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      02-06-2013, 12:58 PM   #1
AllBlackBimmer
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Drives: 2008 328i E90
Join Date: Aug 2011
Location: Central PA area

Posts: 1,502
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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.
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