Question about selling a car under water.

[widebody911]

Ok, there's this girl I know that has an Acura on which she owes $6800, but it's worth less than that. She doesn't have the cash to pay it off outright, but she needs to get out from under it somehow; for some reason she bought another car and didn't trade this one in. No clue why/what/how, I just know the facts as they stand.

What options does she have?

[djmcmath]

Is she blonde?

Not a whole lot of options. Sell it for what it's worth (or $6800, if she can find someone dumb enough), and eat the rest of it. Or keep using it, in hopes that the depreciation curve will eventually flatten out. Bummer of a situation.

Dan

[widebody911]

That's it? Wow, that does suck. In the meantime, she's stuck with 2 car payments.

Yes, actually, she is blonde; very blonde. Unfortunately I'm unable to back up this claim with photographic evidence at this time, but I'll do my best

[dhoward]

Deeper than 33 ft., hang a deco stop tank at 15 unless it sells fast....

[Moses]

When I lived in Oakland, cars like that were frequently "stolen".

[RoninLB]

I knew a guy that some vicious person dumped paint stripper on his 911. The insurer had to pay for a complete paint job and couldn't jack up his rates.

[targa911S]

throw a road flare in it.

[RickM]

This isn't the "Body Work" chick is it?

[targa911S]

Yeah that would work.

[greglepore]

Exactly the situation you describe has lead to what the insurance industry believes is potentially their largest fraud problem-"give ups" on upside-down leased cars and loans. Not that I would ever suggest that.

[asphaltgambler]

Two car payments? Tell her to get a another job.

[Mike(dat's me)]

You wouldn't believe what I thought when I saw the title to the message. I was just wondering what stunt someone was pulling...

I need sleep.

[speeder]

Is she hot? I'd hit it.

[SLO-BOB]

The problem with the car being "stolen" other than risking insurance fraud is, the car still might not be worth what is owed. If it goes missing, the insurance will pay what it's worth. If that price is below what is owed-she's still screwed.

Only out-Sell the car for what it's worth. Refinance the newer car via home equity or creative loan and cover the overage on the other car. She'll really be waay upside down on the new car, but at least out from under the old one.

She really f-ed up. It's gonna sting no matter what.

[pwd72s]

Never heard the under water phrase before...known as "behind book" to me. Either way, she's shafted. It's sad that so many car buyers in the "gotta have it" mode only ask: "How much per month?"

[Adam]

In my trade we call it "upside-down".

As mentioned, it's gotta be paid for sooner or later. Better that she bites the bullet and takes the hit now and gets it over and done with.

[targa911S]

yeah I've always heard it as Upside Down too. Just kiddin' about that road flare. You'll be sending her a file in a nut cake.

She could prolly blow her way out of the problem.

[bryanthompson]

Mark, you're not really the most subtle guy around...

Originally posted by bryanthompson
Mark, you're not really the most subtle guy around...

Subtle is for pu$$ies.