The wife will never change the oil again!!

Now you guys understand why I started the thread..it was a little more than 43K for the RDX, then with her negative equity that is what it ended up being. That is exactly why I told her she should have just refinanced her 2012....

 

dont worry about, nothing you can do now except enjoy the vehicle and the happy wide. no sense in beating a dead horse.

 

How nice of the dealership (or whoever financed her orginally) to put her in loan terms that would put her $5k upside down in a year's time.

Sounds like you know it's probably not the ideal financial situation. At least you're in a position to pay it, and hopefully she now has a car she likes.

 

Finance about any new car at or near 100% and you will be upside down in a year. Or sooner.

I personally don't believe in 100% financing...it's part of the reason for the housing/mortgage crisis.

 

Agree 100%. No argument here.

 

especially at 72 months. the math just isnt in your favor. thank god for GAP insurance.

 

...so....what's the plan for when the oil change comes due again?

 

Well the main reason that she was upside down was our 2007 Trailblazer SS that we traded in for the 2012 Acura to start with. And there is no way on gods green earth that I am going to be paying on this vehicle for 72 months....we will either pay it off early or she will get a new car in about 4 years.

And since I will be home in less than two weeks all of the oil changes will be performed by me at the house

 

we at least need pics of new vehicle...

 

Yes WE do, I haven't even seen pics of it yet
I will get her to shoot some soon...

 

Heh...

I'm a car salesman and the worst i've seen is a woman who financed 37K on a 17K Corolla...

 

Wow. Who financed over 200%+?

 

a)...a reason I could not sell cars, I could not do this to people.

b)...it shouldn't be allowed/acceptable in the finance industry anyway.

 

I was in the auto business for almost 4years (06-09) and I've never heard of any bank financing over 140%. 200%+ sounds hard to believe. I'm curious as to who the bank is.

Just remember, this lady wasn't innocent when buying the corolla just like the OPs wife when buying her new RDX.

 

Oh, I agree...and in no way am I blaming the lender. I just don't understand how/why car lending is so unregulated. Maybe because it's an easy assett to repo and unload at auction...unlike real estate.

 

Again in Vegas....