View Single Post
      02-06-2013, 01:58 PM   #1
AllBlackBimmer's Avatar

Drives: 2008 328i E90 6MT
Join Date: Aug 2011
Location: Northeast / Mid-Atlantic

iTrader: (-1)

upside down car loan?

I guess this doesnt just apply to BMWs but upside down car loans in general...

so my 08 328i is worth about 18g's according to KBB... I still owe about 10g's on it. owned the car for 2 years now.

At the rate I put mileage on my car, I am going to be upside with my car loan in the next year or two... about the same time my car will be paid off.

Do i keep my car for the long haul, pay it off and be done with it

Do I trade my car in on something else in another year? - not necessarily a BMW, but hopefully it would be.

Do I just try to sell or trade it in now, where I could get the value of it, and pay my loan off?

Thoughts? I know others must be in a similiar situation.

I love my car and would like to keep it, but not so sure about owing more than my car is worth at ANY point during ownship...

I am only 26, am buying a house in the next few months. I want to be "smart" with my money (I guess owning a bmw is not consider "financially smart" ) but that is debatable i suppose.

thanks guys.
2008 328i E90 Jet Black:6MT:Premium:Sport:Walnut/Black interior:Xenon:MTEC V3 AEs:35% Tint:Blacklines:OEM Front Splitters : OEM style CF truck spoiler : CF mirror cover overlays: 19" VMR Flow-formed v710: Hankook v12 Evo2 tires