-down” in your loan towards the tune of at the least $11,000, meaning you borrowed from that significantly more on this car than it's well worth in the market that is secondary.